Rexford Industrial Realty, Inc. (NYSE:REXR) Declares Quarterly Dividend of $0.42

Rexford Industrial Realty, Inc. (NYSE:REXR) declared 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 3.86%. The ex-dividend date is Friday, June 28th.

Rexford Industrial Realty has increased its dividend by an average of 20.9% per year over the last three years and has raised its dividend every year for the last 8 years. Rexford Industrial Realty has a dividend payout ratio of 122.6% 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 $2.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 56.9%.

Rexford Industrial Realty Stock Up 2.2 %

Rexford Industrial Realty stock opened at $43.19 on Friday. The firm’s 50 day moving average price is $50.62 and its two-hundred day moving average price is $50.68. The firm has a market cap of $9.41 billion, a PE ratio of 39.62, a P/E/G ratio of 1.85 and a beta of 0.86. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings results 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 business had revenue of $214.10 million for the quarter, compared to the consensus estimate of $207.39 million. Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.10%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. On average, research analysts predict that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wetherby Asset Management Inc. grew its stake in shares of Rexford Industrial Realty by 2.9% during the first quarter. Wetherby Asset Management Inc. now owns 6,932 shares of the real estate investment trust’s stock worth $517,000 after purchasing an additional 196 shares during the period. Eqis Capital Management Inc. grew its position in shares of Rexford Industrial Realty by 3.2% during the 4th quarter. Eqis Capital Management Inc. now owns 6,604 shares of the real estate investment trust’s stock worth $361,000 after buying an additional 202 shares during the period. Corient Private Wealth LLC increased its stake in shares of Rexford Industrial Realty by 3.5% in the 4th quarter. Corient Private Wealth LLC now owns 6,616 shares of the real estate investment trust’s stock valued at $371,000 after acquiring an additional 224 shares during the last quarter. IFP Advisors Inc raised its position in shares of Rexford Industrial Realty by 7.0% in the 2nd quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 290 shares during the period. Finally, Jane Street Group LLC boosted its stake in Rexford Industrial Realty by 5.2% during the 2nd quarter. Jane Street Group LLC now owns 5,885 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 290 shares during the last quarter. Institutional investors own 99.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TheStreet raised Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research report on Thursday, February 1st. Mizuho reaffirmed a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research report on Tuesday, April 2nd. Barclays assumed coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective on the stock. Truist Financial reduced their target price on shares of Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.60.

About Rexford Industrial Realty

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.