Rexford Industrial Realty, Inc. (NYSE:REXR) Forecasted to Earn FY2022 Earnings of $1.92 Per Share

Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for Rexford Industrial Realty in a research report issued on Tuesday, August 2nd. Jefferies Financial Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $1.92 for the year, down from their prior estimate of $1.98. The consensus estimate for Rexford Industrial Realty’s current full-year earnings is $1.94 per share. Jefferies Financial Group also issued estimates for Rexford Industrial Realty’s Q4 2022 earnings at $0.50 EPS, Q1 2023 earnings at $0.54 EPS, Q2 2023 earnings at $0.57 EPS, Q3 2023 earnings at $0.59 EPS, Q4 2023 earnings at $0.60 EPS, FY2023 earnings at $2.31 EPS, Q1 2024 earnings at $0.65 EPS, Q2 2024 earnings at $0.68 EPS and FY2024 earnings at $2.73 EPS.

Several other research firms have also issued reports on REXR. Wolfe Research started coverage on Rexford Industrial Realty in a research note on Tuesday, June 21st. They set a “market perform” rating and a $63.00 price objective for the company. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Robert W. Baird lifted their price target on Rexford Industrial Realty from $87.00 to $89.00 in a research note on Friday, July 22nd. Finally, Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $90.00 to $74.00 and set an “overweight” rating for the company in a research note on Monday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $76.60.

Rexford Industrial Realty Price Performance

NYSE:REXR opened at $64.77 on Friday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 68.18, a P/E/G ratio of 2.97 and a beta of 0.76. Rexford Industrial Realty has a 52-week low of $55.84 and a 52-week high of $84.68. The stock has a fifty day moving average of $61.12 and a 200 day moving average of $68.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.55 and a current ratio of 0.55.

Rexford Industrial Realty (NYSE:REXRGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). The business had revenue of $149.12 million for the quarter, compared to the consensus estimate of $149.21 million. Rexford Industrial Realty had a net margin of 29.79% and a return on equity of 3.17%. Rexford Industrial Realty’s quarterly revenue was up 42.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be issued a $0.315 dividend. The ex-dividend date is Thursday, September 29th. This represents a $1.26 annualized dividend and a dividend yield of 1.95%. Rexford Industrial Realty’s dividend payout ratio is currently 132.63%.

Insider Transactions at Rexford Industrial Realty

In related news, CEO Howard Schwimmer sold 16,402 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $62.15, for a total transaction of $1,019,384.30. Following the transaction, the chief executive officer now owns 68,070 shares in the company, valued at approximately $4,230,550.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 48,252 shares of company stock worth $3,009,629. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in shares of Rexford Industrial Realty by 411.2% in the 1st quarter. CWM LLC now owns 455 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 366 shares in the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Rexford Industrial Realty during the 4th quarter valued at about $41,000. National Bank of Canada FI bought a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $43,000. First Horizon Advisors Inc. raised its position in Rexford Industrial Realty by 28.7% in the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 162 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Rexford Industrial Realty by 197.6% in the 1st quarter. Quadrant Capital Group LLC now owns 750 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 498 shares during the period. Hedge funds and other institutional investors own 98.53% of the company’s stock.

About Rexford Industrial Realty

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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.

Further Reading

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

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