Citigroup Inc. Sells 43,810 Shares of Rexford Industrial Realty, Inc. (NYSE:REXR)

Citigroup Inc. lowered its holdings in Rexford Industrial Realty, Inc. (NYSE:REXRGet Rating) by 20.8% in the first quarter, HoldingsChannel.com reports. The firm owned 167,106 shares of the real estate investment trust’s stock after selling 43,810 shares during the quarter. Citigroup Inc.’s holdings in Rexford Industrial Realty were worth $12,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of REXR. Advisor Group Holdings Inc. raised its position in shares of Rexford Industrial Realty by 3.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,392 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 150 shares in the last quarter. First Trust Advisors LP raised its position in shares of Rexford Industrial Realty by 29.6% in the 4th quarter. First Trust Advisors LP now owns 72,566 shares of the real estate investment trust’s stock valued at $5,885,000 after buying an additional 16,590 shares in the last quarter. Raymond James & Associates raised its position in shares of Rexford Industrial Realty by 736.3% in the 4th quarter. Raymond James & Associates now owns 32,634 shares of the real estate investment trust’s stock valued at $2,647,000 after buying an additional 28,732 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at approximately $248,000. Finally, First Horizon Advisors Inc. raised its position in shares of Rexford Industrial Realty by 28.7% in the 4th quarter. First Horizon Advisors Inc. now owns 727 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 162 shares in the last quarter. Institutional investors own 99.50% of the company’s stock.

Rexford Industrial Realty Price Performance

REXR stock opened at $61.19 on Monday. The company has a 50 day simple moving average of $62.70 and a 200 day simple moving average of $67.54. The stock has a market cap of $10.47 billion, a price-to-earnings ratio of 64.41, a P/E/G ratio of 2.80 and a beta of 0.77. Rexford Industrial Realty, Inc. has a 1 year low of $55.84 and a 1 year high of $84.68. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.55 and a quick ratio of 0.55.

Rexford Industrial Realty (NYSE:REXRGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.02). Rexford Industrial Realty had a net margin of 29.79% and a return on equity of 3.17%. The business had revenue of $149.12 million during the quarter, compared to analyst estimates of $149.21 million. During the same quarter last year, the company posted $0.39 earnings per share. The company’s revenue was up 42.9% compared to the same quarter last year. Research analysts anticipate that Rexford Industrial Realty, Inc. will post 1.93 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Friday, September 30th will be given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, September 29th. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently 132.63%.

Insider Buying and Selling at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Howard Schwimmer sold 16,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $59.90, for a total value of $988,350.00. Following the completion of the transaction, the chief executive officer now directly owns 84,472 shares in the company, valued at approximately $5,059,872.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 48,252 shares of company stock worth $3,009,629. 1.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on REXR. Jefferies Financial Group dropped their target price on shares of Rexford Industrial Realty from $89.00 to $73.00 in a research report on Thursday, June 30th. StockNews.com cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Robert W. Baird upped their price objective on shares of Rexford Industrial Realty from $87.00 to $89.00 in a research report on Friday, July 22nd. Wolfe Research began coverage on shares of Rexford Industrial Realty in a research report on Tuesday, June 21st. They set a “market perform” rating and a $63.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on shares of Rexford Industrial Realty from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $77.80.

Rexford Industrial Realty Profile

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Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

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Institutional Ownership by Quarter for Rexford Industrial Realty (NYSE:REXR)

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