Capital One Financial Corp. Brokers Cut Earnings Estimates for Rexford Industrial Realty Inc (REXR)
Rexford Industrial Realty Inc (NASDAQ:REXR) – Investment analysts at Capital One Financial Corp. decreased their FY2017 EPS estimates for Rexford Industrial Realty in a report issued on Sunday. Capital One Financial Corp. analyst T. Lesnick now expects that the firm will earn $0.96 per share for the year, down from their prior forecast of $0.97. Capital One Financial Corp. also issued estimates for Rexford Industrial Realty’s FY2018 earnings at $1.07 EPS.
REXR has been the subject of a number of other research reports. Zacks Investment Research raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, July 22nd. National Securities initiated coverage on Rexford Industrial Realty in a report on Tuesday, July 12th. They issued a “neutral” rating and a $20.00 price target for the company. Jefferies Group reaffirmed a “buy” rating on shares of Rexford Industrial Realty in a report on Thursday, August 18th. TheStreet raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Finally, Citigroup Inc. increased their price target on Rexford Industrial Realty from $18.50 to $22.00 and gave the company a “neutral” rating in a report on Thursday, July 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.75.
Shares of Rexford Industrial Realty (NASDAQ:REXR) traded up 1.55% during midday trading on Tuesday, reaching $22.33. The company’s stock had a trading volume of 103,969 shares. The stock’s 50-day moving average is $22.18 and its 200-day moving average is $20.93. The company has a market capitalization of $1.47 billion and a P/E ratio of 84.90. Rexford Industrial Realty has a one year low of $14.78 and a one year high of $23.38.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/capital-one-financial-corp-brokers-cut-earnings-estimates-for-rexford-industrial-realty-inc-rexr.html
Rexford Industrial Realty (NASDAQ:REXR) last issued its earnings results on Wednesday, August 3rd. The company reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. The firm had revenue of $30.61 million for the quarter, compared to the consensus estimate of $26.48 million. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were given a $0.135 dividend. The ex-dividend date was Wednesday, September 28th. This represents a $0.54 annualized dividend and a yield of 2.46%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its position in shares of Rexford Industrial Realty by 75.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,060 shares of the company’s stock valued at $116,000 after buying an additional 2,178 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at $131,000. Teacher Retirement System of Texas raised its position in shares of Rexford Industrial Realty by 33.2% in the second quarter. Teacher Retirement System of Texas now owns 9,102 shares of the company’s stock valued at $192,000 after buying an additional 2,271 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Rexford Industrial Realty by 16.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,241 shares of the company’s stock valued at $216,000 after buying an additional 1,454 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at $264,000.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. The Company’s consolidated portfolio consisted of approximately 119 properties with over 12.0 million rentable square feet.
Receive News & Ratings for Rexford Industrial Realty Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rexford Industrial Realty Inc and related companies with MarketBeat.com's FREE daily email newsletter.