Zacks: Brokerages Anticipate Rexford Industrial Realty Inc (REXR) Will Post Earnings of $0.27 Per Share

Equities analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to report earnings per share (EPS) of $0.27 for the current quarter, Zacks reports. Five analysts have made estimates for Rexford Industrial Realty’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.28. Rexford Industrial Realty reported earnings of $0.26 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.8%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, February 12th.

On average, analysts expect that Rexford Industrial Realty will report full-year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.09 to $1.10. For the next fiscal year, analysts forecast that the company will report earnings of $1.16 per share, with EPS estimates ranging from $1.13 to $1.17. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Rexford Industrial Realty.

A number of analysts have recently commented on REXR shares. JPMorgan Chase & Co. raised Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Friday, November 2nd. Finally, Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Friday, December 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $33.20.

Shares of REXR stock traded down $0.46 during mid-day trading on Monday, reaching $34.76. 316,459 shares of the stock traded hands, compared to its average volume of 525,982. Rexford Industrial Realty has a 1-year low of $26.32 and a 1-year high of $35.41. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 3.75 and a beta of 0.87. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.47.

In related news, CFO Adeel Khan acquired 2,250 shares of the stock in a transaction dated Friday, November 16th. The stock was bought at an average cost of $22.43 per share, for a total transaction of $50,467.50. Following the completion of the transaction, the chief financial officer now directly owns 2,250 shares of the company’s stock, valued at $50,467.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. raised its position in shares of Rexford Industrial Realty by 99.2% during the fourth quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock worth $37,000 after acquiring an additional 619 shares during the last quarter. Rehmann Capital Advisory Group increased its holdings in Rexford Industrial Realty by 3,095.8% in the third quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 5,139 shares in the last quarter. Nissay Asset Management Corp Japan ADV bought a new stake in Rexford Industrial Realty in the third quarter worth approximately $205,000. Federated Investors Inc. PA increased its holdings in Rexford Industrial Realty by 50.7% in the third quarter. Federated Investors Inc. PA now owns 6,608 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 2,222 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Rexford Industrial Realty by 6.5% in the fourth quarter. D.A. Davidson & CO. now owns 7,110 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 435 shares in the last quarter.

Rexford Industrial Realty Company Profile

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 168 properties with approximately 20.6 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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