Rexford Industrial Realty (NYSE:REXR) Issues FY 2019 Earnings Guidance

Rexford Industrial Realty (NYSE:REXR) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.19-1.21 for the period. Rexford Industrial Realty also updated its FY19 guidance to $1.19-1.21 EPS.

REXR traded up $0.06 during trading on Tuesday, reaching $41.57. 1,495,300 shares of the stock traded hands, compared to its average volume of 732,190. The stock has a market cap of $4.33 billion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84. Rexford Industrial Realty has a fifty-two week low of $28.17 and a fifty-two week high of $42.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 8.34 and a current ratio of 8.34. The firm’s 50-day moving average price is $41.08.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). The firm had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. Rexford Industrial Realty’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts expect that Rexford Industrial Realty will post 1.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.185 per share. The ex-dividend date was Thursday, June 27th. This represents a $0.74 dividend on an annualized basis and a yield of 1.78%. Rexford Industrial Realty’s payout ratio is 66.07%.

Separately, Zacks Investment Research raised General Moly from a sell rating to a hold rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Rexford Industrial Realty has an average rating of Hold and a consensus target price of $41.00.

In other Rexford Industrial Realty news, CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.00, for a total transaction of $1,520,000.00. Following the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at $1,520,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel David E. Lanzer sold 5,085 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $38.19, for a total value of $194,196.15. Following the transaction, the general counsel now owns 5,718 shares in the company, valued at $218,370.42. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

About Rexford Industrial Realty

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.

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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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