Rexford Industrial Realty Inc. Down 0.78% To $63.59 After Earnings

Thursday, February 9, 2023 - Rexford Industrial Realty Inc. (REXR) reported upside earnings and revenues today.

Rexford Industrial Realty Inc.'s earnings came in at an EPS of $0.49 per share. The firm's earnings are up 9% since reporting $0.45 per share in the same period a year ago.

Revenues were upbeat at $178.4 million. That is an increase of 34.56% in revenues from the year-ago report and is 1.42% higher than consensus estimates set at $175.9 million. Keep in mind that the revenues reported were on an adjusted basis, so they may not be directly comparable to estimates and prior periods.

The stock is down 0.78% to $63.59 after the report.

Rexford Industrial Realty Inc.'s revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Rexford Industrial Realty Inc. has performed a little above average during the past few months. Before the report, Rexford Industrial Realty Inc. received a Long-Term Technical Rank by InvestorsObserver of 57, putting it in the top half of stocks. The firm set a 52-week low on October 21, 2022 at $48.74 and set a 52-week high on April 20, 2022 at $84.68.

Rexford Industrial Realty Inc is a real estate investment trust primarily engaged in the acquisition, ownership, and operation of industrial properties in Southern California. The company mainly focuses on leasing facilities in infill markets or relatively wealthy urban areas with a general scarcity of developable land. The vast majority of Rexford's real estate portfolio, in terms of square footage, revenue generation, and total value, comprises light manufacturing and distribution warehouse buildings located in Los Angeles and San Diego. The company's largest tenants are firms in the wholesale and retail, light manufacturing, industrial equipment, and food and beverage industries.