Rexford Industrial Realty (NYSE:REXR - Get Free Report) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01, Zacks reports. Rexford Industrial Realty had a return on equity of 3.62% and a net margin of 32.04%. The firm had revenue of $241.57 million during the quarter, compared to the consensus estimate of $251.72 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's revenue was up 5.0% on a year-over-year basis. Rexford Industrial Realty updated its FY 2025 guidance to 2.370-2.410 EPS.
Rexford Industrial Realty Stock Performance
NYSE REXR traded up $1.13 during trading hours on Friday, hitting $36.56. 4,691,011 shares of the company's stock traded hands, compared to its average volume of 2,231,457. The business's fifty day moving average price is $36.10 and its two-hundred day moving average price is $37.28. The company has a current ratio of 5.59, a quick ratio of 4.90 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $8.65 billion, a P/E ratio of 27.08, a P/E/G ratio of 3.25 and a beta of 1.13. Rexford Industrial Realty has a 52 week low of $29.68 and a 52 week high of $52.61.
Rexford Industrial Realty Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.72 annualized dividend and a dividend yield of 4.70%. Rexford Industrial Realty's payout ratio is presently 127.41%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in REXR. AQR Capital Management LLC boosted its position in shares of Rexford Industrial Realty by 309.8% during the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust's stock valued at $4,628,000 after acquiring an additional 89,390 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Rexford Industrial Realty by 3.5% during the 1st quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust's stock valued at $9,849,000 after acquiring an additional 8,506 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Rexford Industrial Realty by 41.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock valued at $70,931,000 after acquiring an additional 526,877 shares during the last quarter. 99.52% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on REXR shares. Wells Fargo & Company decreased their target price on Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Truist Financial decreased their target price on Rexford Industrial Realty from $44.00 to $37.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Robert W. Baird set a $43.00 target price on Rexford Industrial Realty in a report on Tuesday, May 6th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a report on Tuesday, March 25th. Finally, Evercore ISI downgraded Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their target price for the company from $39.00 to $38.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has an average rating of "Hold" and a consensus price target of $39.82.
Check Out Our Latest Report on REXR
About Rexford Industrial Realty
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Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.
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