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

Rexford Industrial Realty (NYSE:REXR) had its price objective dropped by stock analysts at Truist Financial from $53.00 to $50.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price suggests a potential upside of 17.48% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird dropped their price target on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wedbush initiated coverage on Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 price target for the company. Barclays raised their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Tuesday, April 23rd. Mizuho restated a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price objective for the company. in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $53.36.

Rexford Industrial Realty Price Performance

Shares of NYSE:REXR traded up $0.17 during trading on Thursday, reaching $42.56. The company had a trading volume of 100,144 shares, compared to its average volume of 1,950,936. Rexford Industrial Realty has a twelve month low of $41.56 and a twelve month high of $58.02. The firm has a market capitalization of $9.27 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. The firm’s fifty day moving average is $48.70 and its 200 day moving average is $50.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.21 and a current ratio of 3.21.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.30). Rexford Industrial Realty had a net margin of 28.84% and a return on equity of 3.04%. The firm had revenue of $214.10 million for the quarter, compared to analyst estimates of $207.39 million. During the same quarter last year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Rexford Industrial Realty will post 2.34 EPS for the current year.

Insider Activity at Rexford Industrial Realty

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.69, for a total transaction of $954,373.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently made changes to their positions in REXR. Envestnet Asset Management Inc. grew its stake in Rexford Industrial Realty by 139.5% during the third quarter. Envestnet Asset Management Inc. now owns 232,848 shares of the real estate investment trust’s stock worth $11,491,000 after buying an additional 135,627 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Rexford Industrial Realty by 12.8% in the fourth quarter. Pacer Advisors Inc. now owns 207,609 shares of the real estate investment trust’s stock worth $11,647,000 after purchasing an additional 23,510 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Rexford Industrial Realty during the fourth quarter worth $3,327,000. Daiwa Securities Group Inc. increased its stake in shares of Rexford Industrial Realty by 1.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 79,851 shares of the real estate investment trust’s stock valued at $4,480,000 after buying an additional 1,171 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Rexford Industrial Realty by 6.8% in the third quarter. The Manufacturers Life Insurance Company now owns 314,170 shares of the real estate investment trust’s stock valued at $15,506,000 after buying an additional 19,981 shares during 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.