Equities research analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to post sales of $63.27 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $60.70 million to $64.94 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 22.2%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Tuesday, July 30th.
On average, analysts expect that Rexford Industrial Realty will report full year sales of $256.21 million for the current year, with estimates ranging from $244.86 million to $264.06 million. For the next financial year, analysts expect that the firm will report sales of $290.96 million, with estimates ranging from $259.46 million to $308.51 million. Zacks Investment Research’s sales averages are a mean average based on a survey of 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 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.20). Rexford Industrial Realty had a net margin of 18.77% and a return on equity of 2.43%. The company had revenue of $60.36 million for the quarter, compared to analyst estimates of $60.05 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 24.4% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $41.00.
In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 5,085 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $38.19, for a total value of $194,196.15. Following the completion of the sale, the general counsel now directly owns 5,718 shares in the company, valued at $218,370.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Adeel Khan sold 40,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $38.00, for a total value of $1,520,000.00. Following the completion of the transaction, the chief financial officer now owns 40,000 shares of the company’s stock, valued at $1,520,000. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter worth approximately $60,000. Quadrant Capital Group LLC purchased a new position in Rexford Industrial Realty during the first quarter worth approximately $69,000. NEXT Financial Group Inc lifted its position in Rexford Industrial Realty by 58.3% during the second quarter. NEXT Financial Group Inc now owns 2,483 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 914 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Rexford Industrial Realty by 289.0% during 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 in the last quarter. Finally, Stevens Capital Management LP purchased a new position in Rexford Industrial Realty during the first quarter worth approximately $211,000. 98.19% of the stock is currently owned by hedge funds and other institutional investors.
REXR traded down $1.15 during trading on Tuesday, hitting $41.11. 32,790 shares of the company traded hands, compared to its average volume of 821,633. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 37.71, a P/E/G ratio of 4.60 and a beta of 0.84. Rexford Industrial Realty has a one year low of $28.17 and a one year high of $42.38. The firm’s fifty day moving average price is $40.36.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, June 27th. Rexford Industrial Realty’s dividend payout ratio (DPR) is presently 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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