Citigroup Inc. Sells 4,360 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Citigroup Inc. decreased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 86,235 shares of the real estate investment trust’s stock after selling 4,360 shares during the quarter. Citigroup Inc.’s holdings in Rexford Industrial Realty were worth $4,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of REXR. DekaBank Deutsche Girozentrale raised its position in shares of Rexford Industrial Realty by 23.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 62,445 shares of the real estate investment trust’s stock worth $3,089,000 after purchasing an additional 12,006 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Rexford Industrial Realty by 1,252.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 864 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Rexford Industrial Realty by 169.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of Rexford Industrial Realty by 17.5% in the second quarter. Fulton Bank N.A. now owns 4,814 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 716 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Rexford Industrial Realty by 73.9% in the second quarter. CWM LLC now owns 1,485 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 631 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on REXR. Scotiabank cut shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $55.00 to $48.00 in a research note on Friday, October 25th. Mizuho cut their target price on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Industrial Alliance Securities set a $55.00 target price on shares of Rexford Industrial Realty in a research report on Friday, October 18th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Finally, Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Price Performance

Shares of REXR stock opened at $42.10 on Wednesday. The company has a market capitalization of $9.36 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. The firm has a fifty day simple moving average of $44.87 and a 200-day simple moving average of $46.85. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty, Inc. has a twelve month low of $41.16 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.4175 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 dividend on an annualized basis and a dividend yield of 3.97%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 135.77%.

Insiders Place Their Bets

In other news, CFO Laura E. Clark sold 14,185 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by corporate insiders.

Rexford Industrial Realty Company Profile

Rexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.