Analysts Anticipate Rexford Industrial Realty, Inc. (REXR) Will Announce Quarterly Sales of $39.44 Million
Equities research analysts expect Rexford Industrial Realty, Inc. (NYSE:REXR) to report sales of $39.44 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $36.74 million and the highest is $42.20 million. Rexford Industrial Realty posted sales of $33.30 million during the same quarter last year, which suggests a positive year over year growth rate of 18.4%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Rexford Industrial Realty will report full-year sales of $39.44 million for the current year, with estimates ranging from $145.41 million to $161.00 million. For the next financial year, analysts anticipate that the firm will post sales of $181.24 million per share, with estimates ranging from $153.91 million to $209.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Rexford Industrial Realty.
REXR has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on shares of Rexford Industrial Realty from $27.50 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, June 14th. FBR & Co reaffirmed a “marketperform” rating and issued a $26.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, July 11th. BidaskClub lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, J P Morgan Chase & Co lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.75.
Rexford Industrial Realty (REXR) opened at 30.00 on Wednesday. Rexford Industrial Realty has a one year low of $20.05 and a one year high of $30.60. The stock has a 50 day moving average price of $29.57 and a 200 day moving average price of $27.26. The firm has a market capitalization of $2.12 billion, a P/E ratio of 64.24 and a beta of 0.75.
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 given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.93%. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.14. The ex-dividend date is Thursday, September 28th. Rexford Industrial Realty’s dividend payout ratio is presently 128.89%.
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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