Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $50.00 by Analysts at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its price target decreased by equities research analysts at Truist Financial from $54.00 to $50.00 in a research note issued on Tuesday,Benzinga reports. The firm presently 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 stock’s previous close.

REXR has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Bank of America downgraded shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $49.00 in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Evercore ISI reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Friday, October 18th. Finally, Mizuho reduced 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 given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.09.

Rexford Industrial Realty Stock Performance

Shares of REXR stock traded down $1.00 on Tuesday, hitting $41.76. The company had a trading volume of 982,943 shares, compared to its average volume of 1,719,884. The firm has a market cap of $9.29 billion, a P/E ratio of 33.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.94. The company has a 50-day moving average price of $47.76 and a 200-day moving average price of $47.12. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a twelve month low of $41.52 and a twelve month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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 was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.56 EPS. As a group, equities research analysts predict that Rexford Industrial Realty will post 2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of Rexford Industrial Realty stock in a transaction on 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 document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

A number of hedge funds have recently made changes to their positions in REXR. M&G Plc bought a new stake in shares of Rexford Industrial Realty in the 1st quarter worth about $33,644,000. Magnetar Financial LLC bought a new stake in shares of Rexford Industrial Realty during the 1st quarter worth $1,671,000. Vanguard Group Inc. boosted its holdings in Rexford Industrial Realty by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 29,734,952 shares of the real estate investment trust’s stock valued at $1,495,668,000 after purchasing an additional 753,098 shares during the period. DekaBank Deutsche Girozentrale increased 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Rexford Industrial Realty by 32.8% in the 1st quarter. Russell Investments Group Ltd. now owns 159,845 shares of the real estate investment trust’s stock valued at $8,040,000 after acquiring an additional 39,524 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.