Rexford Industrial Realty, Inc. (REXR) To Go Ex-Dividend on March 31st

Rexford Industrial Realty, Inc. (NYSE:REXR) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Monday, March 31st will be paid 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 dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Rexford Industrial Realty’s previous quarterly dividend of $0.42.

Rexford Industrial Realty has increased its dividend by an average of 29.3% annually over the last three years. Rexford Industrial Realty has a 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 Performance

Shares of NYSE REXR opened at $39.56 on Friday. 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 $8.80 billion, a PE ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 0.95. The stock has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $44.91. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 29.10% and a return on equity of 3.26%. On average, equities research analysts forecast that Rexford Industrial Realty will post 2.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REXR. StockNews.com lowered Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Mizuho dropped their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Scotiabank downgraded Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $55.00 to $48.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Rexford Industrial Realty in a report on Tuesday, January 14th. They set a “hold” rating and a $40.00 price target on the stock. Finally, Evercore ISI restated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to 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.