Rexford Industrial Realty, Inc. (NYSE:REXR) Increases Dividend to $0.43 Per Share

Rexford Industrial Realty, Inc. (NYSE:REXRGet Free Report) 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 4.24%. The ex-dividend date 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 by an average of 29.3% annually over the last three years. Rexford Industrial Realty has a payout ratio of 116.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Rexford Industrial Realty to earn $2.47 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 67.6%.

Rexford Industrial Realty Price Performance

NYSE REXR traded down $0.22 during trading hours on Thursday, reaching $40.55. 4,416,170 shares of the company’s stock were exchanged, compared to its average volume of 1,979,782. The stock has a market cap of $9.02 billion, a PE ratio of 32.97, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. Rexford Industrial Realty has a one year low of $36.92 and a one year high of $53.88. The firm has a fifty day moving average of $39.77 and a 200-day moving average of $44.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXRGet Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. On average, equities research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $40.00 price target on the stock. StockNews.com downgraded Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Truist Financial cut their price target on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $49.42.

Check Out Our Latest Research Report on Rexford Industrial Realty

Rexford Industrial Realty Company Profile

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Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.

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Dividend History for Rexford Industrial Realty (NYSE:REXR)

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