Rexford Industrial Realty (REXR) to Release Quarterly Earnings on Wednesday

Rexford Industrial Realty (NYSE:REXR) will post its quarterly earnings results after the market closes on Wednesday, October 16th. Analysts expect Rexford Industrial Realty to post 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 registering for the company’s earnings conference call can do so using this link.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. 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 Trading Up 1.7 %

Shares of Rexford Industrial Realty stock opened at $47.34 on Monday. The company has a market capitalization of $10.31 billion, a P/E ratio of 43.43, a P/E/G ratio of 1.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.73 and a current ratio of 1.73. The company has a fifty day moving average of $50.08 and a 200 day moving average of $47.42. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02.

Rexford Industrial Realty Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.4175 per share. This represents a $1.67 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42. Rexford Industrial Realty’s dividend payout ratio is 153.21%.

Insider Buying and Selling

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of Rexford Industrial Realty stock in a transaction on Friday, July 26th. The shares were sold at an average price of $48.86, for a total value of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares of the company’s stock, valued at approximately $2,475,882.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 50,673 shares in the company, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on REXR. Truist Financial increased their price objective on shares of Rexford Industrial Realty from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Evercore ISI increased their price objective on shares of Rexford Industrial Realty from $57.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Scotiabank raised their target price on shares of Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average price target of $52.50.

About Rexford Industrial Realty

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.