Zacks: Analysts Anticipate Rexford Industrial Realty Inc (REXR) Will Post Quarterly Sales of $55.55 Million

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Wall Street analysts expect Rexford Industrial Realty Inc (NYSE:REXR) to announce $55.55 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Rexford Industrial Realty’s earnings, with the highest sales estimate coming in at $57.44 million and the lowest estimate coming in at $53.27 million. Rexford Industrial Realty reported sales of $45.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.1%. The company is scheduled to issue its next earnings results on Tuesday, February 12th.

On average, analysts expect that Rexford Industrial Realty will report full-year sales of $209.07 million for the current financial year, with estimates ranging from $206.00 million to $211.31 million. For the next fiscal year, analysts anticipate that the company will post sales of $236.48 million, with estimates ranging from $222.08 million to $249.95 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 released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Rexford Industrial Realty had a return on equity of 3.18% and a net margin of 22.47%. The firm had revenue of $54.47 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same period in the previous year, the firm posted $0.25 EPS. Rexford Industrial Realty’s revenue for the quarter was up 26.0% on a year-over-year basis.

Several research analysts recently commented on the company. TheStreet cut Rexford Industrial Realty from a “b” rating to a “c+” rating in a research note on Wednesday, August 1st. Zacks Investment Research raised Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Capital One Financial raised Rexford Industrial Realty from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $33.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in REXR. UBS Group AG lifted its holdings in Rexford Industrial Realty by 41.5% during the 1st quarter. UBS Group AG now owns 90,643 shares of the real estate investment trust’s stock worth $2,609,000 after buying an additional 26,595 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Rexford Industrial Realty by 104.2% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,230 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 2,158 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in Rexford Industrial Realty during the 1st quarter worth about $325,000. Principal Financial Group Inc. lifted its holdings in Rexford Industrial Realty by 7.6% during the 1st quarter. Principal Financial Group Inc. now owns 3,570,817 shares of the real estate investment trust’s stock worth $102,804,000 after buying an additional 251,106 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Rexford Industrial Realty by 50.4% during the 1st quarter. Allianz Asset Management GmbH now owns 392,510 shares of the real estate investment trust’s stock worth $11,300,000 after buying an additional 131,510 shares during the last quarter. 99.15% of the stock is owned by institutional investors.

REXR traded down $0.32 on Monday, hitting $32.98. 348,453 shares of the company were exchanged, compared to its average volume of 452,263. Rexford Industrial Realty has a twelve month low of $26.32 and a twelve month high of $33.46. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.81 and a beta of 0.66. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.21 and a quick ratio of 6.21.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Friday, December 28th. Rexford Industrial Realty’s dividend payout ratio (DPR) is 66.67%.

About Rexford Industrial Realty

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 166 properties with approximately 20.3 million rentable square feet and manages an 20 properties with approximately 1.2 million rentable square feet.

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Earnings History and Estimates for Rexford Industrial Realty (NYSE:REXR)

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