Rexford Industrial Realty Inc (NYSE:REXR) announced a quarterly dividend on Wednesday, February 14th, Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend 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 payout ratio of 60.4% indicating that its dividend is sufficiently covered by earnings. 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%.

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

REXR has been the subject of a number of research reports. National Securities reissued a “buy” rating and set a $34.00 target price on shares of Rexford Industrial Realty in a research note on Monday, November 27th. BidaskClub raised Rexford Industrial Realty from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Zacks Investment Research cut Rexford Industrial Realty from a “buy” rating to a “sell” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. cut Rexford Industrial Realty from a “neutral” rating to an “underweight” rating and set a $29.00 target price for the company. in a research note on Friday, December 15th. Finally, Capital One Financial cut Rexford Industrial Realty from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.78.

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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.

Dividend History for Rexford Industrial Realty (NYSE:REXR)

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