Rexford Industrial Realty (NYSE:REXR – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.330-2.350 for the period, compared to the consensus estimate of 2.350. The company issued revenue guidance of -. Rexford Industrial Realty also updated its FY24 guidance to $2.33-2.35 EPS.
Rexford Industrial Realty Trading Up 3.5 %
NYSE REXR traded up $1.66 on Wednesday, hitting $49.41. 2,259,270 shares of the stock were exchanged, compared to its average volume of 1,678,188. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 43.81, a P/E/G ratio of 1.93 and a beta of 0.93. The company’s 50-day moving average price is $50.06 and its two-hundred day moving average price is $47.36. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73. Rexford Industrial Realty has a 52-week low of $41.56 and a 52-week high of $58.02.
Rexford Industrial Realty (NYSE:REXR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.21). Rexford Industrial Realty had a net margin of 30.71% and a return on equity of 3.31%. The company had revenue of $237.60 million for the quarter, compared to analysts’ expectations of $227.70 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Research analysts predict that Rexford Industrial Realty will post 2.34 EPS for the current year.
Analysts Set New Price Targets
Get Our Latest Stock Report on Rexford Industrial Realty
Insider Activity at Rexford Industrial Realty
In other news, 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 value of $711,377.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the stock in a transaction dated 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 of the company’s stock, 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 can be accessed through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the business’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 disclosure for this sale can be found here. 1.20% of the stock is 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.
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