Rexford Industrial Realty Inc (NYSE:REXR) announced a quarterly dividend on Monday, July 29th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.185 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.74 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, September 27th.
Rexford Industrial Realty has increased its dividend payment by an average of 8.1% per year over the last three years and has raised its dividend every year for the last 3 years. Rexford Industrial Realty has a dividend payout ratio of 68.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Rexford Industrial Realty to earn $1.32 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 56.1%.
NYSE REXR traded down $0.05 during trading hours on Wednesday, hitting $43.90. The company had a trading volume of 511,561 shares, compared to its average volume of 719,302. Rexford Industrial Realty has a fifty-two week low of $28.17 and a fifty-two week high of $44.92. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 39.20, a P/E/G ratio of 5.06 and a beta of 0.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 7.17 and a quick ratio of 7.17. The firm’s 50 day moving average is $43.43 and its 200 day moving average is $39.72.
In other news, CEO Howard Schwimmer sold 23,600 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $41.70, for a total transaction of $984,120.00. Following the completion of the sale, the chief executive officer now directly owns 68,958 shares in the company, valued at $2,875,548.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.
Several analysts recently issued reports on the company. Citigroup increased their price target on Rexford Industrial Realty from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Monday. Zacks Investment Research downgraded Rexford Industrial Realty from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, Stifel Nicolaus raised their target price on Rexford Industrial Realty from $41.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Rexford Industrial Realty currently has an average rating of “Hold” and a consensus price target of $43.75.
About Rexford Industrial Realty
Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
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