Rexford Industrial Realty Inc Plans Quarterly Dividend of $0.15 (REXR)
Rexford Industrial Realty Inc (NASDAQ:REXR) declared a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.145 per share on Monday, January 15th. This represents a $0.58 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, December 28th.
Rexford Industrial Realty (NASDAQ:REXR) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $41.77 million. Rexford Industrial Realty had a return on equity of 7.84% and a net margin of 53.98%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share.
REXR has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $34.00 price target (up from $32.00) on shares of Rexford Industrial Realty in a report on Thursday, August 24th. National Securities raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and raised their price target for the company from $23.00 to $32.00 in a report on Tuesday, August 29th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, August 22nd. BidaskClub cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Finally, FBR & Co raised their price target on Rexford Industrial Realty from $26.00 to $27.00 and gave the company a “mkt perform” rating in a report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.56.
About Rexford Industrial Realty
Rexford Industrial Realty, Inc is a self-administered and self-managed full-service real estate investment trust (REIT). The Company is focused on owning, operating and acquiring industrial properties in Southern California infill markets. Rexford Industrial Realty, L.P. is the operating partnership of the Company.
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