Rexford Industrial Realty Inc (REXR) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.22 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.21. The company posted revenue of $27.50 million in the period, compared to analysts expectations of $26.06 million. The company’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.
Many Wall Street Analysts have commented on Rexford Industrial Realty Inc. Company shares were Reiterated by Stifel on Apr 15, 2016 to “Buy”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Rexford Industrial Realty Inc was Downgraded by CapitalOne to ” Equal Weight” on Feb 24, 2016. Company shares were Downgraded by Wunderlich on Feb 22, 2016 to ” Hold”, Firm has raised the Price Target to $ 18 from a previous price target of $17 .
Rexford Industrial Realty Inc opened for trading at $18.89 and hit $19.21 on the upside on Monday, eventually ending the session at $19.21, with a gain of 2.34% or 0.44 points. The heightened volatility saw the trading volume jump to 5,10,009 shares. Company has a market cap of $1,068 M.
In a different news, on Sep 14, 2015, Richard S Ziman (director) purchased 10,000 shares at $12.76 per share price. According to the SEC, on Sep 10, 2015, Michael S. Frankel (CEO) purchased 10,000 shares at $12.82 per share price. On Aug 26, 2015, Howard Schwimmer (CEO) purchased 3,700 shares at $13.42 per share price, according to the Form-4 filing with the securities and exchange commission.
Rexford Industrial Realty Inc. is a self-administered and self-managed full-service real estate investment trust (REIT) focused on owning operating and acquiring industrial properties in Southern California infill markets. The Company owns interests in approximately 120 properties with approximately 11.7 million rentable square feet. The Company also owns 601-605 S. Milliken Ave property located in Ontario California which comprises approximately three buildings containing approximately 128320 square feet on approximately 7.32 acres of land. It owns an interest in a joint venture (the JV) that indirectly owns one property with approximately 0.5 million square feet which the Company also manage. In addition the Company manages an additional 20 properties with approximately 1.2 million rentable square feet. The Company’s properties are concentrated in industries such as wholesale and retail light manufacturing warehousing and storage and business services.