Rexford Industrial Realty (NYSE:REXR) Releases Quarterly Earnings Results

Rexford Industrial Realty (NYSE:REXR) released its quarterly earnings results on Thursday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.21), FiscalAI reports. Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The firm had revenue of $235.84 million during the quarter, compared to analyst estimates of $232.95 million.

Rexford Industrial Realty Trading Down 1.4%

NYSE:REXR traded down $0.51 on Thursday, reaching $36.30. 4,104,983 shares of the stock traded hands, compared to its average volume of 2,608,642. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of -20.05 and a beta of 1.18. The company’s 50 day moving average is $37.25 and its 200-day moving average is $36.07. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. Rexford Industrial Realty has a 1-year low of $32.14 and a 1-year high of $43.08.

Wall Street Analyst Weigh In

REXR has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on Rexford Industrial Realty from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Monday, August 3rd. Jefferies Financial Group cut Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Thursday, August 6th. Weiss Ratings downgraded Rexford Industrial Realty from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Truist Financial upped their price objective on shares of Rexford Industrial Realty from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rexford Industrial Realty in a research report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Rexford Industrial Realty currently has an average rating of “Hold” and an average price target of $40.71.

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.