Rexford Industrial Realty Inc (NYSE:REXR) – Investment analysts at DA Davidson upped their Q1 2019 earnings per share (EPS) estimates for Rexford Industrial Realty in a report issued on Wednesday, February 13th. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will earn $0.28 per share for the quarter, up from their prior forecast of $0.27. DA Davidson also issued estimates for Rexford Industrial Realty’s Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.30 EPS, FY2019 earnings at $1.17 EPS, Q1 2020 earnings at $0.31 EPS, Q3 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.27 EPS.
REXR has been the topic of a number of other research reports. Zacks Investment Research lowered Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 25th. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. upgraded Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a research report on Wednesday, December 19th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Rexford Industrial Realty currently has a consensus rating of “Hold” and a consensus price target of $33.20.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.02. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The business had revenue of $56.13 million for the quarter, compared to analyst estimates of $55.81 million. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a dividend of $0.185 per share. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, March 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.12%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 66.67%.
In other Rexford Industrial Realty news, CFO Adeel Khan bought 2,250 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were purchased at an average price of $22.43 per share, for a total transaction of $50,467.50. Following the transaction, the chief financial officer now directly owns 2,250 shares of the company’s stock, valued at approximately $50,467.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Rexford Industrial Realty by 9.9% in the 3rd quarter. Vanguard Group Inc. now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after purchasing an additional 1,128,837 shares during the last quarter. Vanguard Group Inc raised its stake in Rexford Industrial Realty by 9.9% in the 3rd quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after purchasing an additional 1,128,837 shares during the last quarter. BlackRock Inc. raised its stake in Rexford Industrial Realty by 4.8% in the 4th quarter. BlackRock Inc. now owns 10,579,277 shares of the real estate investment trust’s stock valued at $311,772,000 after purchasing an additional 487,419 shares during the last quarter. FMR LLC raised its stake in Rexford Industrial Realty by 37.4% in the 2nd quarter. FMR LLC now owns 7,561,704 shares of the real estate investment trust’s stock valued at $237,361,000 after purchasing an additional 2,057,501 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Rexford Industrial Realty by 115.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock valued at $83,671,000 after purchasing an additional 1,400,758 shares during 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.
See Also: How Do Mutual Funds Work?
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.