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.
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.
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