Wall Street analysts forecast that Rexford Industrial Realty Inc (NYSE:REXR) will report sales of $70.12 million for the current quarter, Zacks reports. Three analysts have made estimates for Rexford Industrial Realty’s earnings, with estimates ranging from $68.67 million to $72.30 million. Rexford Industrial Realty posted sales of $57.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 23%. The company is scheduled to issue its next earnings report on Tuesday, February 11th.
According to Zacks, analysts expect that Rexford Industrial Realty will report full-year sales of $261.26 million for the current year, with estimates ranging from $259.48 million to $262.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $304.18 million, with estimates ranging from $286.94 million to $315.60 million. Zacks’ sales calculations are an average based on a survey of research firms 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 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. Rexford Industrial Realty had a net margin of 21.32% and a return on equity of 2.61%. The firm had revenue of $68.06 million during the quarter, compared to analysts’ expectations of $67.50 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis.
Shares of NYSE REXR traded up $0.19 during midday trading on Friday, reaching $47.18. 690,020 shares of the stock were exchanged, compared to its average volume of 706,788. The business has a 50-day simple moving average of $46.96 and a two-hundred day simple moving average of $43.16. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 42.13, a P/E/G ratio of 5.57 and a beta of 0.77. Rexford Industrial Realty has a 12 month low of $28.17 and a 12 month high of $48.80. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.82 and a quick ratio of 5.82.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.185 per share. The ex-dividend date is Monday, December 30th. This represents a $0.74 annualized dividend and a yield of 1.57%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 66.07%.
In other news, CFO Adeel Khan sold 49,721 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $46.01, for a total value of $2,287,663.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael S. Frankel sold 35,463 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $47.97, for a total value of $1,701,160.11. Following the completion of the sale, the chief executive officer now owns 71,834 shares in the company, valued at $3,445,876.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,720 shares of company stock worth $4,583,782. Insiders own 1.70% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. bought a new position in Rexford Industrial Realty in the second quarter valued at $36,000. New York State Teachers Retirement System acquired a new stake in shares of Rexford Industrial Realty in the third quarter valued at about $40,000. Whittier Trust Co. raised its holdings in Rexford Industrial Realty by 96.5% during the second quarter. Whittier Trust Co. now owns 2,335 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 1,147 shares in the last quarter. NEXT Financial Group Inc raised its holdings 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 acquiring an additional 914 shares in the last quarter. Finally, Pearl River Capital LLC acquired a new position in Rexford Industrial Realty during the second quarter valued at approximately $124,000. Institutional investors and hedge funds own 99.51% 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 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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