Capital One Financial Weighs in on Rexford Industrial Realty, Inc.’s Q3 2023 Earnings (NYSE:REXR)

Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) – Stock analysts at Capital One Financial increased their Q3 2023 earnings per share estimates for Rexford Industrial Realty in a research note issued to investors on Tuesday, May 3rd. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will post earnings per share of $0.55 for the quarter, up from their previous forecast of $0.53. Capital One Financial also issued estimates for Rexford Industrial Realty’s FY2023 earnings at $2.17 EPS.

REXR has been the topic of several other reports. Robert W. Baird boosted their price objective on shares of Rexford Industrial Realty from $86.00 to $103.00 in a research note on Thursday, April 21st. StockNews.com assumed coverage on shares of Rexford Industrial Realty in a report on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company lifted their target price on shares of Rexford Industrial Realty from $81.00 to $90.00 in a report on Thursday, April 28th. Finally, Zacks Investment Research downgraded shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Friday, April 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $84.80.

Shares of Rexford Industrial Realty stock traded down $2.02 during trading on Friday, hitting $71.70. 6,616 shares of the stock were exchanged, compared to its average volume of 1,265,586. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 83.77, a price-to-earnings-growth ratio of 3.88 and a beta of 0.69. The company has a fifty day moving average price of $74.76 and a 200-day moving average price of $73.06. Rexford Industrial Realty has a 1-year low of $52.47 and a 1-year high of $84.68. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.29.

Rexford Industrial Realty (NYSE:REXRGet Rating) last issued its quarterly earnings results on Tuesday, April 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.07. Rexford Industrial Realty had a net margin of 29.60% and a return on equity of 3.22%. The firm had revenue of $140.80 million for the quarter, compared to analyst estimates of $141.60 million. During the same period in the previous year, the business earned $0.37 EPS. The company’s revenue was up 41.1% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Wednesday, June 29th. Rexford Industrial Realty’s dividend payout ratio is 143.18%.

In related news, General Counsel David E. Lanzer sold 11,814 shares of the company’s stock in a transaction that occurred on Monday, February 14th. The shares were sold at an average price of $70.04, for a total transaction of $827,452.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Rexford Industrial Realty during the fourth quarter worth $336,883,000. BlackRock Inc. boosted its stake in Rexford Industrial Realty by 8.6% during the fourth quarter. BlackRock Inc. now owns 19,810,848 shares of the real estate investment trust’s stock worth $1,606,859,000 after acquiring an additional 1,569,782 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Rexford Industrial Realty during the fourth quarter worth $108,822,000. State Street Corp boosted its stake in Rexford Industrial Realty by 16.8% during the fourth quarter. State Street Corp now owns 7,251,109 shares of the real estate investment trust’s stock worth $589,854,000 after acquiring an additional 1,043,035 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Rexford Industrial Realty by 19.4% in the fourth quarter. Invesco Ltd. now owns 5,910,197 shares of the real estate investment trust’s stock valued at $479,377,000 after buying an additional 959,157 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

Rexford Industrial Realty Company Profile (Get Rating)

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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

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