Rexford Industrial Realty Inc reports results for the quarter ended in June - Earnings Summary

Rexford Industrial Realty

17/07/2024 22:01

* Rexford Industrial Realty Inc  REXR.N  reported quarterly
adjusted earnings of 37 cents​​ per share for the quarter ended
in June, higher than the same quarter last year, when the
company reported EPS of 26 cents.  The mean expectation of
five analysts for the quarter was for earnings of 27 cents per
share. Wall Street expected results to range from 23 cents to 29
cents per share.
    * Revenue rose 19% to $232.97 million from a year ago;
analysts
expected $227.90 million. 
    * Rexford Industrial Realty Inc's reported EPS for the
quarter was
37 cents​.
    * The company reported quarterly net income of $79.75
million.
    * Rexford Industrial Realty Inc shares had risen by 11.4%
this
quarter and lost 11.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.1%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 6
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the commercial
reits
peer group is also "buy"

Wall Street's median 12-month price target for Rexford
Industrial Realty Inc is $51.00 
This summary was machine generated from LSEG data July 17 at
09:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.58           0.60           Beat
 Mar. 31 2024      0.57           0.58           Beat
 Dec. 31 2023      0.56           0.56           Met
 Sep. 30 2023      0.56           0.56           Met