Rexford Industrial Realty (NYSE:REXR) Releases FY 2022 Earnings Guidance

Rexford Industrial Realty (NYSE:REXRGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.840-$1.880 for the period. The company issued revenue guidance of -.

Several brokerages have recently commented on REXR. Zacks Investment Research lowered Rexford Industrial Realty from a buy rating to a hold rating in a report on Friday, April 1st. JPMorgan Chase & Co. upgraded Rexford Industrial Realty from a neutral rating to an overweight rating and increased their price objective for the company from $78.00 to $84.00 in a report on Monday, December 20th. StockNews.com began coverage on Rexford Industrial Realty in a report on Thursday, March 31st. They set a hold rating for the company. Finally, Wells Fargo & Company decreased their price objective on Rexford Industrial Realty from $83.00 to $81.00 and set an overweight rating for the company in a report on Tuesday, March 15th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $78.80.

REXR stock traded up $3.43 during midday trading on Tuesday, reaching $79.61. The stock had a trading volume of 1,435,886 shares, compared to its average volume of 1,118,963. The stock has a market cap of $12.78 billion, a PE ratio of 98.26, a P/E/G ratio of 4.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a fifty day simple moving average of $72.36 and a two-hundred day simple moving average of $71.39. Rexford Industrial Realty has a 52-week low of $52.47 and a 52-week high of $81.68.

Rexford Industrial Realty (NYSE:REXRGet Rating) last issued its earnings results on Wednesday, February 9th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.08. Rexford Industrial Realty had a return on equity of 3.16% and a net margin of 28.36%. During the same period last year, the business posted $0.34 earnings per share. On average, sell-side analysts predict that Rexford Industrial Realty will post 1.9 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were given a dividend of $0.315 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.24. This represents a $1.26 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, March 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 157.50%.

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 11,814 shares of the stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $70.04, for a total transaction of $827,452.56. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Vident Investment Advisory LLC acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $210,000. Comerica Bank grew its position in shares of Rexford Industrial Realty by 9.0% during the 4th quarter. Comerica Bank now owns 92,957 shares of the real estate investment trust’s stock valued at $6,605,000 after acquiring an additional 7,676 shares during the period. NewEdge Advisors LLC acquired a new stake in shares of Rexford Industrial Realty during the 4th quarter valued at about $595,000. Allianz Asset Management GmbH grew its position in shares of Rexford Industrial Realty by 2.7% during the 4th quarter. Allianz Asset Management GmbH now owns 302,861 shares of the real estate investment trust’s stock valued at $24,565,000 after acquiring an additional 7,834 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Rexford Industrial Realty by 4.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 318,799 shares of the real estate investment trust’s stock valued at $25,858,000 after acquiring an additional 13,956 shares during the period. 99.23% of the stock is currently owned by institutional investors.

Rexford Industrial Realty Company Profile (Get Rating)

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013, and is headquartered in Los Angeles, CA.

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

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