Rexford Industrial Realty Inc (REXR) to Issue $0.15 Quarterly Dividend

Rexford Industrial Realty Inc (NYSE:REXR) declared a quarterly dividend on Tuesday, October 31st, Zacks reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.145 per share by the real estate investment trust on Monday, January 15th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, December 28th.

Rexford Industrial Realty has a payout ratio of 60.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rexford Industrial Realty to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 53.7%.

Rexford Industrial Realty (NYSE REXR) traded up $0.11 during trading on Friday, hitting $29.21. 350,391 shares of the stock were exchanged, compared to its average volume of 586,613. The company has a market cap of $2,266.86, a P/E ratio of 67.93, a P/E/G ratio of 3.95 and a beta of 0.77. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.57. Rexford Industrial Realty has a fifty-two week low of $21.34 and a fifty-two week high of $31.71.

Rexford Industrial Realty (NYSE:REXR) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $43.30 million for the quarter, compared to the consensus estimate of $41.77 million. Rexford Industrial Realty had a net margin of 23.50% and a return on equity of 3.39%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. equities research analysts anticipate that Rexford Industrial Realty will post 0.96 EPS for the current year.

A number of equities analysts have commented on the stock. BidaskClub lowered shares of Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Stifel Nicolaus restated a “buy” rating and issued a $33.00 price target (up from $30.00) on shares of Rexford Industrial Realty in a research report on Thursday, September 14th. Citigroup boosted their price target on shares of Rexford Industrial Realty from $28.50 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, October 4th. Finally, J P Morgan Chase & Co lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $30.78.

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About Rexford Industrial Realty

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.

Dividend History for Rexford Industrial Realty (NYSE:REXR)

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