Rexford Industrial Realty, Inc. (NYSE:REXR) Expected to Post Quarterly Sales of $100.34


Wall Street analysts expect that Rexford Industrial Realty, Inc. (NYSE:REXR) will report $100.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $98.88 million to $101.80 million. Rexford Industrial Realty reported sales of $79.95 million during the same quarter last year, which indicates a positive year over year growth rate of 25.5%. The company is scheduled to report its next earnings results on Tuesday, July 20th.

On average, analysts expect that Rexford Industrial Realty will report full-year sales of $413.35 million for the current year, with estimates ranging from $405.28 million to $418.20 million. For the next financial year, analysts expect that the business will report sales of $460.66 million, with estimates ranging from $436.19 million to $482.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Tuesday, April 20th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.03. The firm had revenue of $99.80 million during the quarter, compared to the consensus estimate of $99.71 million. Rexford Industrial Realty had a net margin of 26.29% and a return on equity of 3.14%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 EPS.

Several research firms have recently commented on REXR. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Friday, March 26th. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Thursday.

(Ad)

70 years ago, fast food revolutionized the food industry. And now, “Fast Cannabis” is about to do the same thing to cannabis.

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 77,670 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $55.26, for a total value of $4,292,044.20. Following the sale, the chief executive officer now directly owns 55,170 shares of the company’s stock, valued at $3,048,694.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael S. Frankel sold 6,195 shares of the stock in a transaction on Wednesday, April 28th. The stock was sold at an average price of $55.54, for a total value of $344,070.30. Following the completion of the sale, the chief executive officer now directly owns 55,170 shares in the company, valued at $3,064,141.80. The disclosure for this sale can be found here. Insiders sold 86,675 shares of company stock worth $4,791,620 over the last ninety days. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Rexford Industrial Realty by 6.1% during the fourth quarter. BlackRock Inc. now owns 17,804,507 shares of the real estate investment trust’s stock valued at $874,380,000 after purchasing an additional 1,026,031 shares during the last quarter. PGGM Investments lifted its position in shares of Rexford Industrial Realty by 1.2% in the 4th quarter. PGGM Investments now owns 8,390,819 shares of the real estate investment trust’s stock valued at $412,073,000 after acquiring an additional 101,000 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Rexford Industrial Realty by 1.3% in the 4th quarter. Principal Financial Group Inc. now owns 8,049,199 shares of the real estate investment trust’s stock valued at $395,295,000 after acquiring an additional 104,326 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Rexford Industrial Realty by 4.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,469,304 shares of the real estate investment trust’s stock valued at $121,267,000 after buying an additional 116,231 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Rexford Industrial Realty by 11.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,436,690 shares of the real estate investment trust’s stock worth $119,665,000 after buying an additional 249,221 shares during the period. 98.73% of the stock is owned by institutional investors and hedge funds.

NYSE REXR opened at $54.58 on Friday. The stock has a market cap of $7.32 billion, a PE ratio of 94.10, a P/E/G ratio of 5.10 and a beta of 0.59. Rexford Industrial Realty has a fifty-two week low of $35.68 and a fifty-two week high of $57.23. The business has a 50 day moving average price of $53.09 and a two-hundred day moving average price of $49.75. The company has a quick ratio of 6.46, a current ratio of 6.45 and a debt-to-equity ratio of 0.32.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Tuesday, June 29th. Rexford Industrial Realty’s dividend payout ratio is presently 78.05%.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning, operating, and acquiring industrial properties. The company was founded on January 18, 2013 and is headquartered in Los Angeles, CA.

Featured Story: Trading Halts Explained

Get a free copy of the Zacks research report on Rexford Industrial Realty (REXR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Why do companies engage in swaps?

7 Stocks That Cathie Wood is Buying And You Should Too

If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.

The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.

As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.

But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.

In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.

View the “7 Stocks That Cathie Wood is Buying And You Should Too”.



Read More:Rexford Industrial Realty, Inc. (NYSE:REXR) Expected to Post Quarterly Sales of $100.34

Leave a Reply

Your email address will not be published. Required fields are marked *