Brokerages expect that Rexford Industrial Realty Inc (NYSE:REXR) will post $55.62 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $53.57 million to $57.44 million. Rexford Industrial Realty posted sales of $45.88 million in the same quarter last year, which suggests a positive year over year growth rate of 21.2%. The company is expected to issue its next earnings report on Tuesday, February 12th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full-year sales of $209.26 million for the current financial year, with estimates ranging from $206.00 million to $211.31 million. For the next financial year, analysts expect that the company will post sales of $236.72 million, with estimates ranging from $223.29 million to $249.95 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.04. The business had revenue of $54.47 million during the quarter, compared to analyst estimates of $55.09 million. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS.
Shares of Rexford Industrial Realty stock traded up $0.12 during trading on Monday, hitting $31.71. 14,395 shares of the stock traded hands, compared to its average volume of 573,964. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 3.29 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.21 and a quick ratio of 6.21. Rexford Industrial Realty has a twelve month low of $26.32 and a twelve month high of $33.54.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 15th. Investors of record on Monday, December 31st were issued a $0.16 dividend. The ex-dividend date was Friday, December 28th. This represents a $0.64 annualized dividend and a yield of 2.02%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.67%.
In related news, CFO Adeel Khan bought 2,250 shares of Rexford Industrial Realty stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average cost of $22.43 per share, for a total transaction of $50,467.50. Following the acquisition, the chief financial officer now owns 2,250 shares in the company, valued at $50,467.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Timbercreek Investment Management Inc. increased its position in Rexford Industrial Realty by 5.0% in the 4th quarter. Timbercreek Investment Management Inc. now owns 243,700 shares of the real estate investment trust’s stock worth $7,182,000 after buying an additional 11,500 shares during the period. State of Alaska Department of Revenue increased its position in shares of Rexford Industrial Realty by 3.5% during the fourth quarter. State of Alaska Department of Revenue now owns 30,095 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 1,019 shares during the period. Vanguard Group Inc increased its position in shares of Rexford Industrial Realty by 9.9% during the third quarter. Vanguard Group Inc now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after purchasing an additional 1,128,837 shares during the period. Federated Investors Inc. PA increased its position in shares of Rexford Industrial Realty by 50.7% during the third quarter. Federated Investors Inc. PA now owns 6,608 shares of the real estate investment trust’s stock valued at $212,000 after purchasing an additional 2,222 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Rexford Industrial Realty by 9.9% during the third quarter. Vanguard Group Inc. now owns 12,569,018 shares of the real estate investment trust’s stock valued at $401,706,000 after purchasing an additional 1,128,837 shares during the period. 99.96% of the stock is currently owned by institutional investors.
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 168 properties with approximately 20.6 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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