Equities Analysts Set Expectations for Rexford Industrial Realty, Inc.'s Q2 2024 Earnings (NYSE:REXR)

Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) - Wedbush issued their Q2 2024 earnings estimates for Rexford Industrial Realty in a research note issued on Monday, April 22nd. Wedbush analyst R. Anderson anticipates that the real estate investment trust will post earnings per share of $0.57 for the quarter. Wedbush has a "Neutral" rating and a $45.00 price target on the stock. The consensus estimate for Rexford Industrial Realty's current full-year earnings is $2.33 per share. Wedbush also issued estimates for Rexford Industrial Realty's Q3 2024 earnings at $0.58 EPS, Q4 2024 earnings at $0.59 EPS, FY2024 earnings at $2.32 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.64 EPS, Q4 2025 earnings at $0.65 EPS and FY2025 earnings at $2.54 EPS.

A number of other equities research analysts also recently issued reports on the stock. Robert W. Baird reiterated a "neutral" rating and set a $61.00 price target (up from $53.00) on shares of Rexford Industrial Realty in a research report on Friday, January 5th. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 price objective for the company. in a research report on Wednesday, February 7th. TheStreet upgraded Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. Mizuho restated a "neutral" rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Finally, Truist Financial cut their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a "buy" rating for the company in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.73.

Rexford Industrial Realty Price Performance

Shares of REXR stock traded down $1.19 during midday trading on Wednesday, reaching $42.54. 1,576,269 shares of the company traded hands, compared to its average volume of 1,982,744. The firm's 50 day simple moving average is $49.88 and its two-hundred day simple moving average is $50.57. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 1.35. The firm has a market cap of $9.27 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.86.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same quarter in the previous year, the business earned $0.52 EPS. Rexford Industrial Realty's revenue for the quarter was up 15.0% on a year-over-year basis.

Rexford Industrial Realty Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.417 per share. The ex-dividend date is Friday, June 28th. This represents a $1.67 annualized dividend and a dividend yield of 3.92%. Rexford Industrial Realty's dividend payout ratio is presently 153.21%.

Insider Activity

In other news, General Counsel David E. Lanzer sold 18,113 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Rexford Industrial Realty

A number of institutional investors have recently added to or reduced their stakes in REXR. GAMMA Investing LLC purchased a new stake in Rexford Industrial Realty during the 4th quarter worth $41,000. Fifth Third Bancorp lifted its holdings in Rexford Industrial Realty by 58.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust's stock worth $55,000 after buying an additional 411 shares in the last quarter. Quarry LP lifted its holdings in Rexford Industrial Realty by 195.8% in the 4th quarter. Quarry LP now owns 1,118 shares of the real estate investment trust's stock worth $63,000 after buying an additional 740 shares in the last quarter. Principal Securities Inc. acquired a new position in Rexford Industrial Realty in the 4th quarter worth $96,000. Finally, Ninepoint Partners LP acquired a new position in Rexford Industrial Realty in the 3rd quarter worth $108,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.