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

Rexford Industrial Realty, Inc. (NYSE:REXR) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors 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 raised its dividend payment by an average of 20.9% annually 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. Research 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 Performance

NYSE REXR opened at $43.19 on Friday. The business’s 50-day moving average price is $50.62 and its 200 day moving average price is $50.68. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The company has a market capitalization of $9.41 billion, a PE ratio of 39.62, a price-to-earnings-growth ratio of 1.85 and a beta of 0.86. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Rexford Industrial Realty (NYSE:REXR) last released its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.30). The firm had revenue of $214.10 million during the quarter, compared to analysts’ expectations of $207.39 million. Rexford Industrial Realty had a return on equity of 3.10% and a net margin of 28.84%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 earnings per share. On average, research analysts predict that Rexford Industrial Realty will post 2.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial cut their price objective on Rexford Industrial Realty from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays initiated coverage on Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price objective for the company. Mizuho restated a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. TheStreet upgraded Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. Finally, Robert W. Baird restated a “neutral” rating and set a $61.00 price objective (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $55.60.

Insider Transactions at Rexford Industrial Realty

In other news, General Counsel David E. Lanzer sold 18,113 shares of Rexford Industrial Realty stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.69, for a total value of $954,373.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. boosted its position in Rexford Industrial Realty by 2.9% during the 1st quarter. Wetherby Asset Management Inc. now owns 6,932 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 196 shares during the period. Eqis Capital Management Inc. boosted its position in 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 valued at $361,000 after purchasing an additional 202 shares during the period. Corient Private Wealth LLC boosted its position in Rexford Industrial Realty by 3.5% during 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 purchasing an additional 224 shares during the period. IFP Advisors Inc boosted its position in Rexford Industrial Realty by 7.0% during the 2nd quarter. IFP Advisors Inc now owns 4,458 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 290 shares during the period. Finally, Jane Street Group LLC boosted its position 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 valued at $339,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.