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

Key Points

• Rexford Industrial Realty, Inc. declared a quarterly dividend of $0.43 per share, which will be paid on January 15, 2025, with an annualized yield of 4.1%.
• The company has a high payout ratio of 155.0%, indicating it relies on its balance sheet to cover dividend payments, but analysts project a future payout ratio of 64.2% as earnings improve.
• Rexford Industrial Realty's shares recently saw a 3.0% increase, with the stock trading around $42.15 and a market capitalization of approximately $9.98 billion.

Rexford Industrial Realty, Inc. (NYSE:REXR - Get Free Report) declared a quarterly dividend on Wednesday, October 15th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.43 per share by the real estate investment trust on Thursday, January 15th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, December 31st.

Rexford Industrial Realty has a payout ratio of 155.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Up 3.0%

Shares of REXR opened at $42.15 on Thursday. The stock has a market capitalization of $9.98 billion, a PE ratio of 31.22, a P/E/G ratio of 4.54 and a beta of 1.13. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $49.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.59 and a current ratio of 5.59. The company's 50-day simple moving average is $40.86 and its 200-day simple moving average is $37.32.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $246.76 million for the quarter, compared to analysts' expectations of $253.46 million. Rexford Industrial Realty had a net margin of 32.04% and a return on equity of 3.62%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Rexford Industrial Realty has set its FY 2025 guidance at 2.390-2.410 EPS. Analysts forecast that Rexford Industrial Realty will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 26,449 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $36.87, for a total value of $975,174.63. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Rexford Industrial Realty by 403.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 553 shares during the last quarter. Bessemer Group Inc. grew its position in Rexford Industrial Realty by 118.4% in the 1st quarter. Bessemer Group Inc. now owns 747 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 405 shares during the last quarter. Private Trust Co. NA grew its position in Rexford Industrial Realty by 95.6% in the 1st quarter. Private Trust Co. NA now owns 757 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 370 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Rexford Industrial Realty by 280.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,085 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 800 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Rexford Industrial Realty by 174.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,228 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 780 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

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.

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