Citigroup Inc. reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR – Get Rating) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,916 shares of the real estate investment trust’s stock after selling 136,510 shares during the quarter. Citigroup Inc. owned about 0.14% of Rexford Industrial Realty worth $17,107,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of REXR. Allspring Global Investments Holdings LLC purchased a new position in shares of Rexford Industrial Realty in the 4th quarter worth $108,822,000. Millennium Management LLC increased its holdings in Rexford Industrial Realty by 250.7% in the 3rd quarter. Millennium Management LLC now owns 1,109,430 shares of the real estate investment trust’s stock valued at $62,960,000 after purchasing an additional 793,068 shares in the last quarter. Waterfront Capital Partners LLC acquired a new stake in Rexford Industrial Realty in the 3rd quarter valued at $40,795,000. Balyasny Asset Management LLC increased its holdings in Rexford Industrial Realty by 118.5% in the 3rd quarter. Balyasny Asset Management LLC now owns 615,957 shares of the real estate investment trust’s stock valued at $34,956,000 after purchasing an additional 334,115 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Rexford Industrial Realty by 247.6% in the 3rd quarter. Renaissance Technologies LLC now owns 464,000 shares of the real estate investment trust’s stock valued at $26,332,000 after purchasing an additional 330,500 shares in the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Rexford Industrial Realty from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Saturday, May 7th. Robert W. Baird raised their target price on Rexford Industrial Realty from $86.00 to $103.00 in a research note on Thursday, April 21st. StockNews.com started coverage on Rexford Industrial Realty in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lifted their target price on Rexford Industrial Realty from $81.00 to $90.00 in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $85.20.
Rexford Industrial Realty (NYSE:REXR – Get Rating) last announced its quarterly earnings data on Tuesday, April 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.07. The firm had revenue of $140.80 million during the quarter, compared to analyst estimates of $141.60 million. Rexford Industrial Realty had a return on equity of 3.22% and a net margin of 29.60%. Rexford Industrial Realty’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, research analysts predict that Rexford Industrial Realty, Inc. will post 1.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 1.89%. The ex-dividend date is Wednesday, June 29th. Rexford Industrial Realty’s dividend payout ratio is currently 143.18%.
Rexford Industrial Realty Profile (Get Rating)
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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