Rexford Industrial Realty, Inc. (NYSE:REXR) Expected to Post Quarterly Sales of $124.72 Million

Equities research analysts predict that Rexford Industrial Realty, Inc. (NYSE:REXR) will report sales of $124.72 million for the current quarter, according to Zacks. Two analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $125.80 million and the lowest estimate coming in at $123.63 million. Rexford Industrial Realty reported sales of $88.65 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The firm is expected to announce its next earnings report after the market closes on Wednesday, February 9th.

On average, analysts expect that Rexford Industrial Realty will report full year sales of $444.04 million for the current year, with estimates ranging from $442.77 million to $445.30 million. For the next financial year, analysts expect that the business will post sales of $532.59 million, with estimates ranging from $506.97 million to $558.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11. The firm had revenue of $115.40 million during the quarter, compared to analysts’ expectations of $111.08 million. Rexford Industrial Realty had a return on equity of 2.97% and a net margin of 26.46%. Rexford Industrial Realty’s quarterly revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share.

Several research analysts have issued reports on REXR shares. Robert W. Baird reiterated an “outperform” rating and set a $82.00 price objective (up from $74.00) on shares of Rexford Industrial Realty in a research note on Monday, October 25th. Wells Fargo & Company upgraded Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating and set a $83.00 price objective for the company in a research note on Tuesday, December 14th. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upgraded Rexford Industrial Realty from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $78.00 to $84.00 in a research note on Monday, December 20th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $75.80.

In other news, CEO Michael S. Frankel sold 115,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 10th. The shares were sold at an average price of $69.66, for a total transaction of $8,010,900.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in REXR. First Trust Advisors LP lifted its position in shares of Rexford Industrial Realty by 419.1% during the first quarter. First Trust Advisors LP now owns 90,000 shares of the real estate investment trust’s stock worth $3,223,000 after purchasing an additional 72,663 shares in the last quarter. Rafferty Asset Management LLC lifted its position in shares of Rexford Industrial Realty by 61.5% during the second quarter. Rafferty Asset Management LLC now owns 10,520 shares of the real estate investment trust’s stock worth $599,000 after purchasing an additional 4,008 shares in the last quarter. Citigroup Inc. lifted its position in shares of Rexford Industrial Realty by 1.4% during the second quarter. Citigroup Inc. now owns 302,185 shares of the real estate investment trust’s stock worth $17,210,000 after purchasing an additional 4,171 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Rexford Industrial Realty by 75.6% during the second quarter. Van ECK Associates Corp now owns 31,933 shares of the real estate investment trust’s stock worth $1,819,000 after purchasing an additional 13,747 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Rexford Industrial Realty by 174.3% in the second quarter. BNP Paribas Arbitrage SA now owns 170,675 shares of the real estate investment trust’s stock valued at $9,720,000 after buying an additional 108,464 shares during the period. Institutional investors own 99.76% of the company’s stock.

Shares of REXR stock opened at $74.04 on Friday. The stock has a market cap of $11.22 billion, a P/E ratio of 110.51, a price-to-earnings-growth ratio of 2.96 and a beta of 0.70. Rexford Industrial Realty has a one year low of $45.90 and a one year high of $81.68. The stock has a fifty day moving average price of $74.25 and a 200 day moving average price of $65.60. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.90 and a quick ratio of 0.90.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, December 30th. Rexford Industrial Realty’s dividend payout ratio is presently 143.28%.

Rexford Industrial Realty Company Profile

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

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