Rexford Industrial Realty, Inc. (NYSE:REXR) Announces Quarterly Dividend of $0.43

Rexford Industrial Realty, Inc. (NYSE:REXR) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Investors 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 4.35%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Rexford Industrial Realty’s previous quarterly dividend of $0.42.

Rexford Industrial Realty has increased its dividend payment by an average of 29.3% per year over the last three years. Rexford Industrial Realty has a payout ratio of 120.3% 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 $2.75 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 62.5%.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $39.56 on Friday. The company has a market capitalization of $8.80 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 0.95. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $53.88. The stock has a 50 day moving average of $39.73 and a two-hundred day moving average of $44.91.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. As a group, equities analysts expect that Rexford Industrial Realty will post 2.39 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on REXR. Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price for the company. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho reduced their price target on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays decreased their price objective on Rexford Industrial Realty from $44.00 to $41.00 and set an “underweight” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and an average target price of $49.42.

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.