Rexford Industrial Realty (NYSE:REXR) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Key Points

• Rexford Industrial Realty reported quarterly EPS of $0.07, missing the $0.28 consensus estimate by $0.21, while revenue of $235.84 million modestly exceeded expectations.
• Shares fell 1.4% to $36.30 during Thursday trading, with volume above the stock’s average and the company posting negative net margin and return on equity.
• Analyst sentiment remains mixed: Rexford has a consensus “Hold” rating and an average price target of $40.71, compared with its current share price.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) announced 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. The company had revenue of $235.84 million during the quarter, compared to the consensus estimate of $232.95 million. Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.

Rexford Industrial Realty Trading Down 1.4%

REXR stock traded down $0.51 during mid-day trading on Thursday, reaching $36.30. 4,104,967 shares of the stock traded hands, compared to its average volume of 2,599,964. 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 52-week low of $32.14 and a 52-week high of $43.08. The company has a market cap of $8.09 billion, a P/E ratio of -20.05 and a beta of 1.18. The stock's fifty day moving average is $37.25 and its 200-day moving average is $36.07.

Analysts Set New Price Targets

REXR has been the topic of several analyst reports. Wall Street Zen upgraded shares of Rexford Industrial Realty from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 19th. Jefferies Financial Group cut Rexford Industrial Realty from a "buy" rating to a "hold" rating and set a $40.00 target price on the stock. in a research report on Thursday, August 6th. BMO Capital Markets lifted their target price on Rexford Industrial Realty from $38.00 to $39.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. Weiss Ratings lowered Rexford Industrial Realty from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, October 8th. Finally, Scotiabank boosted their price target on Rexford Industrial Realty from $38.00 to $40.00 and gave the stock a "sector outperform" rating in a research report on Monday, August 31st. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Rexford Industrial Realty has a consensus rating of "Hold" and an average price target of $40.71.

About Rexford Industrial Realty

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.

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