Brokerages predict that Rexford Industrial Realty Inc (NYSE:REXR) will report sales of $67.65 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $65.34 million and the highest is $69.41 million. Rexford Industrial Realty posted sales of $54.47 million in the same quarter last year, which suggests a positive year over year growth rate of 24.2%. The company is expected to issue its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $261.43 million for the current fiscal year, with estimates ranging from $256.84 million to $266.89 million. For the next financial year, analysts anticipate that the business will post sales of $295.58 million, with estimates ranging from $275.93 million to $311.50 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.17). The business had revenue of $63.60 million during the quarter, compared to the consensus estimate of $63.33 million. Rexford Industrial Realty had a return on equity of 2.63% and a net margin of 21.02%. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS.
In other Rexford Industrial Realty news, CFO Adeel Khan sold 40,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $38.00, for a total value of $1,520,000.00. Following the transaction, the chief financial officer now directly owns 40,000 shares in the company, valued at $1,520,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Howard Schwimmer sold 23,600 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $41.70, for a total transaction of $984,120.00. Following the completion of the transaction, the chief executive officer now owns 68,958 shares in the company, valued at $2,875,548.60. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in REXR. PGGM Investments increased its holdings in shares of Rexford Industrial Realty by 4,193.6% in the first quarter. PGGM Investments now owns 4,303,370 shares of the real estate investment trust’s stock valued at $154,104,000 after purchasing an additional 4,203,143 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Rexford Industrial Realty by 2,091.0% in the second quarter. Invesco Ltd. now owns 2,515,501 shares of the real estate investment trust’s stock valued at $101,551,000 after purchasing an additional 2,400,690 shares during the last quarter. Norges Bank acquired a new position in shares of Rexford Industrial Realty in the fourth quarter valued at $29,836,000. Vanguard Group Inc. increased its holdings in shares of Rexford Industrial Realty by 6.7% in the second quarter. Vanguard Group Inc. now owns 14,905,784 shares of the real estate investment trust’s stock valued at $601,746,000 after purchasing an additional 929,535 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in shares of Rexford Industrial Realty by 7,328.9% in the second quarter. Centersquare Investment Management LLC now owns 456,879 shares of the real estate investment trust’s stock valued at $18,444,000 after purchasing an additional 450,729 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
Shares of REXR stock traded down $0.16 during trading on Wednesday, reaching $42.07. The company’s stock had a trading volume of 332,196 shares, compared to its average volume of 728,294. The firm’s fifty day moving average is $41.51. The company has a current ratio of 7.17, a quick ratio of 7.17 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.61 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 4.83 and a beta of 0.83. Rexford Industrial Realty has a one year low of $28.17 and a one year high of $42.73.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.74 dividend on an annualized basis and a yield of 1.76%. Rexford Industrial Realty’s payout ratio is 66.07%.
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 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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