Rexford Industrial Realty Inc (REXR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company reported $0.21 EPS for the quarter. Analysts had a consensus estimate of $0.21. The company posted revenue of $30.61 million in the period, compared to analysts expectations of $28.78 million. The company’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Rexford Industrial Realty Inc. Company shares were Reiterated by Hudson Securities on May 16, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .
Rexford Industrial Realty Inc closed down -0.52 points or -2.26% at $22.45 with 5,60,678 shares getting traded on Tusday. Post opening the session at $22.9, the shares hit an intraday low of $22.405 and an intraday high of $22.95 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 14, 2016, Howard Schwimmer (Co-CEO, Co-President) sold 11,900 shares at $20.56 per share price. According to the SEC, on Jun 13, 2016, Adeel Khan (Chief Financial Officer) sold 17,893 shares at $20.87 per share price. On Jun 6, 2016, Michael S. Frankel (Co-CEO) sold 23,380 shares at $20.06 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.