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

Citigroup Inc. decreased its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,235 shares of the real estate investment trust’s stock after selling 4,360 shares during the period. Citigroup Inc.’s holdings in Rexford Industrial Realty were worth $4,338,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in REXR. Massmutual Trust Co. FSB ADV raised its position in Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Rexford Industrial Realty during the 2nd quarter valued at about $26,000. UMB Bank n.a. boosted its position in Rexford Industrial Realty by 164.3% during the 3rd quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 447 shares in the last quarter. Headlands Technologies LLC bought a new stake in Rexford Industrial Realty during the 2nd quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC boosted its position 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 valued at $47,000 after acquiring an additional 864 shares in the last quarter. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Trading Down 0.1 %

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

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 the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. The company’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. Sell-side analysts forecast that Rexford Industrial Realty, Inc. will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.4175 dividend. This represents a $1.67 annualized dividend and a yield of 3.97%. The ex-dividend date is Tuesday, December 31st. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Buying and Selling at Rexford Industrial Realty

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Mizuho dropped their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Scotiabank lowered shares of Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a report on Friday, October 18th. Truist Financial decreased their price objective on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com lowered shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $51.09.

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.