Wall Street analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to post $70.12 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $72.30 million and the lowest estimate coming in at $68.67 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 company is scheduled to report its next earnings report on Tuesday, February 11th.
On average, analysts expect that Rexford Industrial Realty will report full year sales of $261.26 million for the current year, with estimates ranging from $259.48 million to $262.80 million. For the next year, analysts forecast that the firm will post 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 sell-side analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $68.06 million for the quarter, compared to the consensus estimate of $67.50 million. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. Rexford Industrial Realty’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS.
In other news, CFO Adeel Khan sold 49,721 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $46.01, for a total transaction of $2,287,663.21. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael S. Frankel sold 35,463 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $47.97, for a total transaction of $1,701,160.11. Following the transaction, the chief executive officer now owns 71,834 shares in the company, valued at approximately $3,445,876.98. The disclosure for this sale can be found here. Insiders sold 97,720 shares of company stock worth $4,583,782 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of REXR. First Trust Advisors LP grew its position in Rexford Industrial Realty by 419.1% during the 1st quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 72,663 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Rexford Industrial Realty by 77.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 10,363 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 4,528 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of Rexford Industrial Realty by 58.3% in the 2nd quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 914 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Rexford Industrial Realty by 96.5% in the 2nd quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,147 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Rexford Industrial Realty by 33.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 40,372 shares of the real estate investment trust’s stock worth $1,629,000 after purchasing an additional 10,081 shares during the period. Institutional investors and hedge funds own 99.51% of the company’s stock.
Rexford Industrial Realty stock traded up $0.44 during midday trading on Friday, hitting $47.88. 475,822 shares of the company’s stock were exchanged, compared to its average volume of 564,808. The company has a debt-to-equity ratio of 0.38, a quick ratio of 5.82 and a current ratio of 5.82. The company has a market cap of $5.31 billion, a PE ratio of 42.75, a P/E/G ratio of 5.57 and a beta of 0.77. The firm has a 50-day moving average of $46.84 and a two-hundred day moving average of $43.02. Rexford Industrial Realty has a 12 month low of $28.17 and a 12 month high of $48.80.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.185 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.74 annualized dividend and a yield of 1.55%. Rexford Industrial Realty’s dividend payout ratio (DPR) 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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