Rexford Industrial Realty, Inc. (REXR) To Go Ex-Dividend on June 30th

Rexford Industrial Realty, Inc. (NYSE:REXR) announced a quarterly dividend on Thursday, April 17th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be given a dividend of 0.43 per share by the real estate investment trust on Tuesday, July 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Monday, June 30th.

Rexford Industrial Realty has increased its dividend by an average of 29.2% annually over the last three years. Rexford Industrial Realty has a payout ratio of 123.7% 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 Stock Performance

NYSE:REXR opened at $32.58 on Friday. The business has a 50 day moving average price of $38.20 and a 200-day moving average price of $40.57. Rexford Industrial Realty has a fifty-two week low of $29.68 and a fifty-two week high of $52.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $7.69 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.62 and a beta of 0.99.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. The company had revenue of $248.82 million for the quarter, compared to analysts’ expectations of $246.74 million. Equities research analysts predict that Rexford Industrial Realty will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on REXR. Robert W. Baird decreased their price objective on shares of Rexford Industrial Realty from $48.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays decreased their target price on shares of Rexford Industrial Realty from $41.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, March 25th. Industrial Alliance Securities set a $38.00 target price on Rexford Industrial Realty in a research report on Tuesday, March 25th. Scotiabank cut their target price on shares of Rexford Industrial Realty from $47.00 to $39.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. Finally, Mizuho cut their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $46.17.

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.