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 during trading hours on Wednesday, hitting $49.41. 2,259,270 shares of the company’s stock were exchanged, compared to its average volume of 1,678,188. The stock has a 50-day simple moving average of $50.06 and a 200 day simple moving average of $47.36. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 1.93 and a beta of 0.93. 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 (NYSE:REXR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $237.60 million during the quarter, compared to analyst estimates of $227.70 million. During the same period last year, the business posted $0.54 EPS. The company’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Rexford Industrial Realty
Insiders Place Their Bets
In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 30,358 shares of the company’s 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 directly owns 50,673 shares in the company, valued at $2,475,882.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Howard Schwimmer sold 30,358 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 directly owns 50,673 shares in the company, valued at $2,475,882.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction that occurred on 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. 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.
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