Wall Street brokerages forecast that Rexford Industrial Realty Inc (NYSE:REXR) will announce $49.60 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Rexford Industrial Realty’s earnings, with the lowest sales estimate coming in at $48.71 million and the highest estimate coming in at $51.06 million. Rexford Industrial Realty posted sales of $36.78 million during the same quarter last year, which suggests a positive year over year growth rate of 34.9%. The firm is expected to report its next earnings results on Tuesday, August 7th.

On average, analysts expect that Rexford Industrial Realty will report full-year sales of $201.13 million for the current financial year, with estimates ranging from $195.46 million to $205.20 million. For the next financial year, analysts expect that the business will report sales of $223.40 million per share, with estimates ranging from $204.07 million to $238.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Rexford Industrial Realty.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.10). The firm had revenue of $48.54 million for the quarter, compared to analysts’ expectations of $46.04 million. Rexford Industrial Realty had a return on equity of 4.29% and a net margin of 28.58%. The company’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share.

A number of research analysts recently issued reports on REXR shares. Stifel Nicolaus lifted their target price on Rexford Industrial Realty from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, May 4th. National Securities reiterated a “buy” rating and issued a $34.00 target price on shares of Rexford Industrial Realty in a report on Tuesday, February 27th. DA Davidson lifted their target price on Rexford Industrial Realty from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded Rexford Industrial Realty from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Finally, B. Riley set a $30.00 target price on Rexford Industrial Realty and gave the company a “hold” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Rexford Industrial Realty presently has an average rating of “Hold” and a consensus target price of $32.33.

In other Rexford Industrial Realty news, CFO Adeel Khan sold 17,599 shares of the firm’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $32.36, for a total value of $569,503.64. Following the sale, the chief financial officer now directly owns 9,053 shares in the company, valued at $292,955.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in shares of Rexford Industrial Realty by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 592,789 shares of the real estate investment trust’s stock worth $17,285,000 after purchasing an additional 6,602 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Rexford Industrial Realty by 0.9% during the fourth quarter. Teachers Advisors LLC now owns 2,462,427 shares of the real estate investment trust’s stock worth $71,804,000 after purchasing an additional 21,827 shares in the last quarter. Deutsche Bank AG increased its position in shares of Rexford Industrial Realty by 1.2% during the fourth quarter. Deutsche Bank AG now owns 6,101,827 shares of the real estate investment trust’s stock worth $177,925,000 after purchasing an additional 73,254 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Rexford Industrial Realty by 6.6% during the fourth quarter. Schroder Investment Management Group now owns 1,135,577 shares of the real estate investment trust’s stock worth $33,113,000 after purchasing an additional 70,077 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its position in shares of Rexford Industrial Realty by 0.3% during the fourth quarter. Kennedy Capital Management Inc. now owns 856,936 shares of the real estate investment trust’s stock worth $24,988,000 after purchasing an additional 2,744 shares in the last quarter.

Rexford Industrial Realty traded up $0.53, reaching $31.53, during midday trading on Wednesday, MarketBeat Ratings reports. The company had a trading volume of 3,621,500 shares, compared to its average volume of 654,690. The firm has a market cap of $2.54 billion, a PE ratio of 32.84, a price-to-earnings-growth ratio of 4.80 and a beta of 0.73. Rexford Industrial Realty has a 12-month low of $26.32 and a 12-month high of $32.91. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, June 28th. Rexford Industrial Realty’s dividend payout ratio is presently 66.67%.

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 150 properties with approximately 18.5 million rentable square feet and manages an additional 19 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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