Rexford Industrial Realty Inc (REXR) Expected to Announce Quarterly Sales of $39.32 Million
Equities analysts forecast that Rexford Industrial Realty Inc (NASDAQ:REXR) will post $39.32 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $42.20 million and the lowest estimate coming in at $36.74 million. Rexford Industrial Realty posted sales of $33.30 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.1%. The business is expected to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $39.32 million for the current fiscal year, with estimates ranging from $145.41 million to $161.00 million. For the next year, analysts expect that the company will report sales of $182.74 million per share, with estimates ranging from $153.91 million to $209.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NASDAQ:REXR) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The company had revenue of $36.78 million during the quarter, compared to the consensus estimate of $36.75 million. During the same period in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was up 20.2% on a year-over-year basis.
Several research analysts have commented on REXR shares. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target (up from $27.50) on shares of Rexford Industrial Realty in a report on Wednesday, June 14th. Jefferies Group LLC restated a “buy” rating and set a $32.00 price objective (up previously from $26.00) on shares of Rexford Industrial Realty in a research report on Sunday, June 25th. FBR & Co assumed coverage on shares of Rexford Industrial Realty in a research report on Tuesday, July 11th. They issued a “mkt perform” rating and a $26.00 target price on the stock. DA Davidson reiterated a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, July 13th. Finally, Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, August 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.43.
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Rexford Industrial Realty (NASDAQ REXR) traded down 0.47% during midday trading on Friday, hitting $29.94. 529,830 shares of the stock were exchanged. The firm’s 50-day moving average price is $28.67 and its 200 day moving average price is $26.06. Rexford Industrial Realty has a 1-year low of $20.05 and a 1-year high of $30.32. The firm has a market capitalization of $2.12 billion and a P/E ratio of 64.11.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, September 28th.
A number of institutional investors have recently made changes to their positions in the business. Navellier & Associates Inc grew its holdings in Rexford Industrial Realty by 9.4% in the 2nd quarter. Navellier & Associates Inc now owns 38,935 shares of the company’s stock worth $1,068,000 after acquiring an additional 3,331 shares during the last quarter. Phocas Financial Corp. grew its holdings in Rexford Industrial Realty by 6.9% in the 2nd quarter. Phocas Financial Corp. now owns 501,964 shares of the company’s stock worth $13,774,000 after acquiring an additional 32,521 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Rexford Industrial Realty in the 2nd quarter worth $310,000. Susquehanna International Group LLP grew its holdings in Rexford Industrial Realty by 141.3% in the 2nd quarter. Susquehanna International Group LLP now owns 119,193 shares of the company’s stock worth $3,271,000 after acquiring an additional 69,787 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Rexford Industrial Realty by 1.8% in the 2nd quarter. Assetmark Inc. now owns 288,587 shares of the company’s stock worth $7,919,000 after acquiring an additional 5,191 shares during the last quarter.
Rexford Industrial Realty Company Profile
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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