$54.03 Million in Sales Expected for Rexford Industrial Realty Inc (REXR) This Quarter

Wall Street brokerages predict that Rexford Industrial Realty Inc (NYSE:REXR) will post $54.03 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $50.89 million and the highest is $55.79 million. Rexford Industrial Realty reported sales of $43.34 million during the same quarter last year, which indicates a positive year over year growth rate of 24.7%. The business is expected to issue its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that Rexford Industrial Realty will report full year sales of $208.75 million for the current year, with estimates ranging from $202.30 million to $214.66 million. For the next fiscal year, analysts forecast that the firm will post sales of $234.14 million per share, with estimates ranging from $213.98 million to $256.36 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.20). Rexford Industrial Realty had a net margin of 20.19% and a return on equity of 2.93%. The firm had revenue of $51.76 million during the quarter, compared to analyst estimates of $49.60 million.

Several equities analysts have recently issued reports on REXR shares. Zacks Investment Research lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Capital One Financial raised shares of Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 1st. Stifel Nicolaus boosted their price target on shares of Rexford Industrial Realty from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 4th. DA Davidson boosted their price target on shares of Rexford Industrial Realty from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. Finally, TheStreet lowered shares of Rexford Industrial Realty from a “b” rating to a “c+” rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.38.

In related news, Director Richard S. Ziman sold 102,043 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $31.32, for a total value of $3,195,986.76. Following the sale, the director now directly owns 64,918 shares of the company’s stock, valued at approximately $2,033,231.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in Rexford Industrial Realty by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 656,883 shares of the real estate investment trust’s stock worth $20,620,000 after buying an additional 30,630 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Rexford Industrial Realty by 3.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,204 shares of the real estate investment trust’s stock worth $3,020,000 after buying an additional 2,953 shares in the last quarter. Verition Fund Management LLC bought a new stake in Rexford Industrial Realty during the 2nd quarter worth about $854,000. Phocas Financial Corp. lifted its position in Rexford Industrial Realty by 6.1% during the 2nd quarter. Phocas Financial Corp. now owns 518,358 shares of the real estate investment trust’s stock worth $16,271,000 after buying an additional 29,741 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its position in Rexford Industrial Realty by 10.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 38,874 shares of the real estate investment trust’s stock worth $1,220,000 after buying an additional 3,583 shares in the last quarter. 99.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of REXR stock traded down $0.03 on Wednesday, hitting $32.01. The stock had a trading volume of 460,400 shares, compared to its average volume of 619,010. Rexford Industrial Realty has a twelve month low of $26.32 and a twelve month high of $32.91. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 3.71 and a beta of 0.70. The company has a quick ratio of 8.47, a current ratio of 8.47 and a debt-to-equity ratio of 0.48.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.16 dividend. The ex-dividend date is Thursday, September 27th. This represents a $0.64 annualized dividend and a yield of 2.00%. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.

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 166 properties with approximately 20.3 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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