Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $50.00

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by equities researchers at Truist Financial from $53.00 to $50.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would suggest a potential upside of 12.61% from the stock’s previous close.

A number of other analysts also recently issued reports on REXR. Barclays raised their price objective on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Tuesday, April 23rd. JPMorgan Chase & Co. downgraded shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 price target for the company. in a report on Wednesday, February 7th. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They issued a “neutral” rating and a $45.00 price target for the company. Finally, Robert W. Baird dropped their price objective on Rexford Industrial Realty from $57.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $53.36.

Rexford Industrial Realty Trading Up 2.1 %

Rexford Industrial Realty stock traded up $0.92 during trading hours on Thursday, hitting $44.40. The stock had a trading volume of 1,705,347 shares, compared to its average volume of 2,686,672. The business’s 50 day simple moving average is $48.38 and its 200-day simple moving average is $50.22. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 40.73, a P/E/G ratio of 1.90 and a beta of 0.89. Rexford Industrial Realty has a one year low of $41.56 and a one year high of $58.02. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.41.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings data on Thursday, April 18th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $214.10 million during the quarter, compared to analyst estimates of $207.39 million. During the same period in the prior year, the firm earned $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 predict that Rexford Industrial Realty will post 2.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel David E. Lanzer sold 18,113 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in Rexford Industrial Realty in the fourth quarter worth approximately $41,000. Fifth Third Bancorp lifted its position in Rexford Industrial Realty by 58.2% during the third quarter. Fifth Third Bancorp now owns 1,117 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 411 shares in the last quarter. Quarry LP grew its holdings in Rexford Industrial Realty by 195.8% during the fourth quarter. Quarry LP now owns 1,118 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 740 shares during the period. Principal Securities Inc. purchased a new stake in Rexford Industrial Realty in the fourth quarter worth about $96,000. Finally, Ninepoint Partners LP bought a new position in shares of Rexford Industrial Realty in the third quarter worth about $108,000. Institutional investors 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.