Rexford Industrial Realty Inc (REXR) Expected to Post Quarterly Sales of $58.65 Million

Analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to post $58.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Rexford Industrial Realty’s earnings. The highest sales estimate is $59.64 million and the lowest is $57.38 million. Rexford Industrial Realty posted sales of $48.54 million during the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The company is expected to issue its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Rexford Industrial Realty will report full-year sales of $246.28 million for the current year, with estimates ranging from $236.89 million to $255.30 million. For the next fiscal year, analysts expect that the firm will report sales of $271.47 million, with estimates ranging from $251.90 million to $292.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Rexford Industrial Realty had a return on equity of 2.98% and a net margin of 21.82%. The business had revenue of $56.13 million during the quarter, compared to analyst estimates of $55.81 million. During the same period last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis.

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. upgraded Rexford Industrial Realty from an “underweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, December 28th. Finally, Wells Fargo & Co increased their price objective on Rexford Industrial Realty from $32.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, March 14th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Rexford Industrial Realty presently has a consensus rating of “Buy” and a consensus target price of $36.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. raised its stake in Rexford Industrial Realty by 99.2% in the fourth quarter. Whittier Trust Co. now owns 1,243 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 619 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Rexford Industrial Realty by 3,095.8% in the third quarter. Rehmann Capital Advisory Group now owns 5,305 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 5,139 shares in the last quarter. Federated Investors Inc. PA raised its stake in Rexford Industrial Realty by 50.7% in the third quarter. Federated Investors Inc. PA now owns 6,608 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 2,222 shares in the last quarter. D.A. Davidson & CO. raised its stake in Rexford Industrial Realty by 6.5% in the fourth quarter. D.A. Davidson & CO. now owns 7,110 shares of the real estate investment trust’s stock valued at $210,000 after buying an additional 435 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in Rexford Industrial Realty by 5.9% in the fourth quarter. Advisor Group Inc. now owns 7,168 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 99.35% of the company’s stock.

Shares of NYSE REXR traded down $0.09 during mid-day trading on Friday, hitting $35.81. The company had a trading volume of 517,738 shares, compared to its average volume of 852,962. The stock has a market cap of $3.47 billion, a P/E ratio of 31.97, a PEG ratio of 4.22 and a beta of 0.87. The company has a current ratio of 8.81, a quick ratio of 8.81 and a debt-to-equity ratio of 0.43. Rexford Industrial Realty has a 1-year low of $27.78 and a 1-year high of $36.11.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.185 dividend. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.16. This represents a $0.74 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, March 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 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 168 properties with approximately 20.6 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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