Brokerages expect that Rexford Industrial Realty Inc (NYSE:REXR) will announce $55.55 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $57.44 million and the lowest estimate coming in at $53.27 million. Rexford Industrial Realty reported sales of $45.88 million during the same quarter last year, which indicates a positive year over year growth rate of 21.1%. The firm is scheduled to issue its next earnings report on Tuesday, February 12th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $209.07 million for the current financial year, with estimates ranging from $206.00 million to $211.31 million. For the next fiscal year, analysts forecast that the firm will post sales of $236.48 million, with estimates ranging from $222.08 million to $249.95 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The firm had revenue of $54.47 million during the quarter, compared to the consensus estimate of $55.09 million. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 EPS.
REXR has been the topic of several recent analyst reports. Zacks Investment Research upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Friday, November 2nd. Finally, Capital One Financial upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.00.
REXR traded down $0.32 on Monday, hitting $32.98. 348,453 shares of the company traded hands, compared to its average volume of 452,263. The company has a quick ratio of 6.21, a current ratio of 6.21 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.08 billion, a PE ratio of 34.35, a P/E/G ratio of 3.81 and a beta of 0.66. Rexford Industrial Realty has a 12-month low of $26.32 and a 12-month high of $33.46.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, December 28th. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY grew its holdings in shares of Rexford Industrial Realty by 6.6% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 30,492 shares of the real estate investment trust’s stock worth $957,000 after acquiring an additional 1,898 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Rexford Industrial Realty by 104.2% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 2,158 shares during the period. Navellier & Associates Inc grew its holdings in shares of Rexford Industrial Realty by 2.7% in the 2nd quarter. Navellier & Associates Inc now owns 83,248 shares of the real estate investment trust’s stock worth $2,613,000 after acquiring an additional 2,221 shares during the period. Eagle Asset Management Inc. grew its holdings in shares of Rexford Industrial Realty by 0.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 520,739 shares of the real estate investment trust’s stock worth $16,642,000 after acquiring an additional 2,329 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Rexford Industrial Realty by 23.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 13,700 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
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