Rexford Industrial Realty (NYSE:REXR) Announces Earnings Results, Misses Expectations By $0.53 EPS

Rexford Industrial Realty (NYSE:REXR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.07 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.53), FiscalAI reports. The firm had revenue of $239.10 million for the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share.

Rexford Industrial Realty Price Performance

REXR stock opened at $38.00 on Tuesday. The business’s 50-day moving average is $37.32 and its two-hundred day moving average is $36.50. The firm has a market capitalization of $8.47 billion, a P/E ratio of -18.01 and a beta of 1.18. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $42.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.08 and a quick ratio of 1.70.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be paid a $0.4350 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.74 annualized dividend and a dividend yield of 4.6%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently -82.46%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James Financial upgraded Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a report on Tuesday, September 15th. JPMorgan Chase & Co. increased their price target on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Monday, August 3rd. Cantor Fitzgerald decreased their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup reaffirmed a “neutral” rating on shares of Rexford Industrial Realty in a report on Wednesday, July 29th. Finally, Truist Financial raised their price objective on Rexford Industrial Realty from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, October 12th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.67.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.