Wall Street brokerages expect Rexford Industrial Realty Inc (NYSE:REXR) to report $53.95 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $55.44 million and the lowest estimate coming in at $50.89 million. Rexford Industrial Realty posted sales of $43.34 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 24.5%. The company is scheduled to issue its next earnings results on Tuesday, October 30th.
On average, analysts expect that Rexford Industrial Realty will report full-year sales of $208.50 million for the current fiscal year, with estimates ranging from $202.30 million to $213.37 million. For the next financial year, analysts anticipate that the firm will report sales of $233.86 million per share, with estimates ranging from $213.98 million to $254.96 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Rexford Industrial Realty.
Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.20). Rexford Industrial Realty had a return on equity of 2.93% and a net margin of 20.19%. The business had revenue of $51.76 million for the quarter, compared to the consensus estimate of $49.60 million.
Rexford Industrial Realty stock traded down $0.25 during midday trading on Friday, hitting $31.23. 249,407 shares of the company’s stock were exchanged, compared to its average volume of 444,896. The company has a debt-to-equity ratio of 0.48, a current ratio of 8.47 and a quick ratio of 1.08. Rexford Industrial Realty has a 12 month low of $26.32 and a 12 month high of $32.91. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.65 and a beta of 0.70.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, September 27th. Rexford Industrial Realty’s dividend payout ratio is currently 66.67%.
In other news, Director Richard S. Ziman sold 102,043 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $31.32, for a total value of $3,195,986.76. Following the sale, the director now directly owns 64,918 shares in the company, valued at approximately $2,033,231.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.80% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in REXR. Heitman Real Estate Securities LLC boosted its stake in Rexford Industrial Realty by 21.7% in the 2nd quarter. Heitman Real Estate Securities LLC now owns 601,769 shares of the real estate investment trust’s stock worth $21,626,000 after purchasing an additional 107,199 shares in the last quarter. United Services Automobile Association boosted its stake in Rexford Industrial Realty by 22.0% in the 2nd quarter. United Services Automobile Association now owns 21,311 shares of the real estate investment trust’s stock worth $669,000 after purchasing an additional 3,846 shares in the last quarter. Highstreet Asset Management Inc. boosted its stake in Rexford Industrial Realty by 2,215.5% in the 2nd quarter. Highstreet Asset Management Inc. now owns 25,378 shares of the real estate investment trust’s stock worth $797,000 after purchasing an additional 24,282 shares in the last quarter. NumerixS Investment Technologies Inc boosted its stake in Rexford Industrial Realty by 167.4% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 11,500 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 7,200 shares in the last quarter. Finally, FMR LLC boosted its stake in Rexford Industrial Realty by 37.4% in the 2nd quarter. FMR LLC now owns 7,561,704 shares of the real estate investment trust’s stock worth $237,361,000 after purchasing an additional 2,057,501 shares in the last quarter.
Rexford Industrial Realty Company Profile
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 158 properties with approximately 19.1 million rentable square feet and manages an additional 19 properties with approximately 1.2 million rentable square feet.
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