Brokerages Anticipate Rexford Industrial Realty Inc (REXR) Will Post Quarterly Sales of $42.95 Million
Equities analysts expect that Rexford Industrial Realty Inc (NASDAQ:REXR) will post $42.95 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 $39.62 million and the highest is $47.10 million. Rexford Industrial Realty posted sales of $34.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.7%. The business is expected to report its next earnings results on Thursday, February 15th.
On average, analysts expect that Rexford Industrial Realty will report full-year sales of $42.95 million for the current year, with estimates ranging from $149.19 million to $161.01 million. For the next financial year, analysts forecast that the business will report sales of $185.78 million per share, with estimates ranging from $161.07 million to $212.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Rexford Industrial Realty.
Rexford Industrial Realty (NASDAQ:REXR) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $41.77 million. Rexford Industrial Realty had a net margin of 53.98% and a return on equity of 7.84%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share.
Several equities research analysts have commented on REXR shares. J P Morgan Chase & Co lowered Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $29.00 price objective on the stock. in a research report on Tuesday, September 26th. BidaskClub upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Stifel Nicolaus restated a “buy” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, September 14th. Zacks Investment Research lowered Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $34.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, September 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Rexford Industrial Realty has an average rating of “Hold” and a consensus target price of $30.56.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Rexford Industrial Realty by 16.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,200,033 shares of the company’s stock valued at $252,449,000 after purchasing an additional 1,282,548 shares in the last quarter. BlackRock Inc. lifted its holdings in Rexford Industrial Realty by 0.6% in the 2nd quarter. BlackRock Inc. now owns 5,869,600 shares of the company’s stock valued at $161,061,000 after purchasing an additional 37,038 shares in the last quarter. AEW Capital Management L P lifted its holdings in Rexford Industrial Realty by 1.0% in the 2nd quarter. AEW Capital Management L P now owns 4,078,857 shares of the company’s stock valued at $111,924,000 after purchasing an additional 41,557 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Rexford Industrial Realty by 93.4% in the 3rd quarter. Principal Financial Group Inc. now owns 3,235,956 shares of the company’s stock valued at $92,613,000 after purchasing an additional 1,562,996 shares in the last quarter. Finally, State Street Corp lifted its holdings in Rexford Industrial Realty by 1.2% in the 2nd quarter. State Street Corp now owns 2,233,196 shares of the company’s stock valued at $61,276,000 after purchasing an additional 25,694 shares in the last quarter.
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Rexford Industrial Realty (REXR) opened at $30.16 on Friday.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a dividend of $0.145 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.92%.
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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