Rexford Industrial Realty (NYSE:REXR) Given New $50.00 Price Target at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its target price cut by investment analysts at Truist Financial from $54.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 19.53% from the stock’s current price.

REXR has been the topic of several other research reports. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Wells Fargo & Company lowered 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 report on Wednesday, August 28th. Industrial Alliance Securities set a $55.00 price target on shares of Rexford Industrial Realty in a report on Friday, October 18th. Mizuho lowered their price target on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rexford Industrial Realty from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $41.83 on Tuesday. Rexford Industrial Realty has a 12 month low of $41.36 and a 12 month high of $58.02. 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 firm has a market capitalization of $9.30 billion, a PE ratio of 34.01, a P/E/G ratio of 1.98 and a beta of 0.94. The company’s 50 day simple moving average is $47.24 and its 200 day simple moving average is $47.07.

Rexford Industrial Realty (NYSE:REXR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $235.81 million. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. Rexford Industrial Realty’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 EPS. As a group, equities research analysts forecast 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 on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its position in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 349 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at about $26,000. UMB Bank n.a. raised its position in shares of Rexford Industrial Realty by 164.3% during the third quarter. UMB Bank n.a. now owns 719 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 447 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Rexford Industrial Realty during the second quarter valued at about $41,000. Finally, EverSource Wealth Advisors LLC raised its position in Rexford Industrial Realty by 1,252.2% in the first quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

About Rexford Industrial Realty

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.