$38.82 Million in Sales Expected for Rexford Industrial Realty, Inc. (REXR) This Quarter
Brokerages predict that Rexford Industrial Realty, Inc. (NYSE:REXR) will post $38.82 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Rexford Industrial Realty’s earnings. The lowest sales estimate is $36.74 million and the highest is $41.06 million. Rexford Industrial Realty reported sales of $33.30 million during the same quarter last year, which would suggest a positive year over year growth rate of 16.6%. The business is expected to issue its next earnings report on Wednesday, November 1st.
On average, analysts expect that Rexford Industrial Realty will report full year sales of $38.82 million for the current year, with estimates ranging from $145.41 million to $157.31 million. For the next fiscal year, analysts anticipate that the company will post sales of $179.80 million per share, with estimates ranging from $153.91 million to $204.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Rexford Industrial Realty.
Several research analysts recently issued reports on REXR shares. Wunderlich lifted their price objective on Rexford Industrial Realty from $22.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, May 10th. National Securities restated a “neutral” rating and set a $14.00 price objective on shares of Rexford Industrial Realty in a research report on Friday, May 12th. Stifel Nicolaus lifted their price objective on Rexford Industrial Realty from $27.50 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, June 14th. FBR & Co restated a “marketperform” rating and set a $26.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, July 11th. Finally, BidaskClub downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $23.75.
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Shares of Rexford Industrial Realty (NYSE:REXR) opened at 28.31 on Wednesday. The stock has a 50 day moving average price of $27.81 and a 200-day moving average price of $25.28. Rexford Industrial Realty has a 52-week low of $20.05 and a 52-week high of $29.02. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 60.62 and a beta of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.145 per share. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, September 28th. Rexford Industrial Realty’s payout ratio is currently 128.89%.
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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