Truist Financial Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $50.00

Rexford Industrial Realty (NYSE:REXR) had its target price cut by equities researchers at Truist Financial from $54.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential upside of 19.73% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company cut their price target on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Scotiabank downgraded 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. Evercore ISI reaffirmed an “outperform” rating on shares of Rexford Industrial Realty in a report on Friday, October 18th. Finally, Mizuho dropped their price target 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Stock Down 2.3 %

NYSE REXR traded down $1.00 during trading on Tuesday, hitting $41.76. The company’s stock had a trading volume of 982,943 shares, compared to its average volume of 1,719,884. 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 company has a market cap of $9.29 billion, a PE ratio of 33.95, a P/E/G ratio of 2.06 and a beta of 0.94. The business’s 50 day simple moving average is $47.76 and its 200-day simple moving average is $47.12. Rexford Industrial Realty has a fifty-two week low of $41.52 and a fifty-two week high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly 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 company had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. On average, equities analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Institutional investors have recently added to or reduced their stakes in the business. M&G Plc purchased a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at about $33,644,000. Magnetar Financial LLC purchased a new position in Rexford Industrial Realty during the first quarter valued at $1,671,000. Vanguard Group Inc. raised its stake in shares of Rexford Industrial Realty by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock worth $1,495,668,000 after purchasing an additional 753,098 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Rexford Industrial Realty by 23.8% in the first 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. Finally, Russell Investments Group Ltd. raised its stake in shares of Rexford Industrial Realty by 32.8% in the first quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust’s stock worth $8,040,000 after purchasing an additional 39,524 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

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.