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

Rexford Industrial Realty, Inc. (NYSE:REXR - Get 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 annualized dividend and a yield of 4.26%. 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 raised its dividend by an average of 29.3% per year over the last three years. Rexford Industrial Realty has a dividend payout ratio of 120.3% 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 $2.75 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 62.5%.

Rexford Industrial Realty Stock Up 2.0 %

Shares of NYSE REXR traded up $0.80 on Monday, reaching $40.34. 2,871,158 shares of the company's stock traded hands, compared to its average volume of 2,125,671. The business's 50 day simple moving average is $39.68 and its two-hundred day simple moving average is $44.78. Rexford Industrial Realty has a 12 month low of $36.92 and a 12 month high of $53.88. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 2.28 and a beta of 0.95. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.31. Rexford Industrial Realty had a return on equity of 3.26% and a net margin of 29.10%. As a group, equities research analysts forecast that Rexford Industrial Realty will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on REXR. StockNews.com lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rexford Industrial Realty in a research note on Tuesday, January 14th. They issued a "hold" rating and a $40.00 target price on the stock. Mizuho reduced their price target 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. Scotiabank cut Rexford Industrial Realty from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $55.00 to $48.00 in a research report on Friday, October 25th. Finally, Bank of America lowered Rexford Industrial Realty from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.42.

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.