Rexford Industrial Realty, Inc. (REXR) to Issue Quarterly Dividend of $0.43 on April 15th

Rexford Industrial Realty, Inc. (NYSE:REXR) announced a quarterly dividend on Wednesday, February 5th, Wall Street Journal reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.43 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.72 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Monday, March 31st. This is a 3.0% increase from Rexford Industrial Realty’s previous quarterly dividend of $0.42.

Rexford Industrial Realty has increased its dividend payment by an average of 29.2% per year over the last three years. Rexford Industrial Realty has a dividend payout ratio of 123.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Rexford Industrial Realty to earn $2.68 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 64.2%.

Rexford Industrial Realty Stock Down 1.4 %

NYSE REXR opened at $39.37 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.62 and a beta of 0.98. The company has a 50 day moving average of $40.35 and a 200-day moving average of $42.48. Rexford Industrial Realty has a 1-year low of $36.92 and a 1-year high of $52.61.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. On average, equities research analysts expect that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating on the stock in a research report on Tuesday. Industrial Alliance Securities set a $38.00 price target on Rexford Industrial Realty in a research note on Tuesday. Scotiabank dropped their price objective on Rexford Industrial Realty from $48.00 to $47.00 and set a “sector perform” rating for the company in a research report on Friday, February 28th. Robert W. Baird decreased their target price on Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Mizuho dropped their target price on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $46.83.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.