Rexford Industrial Realty (NYSE:REXR – Get Rating) announced its earnings results on Tuesday. The real estate investment trust reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07, MarketWatch Earnings reports. Rexford Industrial Realty had a net margin of 28.36% and a return on equity of 3.16%. The business had revenue of $140.80 million during the quarter, compared to the consensus estimate of $141.60 million. During the same quarter in the previous year, the firm posted $0.37 EPS. Rexford Industrial Realty’s revenue was up 41.1% compared to the same quarter last year. Rexford Industrial Realty updated its FY 2022 guidance to $1.840-$1.880 EPS and its FY22 guidance to $1.84-$1.88 EPS.
REXR traded up $1.99 during trading on Wednesday, reaching $81.60. 6,710 shares of the company’s stock were exchanged, compared to its average volume of 1,118,964. Rexford Industrial Realty has a one year low of $52.47 and a one year high of $81.68. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $13.10 billion, a PE ratio of 99.51, a price-to-earnings-growth ratio of 4.16 and a beta of 0.76. The firm has a fifty day moving average price of $72.47 and a two-hundred day moving average price of $71.45.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.24. The ex-dividend date was Wednesday, March 30th. Rexford Industrial Realty’s payout ratio is presently 157.50%.
A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Vident Investment Advisory LLC bought a new position in Rexford Industrial Realty during the fourth quarter worth $210,000. LPL Financial LLC raised its holdings in Rexford Industrial Realty by 4.1% during the third quarter. LPL Financial LLC now owns 3,821 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 150 shares during the last quarter. Penserra Capital Management LLC acquired a new position in Rexford Industrial Realty during the fourth quarter worth $593,000. NewEdge Advisors LLC acquired a new position in Rexford Industrial Realty during the fourth quarter worth $595,000. Finally, Citadel Advisors LLC raised its holdings in Rexford Industrial Realty by 64.5% during the second quarter. Citadel Advisors LLC now owns 10,866 shares of the real estate investment trust’s stock worth $619,000 after buying an additional 4,261 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Friday, April 1st. Wells Fargo & Company lowered their price objective on shares of Rexford Industrial Realty from $83.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Finally, StockNews.com initiated coverage on shares of Rexford Industrial Realty in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $78.80.
About Rexford Industrial Realty (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.
- Get a free copy of the StockNews.com research report on Rexford Industrial Realty (REXR)
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