Rexford Industrial Realty Inc (REXR) to Issue Dividend Increase – $0.16 Per Share

Rexford Industrial Realty Inc (NYSE:REXR) declared a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Investors of record on Friday, March 30th will be paid a dividend of 0.16 per share by the real estate investment trust on Monday, April 16th. This represents a $0.64 annualized dividend and a yield of 2.31%. The ex-dividend date is Wednesday, March 28th. This is an increase from Rexford Industrial Realty’s previous quarterly dividend of $0.15.

Rexford Industrial Realty has a dividend payout ratio of 60.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rexford Industrial Realty to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 53.7%.

Shares of Rexford Industrial Realty (NYSE:REXR) traded up $0.02 during midday trading on Wednesday, reaching $27.69. 1,027,700 shares of the company traded hands, compared to its average volume of 455,684. The firm has a market cap of $2,140.66, a P/E ratio of 63.91, a price-to-earnings-growth ratio of 3.69 and a beta of 0.73. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.57. Rexford Industrial Realty has a 1-year low of $21.34 and a 1-year high of $31.71.

Several research analysts recently issued reports on REXR shares. B. Riley reiterated a “neutral” rating on shares of Rexford Industrial Realty in a research report on Tuesday, November 7th. JPMorgan Chase & Co. cut Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 price objective for the company. in a report on Friday, December 15th. National Securities reissued a “buy” rating and set a $34.00 price objective on shares of Rexford Industrial Realty in a report on Monday, November 27th. Zacks Investment Research raised Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, January 4th. Finally, BidaskClub cut Rexford Industrial Realty from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.78.

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Rexford Industrial Realty Company Profile

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.

Dividend History for Rexford Industrial Realty (NYSE:REXR)

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