Analysts Anticipate Rexford Industrial Realty, Inc. (REXR) Will Post Quarterly Sales of $38.82 Million
Analysts predict that Rexford Industrial Realty, Inc. (NYSE:REXR) will post $38.82 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $36.74 million and the highest is $41.06 million. Rexford Industrial Realty reported sales of $33.30 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.6%. The business is scheduled to issue its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Rexford Industrial Realty will report full-year sales of $38.82 million for the current fiscal year, with estimates ranging from $145.41 million to $157.31 million. For the next fiscal year, analysts expect that the company will report sales of $179.80 million per share, with estimates ranging from $153.91 million to $204.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Rexford Industrial Realty.
A number of analysts have recently weighed in on REXR shares. FBR & Co reaffirmed a “marketperform” rating and issued a $26.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, July 11th. Stifel Nicolaus increased their target price on shares of Rexford Industrial Realty from $27.50 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, June 14th. BidaskClub lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. National Securities reissued a “neutral” rating and set a $14.00 target price on shares of Rexford Industrial Realty in a research note on Friday, May 12th. Finally, Wunderlich increased their target price on shares of Rexford Industrial Realty from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $23.75.
Shares of Rexford Industrial Realty (REXR) opened at 28.31 on Wednesday. Rexford Industrial Realty has a 52-week low of $20.05 and a 52-week high of $29.02. The stock’s 50 day moving average is $27.81 and its 200-day moving average is $25.28. The firm has a market capitalization of $2.00 billion, a P/E ratio of 60.62 and a beta of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.145 per share. The ex-dividend date is Thursday, September 28th. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a yield of 2.05%. Rexford Industrial Realty’s dividend payout ratio is currently 128.89%.
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About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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