Analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to report $45.29 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $46.91 million and the lowest estimate coming in at $43.14 million. Rexford Industrial Realty reported sales of $34.45 million during the same quarter last year, which indicates a positive year-over-year growth rate of 31.5%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, February 13th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $45.29 million for the current year, with estimates ranging from $156.00 million to $161.01 million. For the next financial year, analysts expect that the business will report sales of $194.30 million per share, with estimates ranging from $176.47 million to $212.70 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. Rexford Industrial Realty had a return on equity of 3.39% and a net margin of 23.50%. The business had revenue of $43.30 million during the quarter, compared to the consensus estimate of $41.77 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 30.0% compared to the same quarter last year.
A number of research firms have recently commented on REXR. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “sell” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. downgraded Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price for the company. in a research report on Friday, December 15th. National Securities reiterated a “buy” rating and set a $34.00 target price on shares of Rexford Industrial Realty in a research report on Monday, November 27th. B. Riley reiterated a “neutral” rating on shares of Rexford Industrial Realty in a research report on Tuesday, November 7th. Finally, BidaskClub upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $30.78.
A number of large investors have recently added to or reduced their stakes in the stock. Exane Derivatives raised its holdings in Rexford Industrial Realty by 473,133.3% during the 4th quarter. Exane Derivatives now owns 14,197 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 14,194 shares during the period. Fisher Asset Management LLC raised its holdings in Rexford Industrial Realty by 7.1% during the 4th quarter. Fisher Asset Management LLC now owns 162,350 shares of the real estate investment trust’s stock valued at $4,734,000 after buying an additional 10,792 shares during the period. Strs Ohio raised its holdings in Rexford Industrial Realty by 12.3% during the 4th quarter. Strs Ohio now owns 122,162 shares of the real estate investment trust’s stock valued at $3,562,000 after buying an additional 13,387 shares during the period. State of Alaska Department of Revenue raised its holdings in Rexford Industrial Realty by 8.6% during the 4th quarter. State of Alaska Department of Revenue now owns 44,270 shares of the real estate investment trust’s stock valued at $1,290,000 after buying an additional 3,510 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Rexford Industrial Realty by 13.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 818,734 shares of the real estate investment trust’s stock valued at $23,875,000 after buying an additional 97,035 shares during the period.
Rexford Industrial Realty (NYSE:REXR) traded up $0.76 during mid-day trading on Friday, reaching $29.69. The company’s stock had a trading volume of 453,063 shares, compared to its average volume of 402,205. Rexford Industrial Realty has a 1-year low of $21.34 and a 1-year high of $31.71. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. The company has a market cap of $2,266.08, a P/E ratio of 68.82, a price-to-earnings-growth ratio of 3.91 and a beta of 0.77.
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About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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