Zacks: Analysts Anticipate Rexford Industrial Realty Inc (REXR) Will Announce Quarterly Sales of $54.03 Million
Wall Street brokerages expect Rexford Industrial Realty Inc (NYSE:REXR) to post sales of $54.03 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $50.89 million and the highest is $55.79 million. Rexford Industrial Realty posted sales of $43.34 million during the same quarter last year, which indicates a positive year-over-year growth rate of 24.7%. The firm is expected to issue its next earnings results after the market closes on Tuesday, October 30th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $208.75 million for the current financial year, with estimates ranging from $202.30 million to $214.66 million. For the next year, analysts expect that the business will report sales of $234.14 million, with estimates ranging from $213.98 million to $256.36 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.20). Rexford Industrial Realty had a return on equity of 2.93% and a net margin of 20.19%. The business had revenue of $51.76 million for the quarter, compared to the consensus estimate of $49.60 million.
Shares of NYSE REXR traded down $0.13 during midday trading on Friday, hitting $31.31. 420,000 shares of the company’s stock were exchanged, compared to its average volume of 606,610. The company has a current ratio of 8.47, a quick ratio of 8.47 and a debt-to-equity ratio of 0.48. Rexford Industrial Realty has a 12 month low of $26.32 and a 12 month high of $32.91. The company has a market capitalization of $2.92 billion, a P/E ratio of 32.67, a P/E/G ratio of 3.70 and a beta of 0.67.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.16 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.64 annualized dividend and a yield of 2.04%. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 66.67%.
In related news, Director Richard S. Ziman sold 102,043 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $31.32, for a total value of $3,195,986.76. Following the completion of the sale, the director now directly owns 64,918 shares in the company, valued at approximately $2,033,231.76. The transaction 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.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in Rexford Industrial Realty by 107.3% in the 2nd quarter. Macquarie Group Ltd. now owns 329,999 shares of the real estate investment trust’s stock valued at $10,358,000 after purchasing an additional 170,812 shares during the period. Strs Ohio lifted its position in shares of Rexford Industrial Realty by 2.7% during the 2nd quarter. Strs Ohio now owns 137,777 shares of the real estate investment trust’s stock valued at $4,324,000 after acquiring an additional 3,670 shares during the period. Toronto Dominion Bank bought a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at $282,000. American Century Companies Inc. bought a new stake in shares of Rexford Industrial Realty during the 2nd quarter valued at $15,615,000. Finally, Teachers Insurance & Annuity Association of America lifted its position in shares of Rexford Industrial Realty by 2.8% during the 2nd quarter. Teachers Insurance & Annuity Association of America now owns 103,295 shares of the real estate investment trust’s stock valued at $3,242,000 after acquiring an additional 2,778 shares during the period. Institutional investors and hedge funds own 99.35% of the company’s stock.
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 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.
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