Rexford Industrial Realty (NYSE:REXR – Get Free Report) posted its earnings results on Wednesday. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28), Zacks reports. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Rexford Industrial Realty updated its FY24 guidance to $2.33-2.35 EPS and its FY 2024 guidance to 2.330-2.350 EPS.
Rexford Industrial Realty Trading Up 0.4 %
REXR opened at $45.13 on Friday. The company has a market cap of $9.91 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93. The company has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $47.36. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.41. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02.
Rexford Industrial Realty Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s payout ratio is 139.17%.
Analyst Ratings Changes
Get Our Latest Stock Report on REXR
Insider Activity
In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total value of $1,483,291.88. Following the transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 50,673 shares in the company, valued at approximately $2,475,882.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty 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. 1.20% of the stock is currently owned by company insiders.
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.
Featured Articles
- Five stocks we like better than Rexford Industrial Realty
- What Makes a Stock a Good Dividend Stock?
- Global Lithium Demand Soars: Top 3 Stocks Positioned to Gain
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- Oil Prices Fall, Sector Pulls Back: Time to Buy this Stock?
- Canadian Penny Stocks: Can They Make You Rich?
- AI Boom Fuels Demand for Dominion Energy Stock
Receive News & Ratings for Rexford Industrial Realty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty and related companies with MarketBeat.com's FREE daily email newsletter.