Rexford Industrial Realty Inc (NYSE:REXR) Expected to Post Quarterly Sales of $70.12 Million

Equities research analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to announce sales of $70.12 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $68.67 million and the highest is $72.30 million. Rexford Industrial Realty posted sales of $57.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 23%. The business is scheduled to report its next earnings report on Tuesday, February 11th.

According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $261.26 million for the current financial year, with estimates ranging from $259.48 million to $262.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $304.18 million, with estimates ranging from $286.94 million to $315.60 million. Zacks’ sales averages are an average based on a survey of research firms that cover Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The business had revenue of $68.06 million for the quarter, compared to analysts’ expectations of $67.50 million. During the same period last year, the business earned $0.28 EPS. The business’s revenue was up 23.3% on a year-over-year basis.

REXR has been the topic of several recent analyst reports. Citigroup raised their price objective on Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Stifel Nicolaus raised their price objective on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research cut Rexford Industrial Realty from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, ValuEngine cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $45.00.

In other news, CEO Michael S. Frankel sold 12,536 shares of Rexford Industrial Realty stock in a transaction on Monday, November 4th. The stock was sold at an average price of $47.46, for a total transaction of $594,958.56. Following the sale, the chief executive officer now directly owns 71,834 shares in the company, valued at approximately $3,409,241.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Adeel Khan sold 49,721 shares of Rexford Industrial Realty stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $46.01, for a total value of $2,287,663.21. The disclosure for this sale can be found here. Insiders have sold a total of 97,720 shares of company stock worth $4,583,782 over the last quarter. Company insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REXR. Nuveen Asset Management LLC increased its holdings in Rexford Industrial Realty by 1,220.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,183,483 shares of the real estate investment trust’s stock worth $249,626,000 after acquiring an additional 5,715,137 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Rexford Industrial Realty by 8,836.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,593,894 shares of the real estate investment trust’s stock worth $145,086,000 after acquiring an additional 3,553,677 shares during the last quarter. Invesco Ltd. increased its holdings in Rexford Industrial Realty by 2,091.0% in the 2nd quarter. Invesco Ltd. now owns 2,515,501 shares of the real estate investment trust’s stock worth $101,551,000 after acquiring an additional 2,400,690 shares during the last quarter. Vanguard Group Inc. increased its holdings in Rexford Industrial Realty by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,905,784 shares of the real estate investment trust’s stock worth $601,746,000 after acquiring an additional 929,535 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in Rexford Industrial Realty by 7,328.9% in the 2nd quarter. Centersquare Investment Management LLC now owns 456,879 shares of the real estate investment trust’s stock worth $18,444,000 after acquiring an additional 450,729 shares during the last quarter. Institutional investors own 99.10% of the company’s stock.

NYSE:REXR traded up $0.08 during trading hours on Thursday, hitting $46.26. 288,481 shares of the company traded hands, compared to its average volume of 703,803. The company has a quick ratio of 7.17, a current ratio of 5.82 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $45.71 and its 200-day simple moving average is $41.94. Rexford Industrial Realty has a one year low of $28.17 and a one year high of $48.80. The company has a market cap of $5.16 billion, a PE ratio of 41.30, a PEG ratio of 5.41 and a beta of 0.77.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, December 30th. Rexford Industrial Realty’s payout ratio is 66.07%.

Rexford Industrial Realty Company Profile

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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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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