Rexford Industrial Realty (NYSE:REXR) Posts Quarterly Earnings Results, Misses Estimates By $0.30 EPS

Rexford Industrial Realty (NYSE:REXR) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30), Yahoo Finance reports. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Rexford Industrial Realty’s revenue was up 15.0% on a year-over-year basis.

Rexford Industrial Realty Price Performance

REXR stock traded down $0.45 during trading on Friday, reaching $42.74. The company’s stock had a trading volume of 2,694,390 shares, compared to its average volume of 3,228,683. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The company has a quick ratio of 1.35, a current ratio of 3.21 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $9.31 billion, a P/E ratio of 39.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86. The company’s fifty day moving average is $50.22 and its 200-day moving average is $50.59.

Rexford Industrial Realty Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.417 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.67 dividend on an annualized basis and a yield of 3.90%. Rexford Industrial Realty’s payout ratio is presently 153.21%.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Money Concepts Capital Corp bought a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $246,000. Vident Investment Advisory LLC lifted its holdings in shares of Rexford Industrial Realty by 26.0% in the 1st quarter. Vident Investment Advisory LLC now owns 3,247 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 669 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Rexford Industrial Realty by 7.0% in the 2nd quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 290 shares during the last quarter. Wexford Capital LP bought a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $223,000. Finally, Delphia USA Inc. bought a new position in shares of Rexford Industrial Realty in the 4th quarter valued at about $215,000. Institutional investors own 99.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on REXR. Barclays began coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price objective for the company. Robert W. Baird restated a “neutral” rating and issued a $61.00 price objective (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a report on Wednesday, February 7th. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Mizuho reiterated a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $55.60.

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.