Equities research analysts expect that Rexford Industrial Realty Inc (NYSE:REXR) will post $46.54 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $43.56 million and the highest is $49.64 million. Rexford Industrial Realty reported sales of $35.35 million in the same quarter last year, which indicates a positive year over year growth rate of 31.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Rexford Industrial Realty will report full year sales of $46.54 million for the current financial year, with estimates ranging from $176.47 million to $212.70 million. For the next fiscal year, analysts expect that the business will report sales of $220.57 million per share, with estimates ranging from $182.89 million to $260.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Rexford Industrial Realty.
A number of research firms recently weighed in on REXR. B. Riley reissued a “neutral” rating on shares of Rexford Industrial Realty in a research note on Tuesday, November 7th. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, January 4th. Citigroup boosted their price objective on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, October 17th. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Friday, December 15th. Finally, BidaskClub cut shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $30.78.
A number of hedge funds and other institutional investors have recently modified their holdings of REXR. Principal Financial Group Inc. grew its holdings in Rexford Industrial Realty by 93.4% during the third quarter. Principal Financial Group Inc. now owns 3,235,956 shares of the real estate investment trust’s stock valued at $92,613,000 after purchasing an additional 1,562,996 shares during the period. BlackRock Inc. grew its holdings in Rexford Industrial Realty by 9.1% during the fourth quarter. BlackRock Inc. now owns 7,037,823 shares of the real estate investment trust’s stock valued at $205,221,000 after purchasing an additional 588,051 shares during the period. 1060 Capital LLC acquired a new position in Rexford Industrial Realty during the third quarter valued at approximately $15,172,000. Eagle Asset Management Inc. acquired a new position in shares of Rexford Industrial Realty in the third quarter valued at approximately $15,020,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Rexford Industrial Realty by 35.3% in the fourth quarter. Renaissance Technologies LLC now owns 1,331,200 shares of the real estate investment trust’s stock valued at $38,818,000 after buying an additional 347,400 shares during the period. Hedge funds and other institutional investors own 99.75% of the company’s stock.
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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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