Zacks: Analysts Expect Rexford Industrial Realty Inc (NYSE:REXR) Will Announce Quarterly Sales of $71.31 Million

Equities research analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to post sales of $71.31 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $68.67 million and the highest is $72.95 million. Rexford Industrial Realty reported sales of $57.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 25.1%. The business is scheduled to report its next earnings report on Tuesday, February 11th.

On average, analysts expect that Rexford Industrial Realty will report full-year sales of $263.35 million for the current year, with estimates ranging from $261.49 million to $265.77 million. For the next financial year, analysts forecast that the company will post sales of $307.87 million, with estimates ranging from $286.96 million to $321.06 million. Zacks’ sales averages 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 quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a return on equity of 2.61% and a net margin of 21.32%. The firm had revenue of $68.06 million during the quarter, compared to the consensus estimate of $67.50 million. During the same period in the prior year, the business earned $0.28 EPS. The firm’s revenue was up 23.3% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. Citigroup upped their price target on shares of Rexford Industrial Realty from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. ValuEngine lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rexford Industrial Realty from $43.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $45.60.

Shares of NYSE:REXR traded up $0.55 during midday trading on Tuesday, hitting $47.75. The company had a trading volume of 617,603 shares, compared to its average volume of 448,094. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 4.98 and a beta of 0.75. The firm has a fifty day simple moving average of $46.01 and a 200 day simple moving average of $44.59. Rexford Industrial Realty has a 12 month low of $31.57 and a 12 month high of $48.80. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 0.38.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Monday, December 30th. Rexford Industrial Realty’s dividend payout ratio is currently 66.07%.

In related news, CFO Adeel Khan sold 49,721 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $46.01, for a total transaction of $2,287,663.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael S. Frankel sold 12,536 shares of Rexford Industrial Realty stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $47.46, for a total transaction of $594,958.56. Following the transaction, the chief executive officer now directly owns 71,834 shares of the company’s stock, valued at $3,409,241.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,720 shares of company stock valued at $4,583,782. Company insiders own 1.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its position in shares of Rexford Industrial Realty by 1,220.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,183,483 shares of the real estate investment trust’s stock valued at $249,626,000 after acquiring an additional 5,715,137 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Rexford Industrial Realty by 8,836.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,593,894 shares of the real estate investment trust’s stock valued at $145,086,000 after acquiring an additional 3,553,677 shares during the period. PGGM Investments raised its holdings in Rexford Industrial Realty by 73.2% during the fourth quarter. PGGM Investments now owns 7,810,326 shares of the real estate investment trust’s stock worth $356,698,000 after acquiring an additional 3,301,863 shares in the last quarter. Invesco Ltd. grew its position in shares of Rexford Industrial Realty by 2,091.0% in the second quarter. Invesco Ltd. now owns 2,515,501 shares of the real estate investment trust’s stock valued at $101,551,000 after purchasing an additional 2,400,690 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 14,905,784 shares of the real estate investment trust’s stock valued at $601,746,000 after purchasing an additional 929,535 shares in the last quarter. 97.02% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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

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