Rexford Industrial Realty (NYSE:REXR) Issues FY 2024 Earnings Guidance

Rexford Industrial Realty (NYSE:REXR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.330-2.350 for the period, compared to the consensus EPS estimate of 2.350. The company issued revenue guidance of -. Rexford Industrial Realty also updated its FY24 guidance to $2.33-2.35 EPS.

Analyst Ratings Changes

A number of research analysts recently weighed in on REXR shares. JPMorgan Chase & Co. raised their target price on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company dropped their target price on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 28th. Scotiabank upped their price objective on Rexford Industrial Realty from $51.00 to $55.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty currently has an average rating of “Hold” and a consensus target price of $52.73.

Rexford Industrial Realty Trading Up 2.5 %

Shares of Rexford Industrial Realty stock opened at $46.04 on Friday. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 1.94 and a beta of 0.93. The firm’s 50 day simple moving average is $49.90 and its two-hundred day simple moving average is $47.34.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company had revenue of $241.84 million during the quarter, compared to analyst estimates of $235.81 million. During the same period last year, the firm earned $0.56 EPS. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.63%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 139.17%.

Insider Transactions at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total value of $711,377.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now owns 50,673 shares in the company, valued at $2,475,882.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

About Rexford Industrial Realty

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.