Rexford Industrial Realty, Inc. Plans Quarterly Dividend of $0.42 (NYSE:REXR)

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.417 per share by the real estate investment trust on Monday, July 15th. This represents a $1.67 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Friday, June 28th.

Rexford Industrial Realty has raised its dividend payment by an average of 20.9% annually over the last three years and has increased its dividend every year for the last 8 years. Rexford Industrial Realty has a payout ratio of 122.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Rexford Industrial Realty to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 56.9%.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR traded down $0.45 during trading on Friday, reaching $42.74. 2,694,335 shares of the company traded hands, compared to its average volume of 1,991,978. The stock has a market cap of $9.31 billion, a P/E ratio of 39.00, a PEG ratio of 1.85 and a beta of 0.86. The firm's fifty day simple moving average is $50.42 and its 200 day simple moving average is $50.63. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Rexford Industrial Realty has a 12-month low of $41.56 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same period last year, the business earned $0.52 earnings per share. The firm's revenue was up 15.0% on a year-over-year basis. As a group, research analysts anticipate that Rexford Industrial Realty will post 2.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on REXR. TheStreet upgraded shares of Rexford Industrial Realty from a "c+" rating to a "b-" rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. cut Rexford Industrial Realty from an "overweight" rating to a "neutral" rating and set a $55.00 target price on the stock. in a research report on Wednesday, February 7th. Robert W. Baird restated a "neutral" rating and issued a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Barclays assumed coverage on Rexford Industrial Realty in a report on Wednesday, March 27th. They issued an "underweight" rating and a $45.00 price objective on the stock. Finally, Mizuho restated a "neutral" rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Rexford Industrial Realty has a consensus rating of "Hold" and a consensus price target of $55.60.

Insiders Place Their Bets

In related news, General Counsel David E. Lanzer sold 18,113 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by insiders.

Institutional Trading of Rexford Industrial Realty

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Rexford Industrial Realty during the 2nd quarter worth approximately $28,000. Belpointe Asset Management LLC boosted its position in shares of Rexford Industrial Realty by 112.7% during the first quarter. Belpointe Asset Management LLC now owns 1,176 shares of the real estate investment trust's stock worth $70,000 after buying an additional 623 shares during the period. Ossiam grew its stake in shares of Rexford Industrial Realty by 21.3% in the first quarter. Ossiam now owns 2,096 shares of the real estate investment trust's stock valued at $125,000 after buying an additional 368 shares in the last quarter. First Manhattan Co. purchased a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at $151,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Rexford Industrial Realty by 5,510.9% in the 4th quarter. International Assets Investment Management LLC now owns 3,086 shares of the real estate investment trust's stock valued at $173,000 after buying an additional 3,031 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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.