Rexford Industrial Realty, Inc. (REXR) To Go Ex-Dividend on June 28th

Rexford Industrial Realty, Inc. (NYSE:REXR) 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 3.75%. The ex-dividend date is Friday, June 28th.

Rexford Industrial Realty has increased its dividend payment by an average of 24.5% per year over the last three years. Rexford Industrial Realty has a payout ratio of 120.1% 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 $2.64 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 63.3%.

Rexford Industrial Realty Trading Down 1.1 %

Shares of REXR stock opened at $44.43 on Wednesday. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 40.76, a PEG ratio of 1.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.21 and a quick ratio of 3.21. The stock has a 50 day simple moving average of $44.36 and a 200-day simple moving average of $49.80.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. Rexford Industrial Realty had a return on equity of 3.04% and a net margin of 28.84%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. On average, equities research analysts expect that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REXR. Scotiabank cut their price objective on shares of Rexford Industrial Realty from $55.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Thursday, May 16th. Barclays lifted their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. Robert W. Baird cut their target price on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Wedbush started coverage on Rexford Industrial Realty in a research report on Monday, April 22nd. They issued a “neutral” rating and a $45.00 target price on the stock. Finally, Mizuho lowered their price target on Rexford Industrial Realty from $52.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Rexford Industrial Realty has an average rating of “Hold” and a consensus price target of $52.44.

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.