Rexford Industrial Realty Inc (NYSE:REXR) – Analysts at Capital One Financial issued their FY2021 earnings estimates for shares of Rexford Industrial Realty in a research report issued on Monday, April 29th, Zacks Investment Research reports. Capital One Financial analyst C. Lucas anticipates that the real estate investment trust will post earnings per share of $1.42 for the year.
Several other analysts have also issued reports on the stock. Wells Fargo & Co boosted their price objective on shares of Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, March 14th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a report on Friday, January 25th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Rexford Industrial Realty presently has an average rating of “Hold” and an average price target of $38.33.
Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.20). The company had revenue of $60.36 million during the quarter, compared to analysts’ expectations of $60.05 million. Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share.
Several institutional investors have recently made changes to their positions in REXR. JPMorgan Chase & Co. grew its position in shares of Rexford Industrial Realty by 115.1% during the third quarter. JPMorgan Chase & Co. now owns 2,617,974 shares of the real estate investment trust’s stock worth $83,671,000 after buying an additional 1,400,758 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Rexford Industrial Realty by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 718,369 shares of the real estate investment trust’s stock worth $22,958,000 after buying an additional 61,486 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Rexford Industrial Realty by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,229,250 shares of the real estate investment trust’s stock worth $39,285,000 after buying an additional 26,627 shares in the last quarter. Man Group plc grew its position in shares of Rexford Industrial Realty by 29.4% during the third quarter. Man Group plc now owns 128,800 shares of the real estate investment trust’s stock worth $4,116,000 after buying an additional 29,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its holdings in Rexford Industrial Realty by 61.5% in the third quarter. MetLife Investment Advisors LLC now owns 62,779 shares of the real estate investment trust’s stock valued at $2,006,000 after purchasing an additional 23,905 shares in the last quarter. 97.50% of the stock is owned by institutional investors and hedge funds.
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 5,085 shares of Rexford Industrial Realty stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the completion of the transaction, the general counsel now directly owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.70% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio is currently 66.07%.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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