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

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) announced a quarterly dividend on Thursday, July 17th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be given a dividend of 0.43 per share by the real estate investment trust on Wednesday, October 15th. This represents a $1.72 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Tuesday, September 30th.

Rexford Industrial Realty has a payout ratio of 155.0% 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 $2.68 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 Trading Up 1.4%

REXR traded up $0.53 during midday trading on Monday, hitting $37.04. 1,374,683 shares of the company were exchanged, compared to its average volume of 2,232,231. The firm has a market capitalization of $8.77 billion, a P/E ratio of 27.47, a P/E/G ratio of 3.35 and a beta of 1.13. Rexford Industrial Realty has a 1-year low of $29.68 and a 1-year high of $52.61. The firm's 50 day moving average price is $36.10 and its 200-day moving average price is $37.26. The company has a quick ratio of 4.90, a current ratio of 5.59 and a debt-to-equity ratio of 0.37.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.01. The company had revenue of $241.57 million for the quarter, compared to analysts' expectations of $251.72 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business's revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.60 EPS. As a group, equities analysts forecast that Rexford Industrial Realty will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Rexford Industrial Realty by 3.5% in the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust's stock worth $9,849,000 after purchasing an additional 8,506 shares during the period. AQR Capital Management LLC increased its stake in shares of Rexford Industrial Realty by 309.8% in the first quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust's stock valued at $4,628,000 after buying an additional 89,390 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Rexford Industrial Realty by 41.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock worth $70,931,000 after purchasing an additional 526,877 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays decreased their price objective on shares of Rexford Industrial Realty from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI downgraded shares of Rexford Industrial Realty from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $39.00 to $38.00 in a research report on Friday. Scotiabank reduced their price target on shares of Rexford Industrial Realty from $39.00 to $37.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $45.00 to $39.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Rexford Industrial Realty from $44.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.82.

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.