Wall Street brokerages forecast that Rexford Industrial Realty Inc (NYSE:REXR) will report sales of $66.37 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $65.34 million and the highest is $67.10 million. Rexford Industrial Realty reported sales of $54.47 million during the same quarter last year, which indicates a positive year over year growth rate of 21.8%. The business is scheduled to report its next earnings report after the market closes on Tuesday, October 29th.
On average, analysts expect that Rexford Industrial Realty will report full year sales of $259.04 million for the current year, with estimates ranging from $256.84 million to $260.80 million. For the next year, analysts forecast that the company will report sales of $299.15 million, with estimates ranging from $275.93 million to $311.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.17). The company had revenue of $63.60 million during the quarter, compared to analysts’ expectations of $63.33 million. Rexford Industrial Realty had a net margin of 21.02% and a return on equity of 2.63%. Rexford Industrial Realty’s revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted $0.27 earnings per share.
In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 23,600 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $41.70, for a total transaction of $984,120.00. Following the completion of the transaction, the chief executive officer now owns 68,958 shares in the company, valued at approximately $2,875,548.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Rexford Industrial Realty by 0.9% in the 2nd quarter. AQR Capital Management LLC now owns 31,976 shares of the real estate investment trust’s stock valued at $1,291,000 after buying an additional 293 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 4.0% in the 2nd quarter. Advisor Group Inc. now owns 9,897 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 379 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Rexford Industrial Realty by 7.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,419 shares of the real estate investment trust’s stock valued at $219,000 after buying an additional 380 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Rexford Industrial Realty by 9.2% in the 2nd quarter. Assetmark Inc. now owns 4,909 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 415 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Rexford Industrial Realty by 0.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 215,025 shares of the real estate investment trust’s stock valued at $8,680,000 after purchasing an additional 595 shares during the last quarter. Institutional investors and hedge funds own 99.01% of the company’s stock.
Shares of Rexford Industrial Realty stock traded up $0.21 on Tuesday, reaching $46.44. The company had a trading volume of 380,876 shares, compared to its average volume of 713,000. The firm’s 50 day moving average price is $44.45 and its two-hundred day moving average price is $40.83. The firm has a market cap of $5.07 billion, a PE ratio of 41.46, a PEG ratio of 5.29 and a beta of 0.78. Rexford Industrial Realty has a 52-week low of $28.17 and a 52-week high of $46.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 7.17 and a current ratio of 7.17.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, September 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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