Wall Street analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to report sales of $63.34 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Rexford Industrial Realty’s earnings, with the lowest sales estimate coming in at $60.70 million and the highest estimate coming in at $65.26 million. Rexford Industrial Realty reported sales of $51.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.4%. The business is expected to report its next quarterly earnings report on Tuesday, July 30th.
On average, analysts expect that Rexford Industrial Realty will report full year sales of $256.49 million for the current fiscal year, with estimates ranging from $244.86 million to $265.50 million. For the next fiscal year, analysts forecast that the business will report sales of $283.91 million, with estimates ranging from $251.90 million to $312.32 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.20). The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS.
In other news, General Counsel David E. Lanzer sold 5,085 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $38.19, for a total value of $194,196.15. Following the transaction, the general counsel now owns 5,718 shares of the company’s stock, valued at approximately $218,370.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in shares of 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 worth $37,000 after buying an additional 619 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Rexford Industrial Realty in the first quarter worth about $60,000. Quadrant Capital Group LLC acquired a new position in shares of Rexford Industrial Realty in the first quarter worth about $69,000. US Bancorp DE boosted its holdings in shares of Rexford Industrial Realty by 5.4% in the first quarter. US Bancorp DE now owns 5,540 shares of the real estate investment trust’s stock worth $198,000 after buying an additional 286 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Rexford Industrial Realty by 289.0% in the first quarter. Nisa Investment Advisors LLC now owns 5,835 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 4,335 shares during the period. 97.19% of the stock is currently owned by institutional investors.
Rexford Industrial Realty stock traded up $0.46 during trading hours on Wednesday, hitting $38.07. 422,256 shares of the company traded hands, compared to its average volume of 549,612. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of 33.99, a PEG ratio of 4.14 and a beta of 0.87. The company has a current ratio of 8.34, a quick ratio of 8.81 and a debt-to-equity ratio of 0.38. Rexford Industrial Realty has a 1-year low of $28.17 and a 1-year high of $39.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.185 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.74 annualized dividend and a dividend yield of 1.94%. Rexford Industrial Realty’s dividend payout ratio is currently 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 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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