Rexford Industrial Realty (REXR) Scheduled to Post Quarterly Earnings on Wednesday

Rexford Industrial Realty (NYSE:REXR) will be announcing its earnings results after the market closes on Wednesday, October 16th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Rexford Industrial Realty has set its FY24 guidance at $2.32-2.34 EPS and its FY 2024 guidance at 2.320-2.340 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. On average, analysts expect Rexford Industrial Realty to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Rexford Industrial Realty Stock Down 0.8 %

Rexford Industrial Realty stock opened at $47.09 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The firm has a fifty day moving average price of $50.26 and a two-hundred day moving average price of $47.46. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 43.20, a P/E/G ratio of 2.00 and a beta of 0.93.

Rexford Industrial Realty Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.4175 dividend. This represents a $1.67 annualized dividend and a dividend yield of 3.55%. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, September 30th. Rexford Industrial Realty’s dividend payout ratio is currently 153.21%.

Insider Transactions at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the transaction, the chief executive officer now directly owns 50,673 shares of the company’s stock, valued at $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the sale, the chief executive officer now owns 50,673 shares of the company’s stock, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on REXR. StockNews.com upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Wells Fargo & Company cut their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Truist Financial upped their target price on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Evercore ISI boosted their price target on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. Finally, Mizuho decreased their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $52.50.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.