Truist Financial Lowers Rexford Industrial Realty (NYSE:REXR) Price Target to $53.00

Rexford Industrial Realty (NYSE:REXR) had its price objective lowered by stock analysts at Truist Financial from $57.00 to $53.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 17.59% from the company’s current price.

REXR has been the subject of several other reports. Robert W. Baird reiterated a “neutral” rating and set a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Mizuho reiterated a “neutral” rating and set a $52.00 target price on shares of Rexford Industrial Realty in a research note on Tuesday, April 2nd. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. cut shares of Rexford Industrial Realty from an “overweight” rating to a “neutral” rating and set a $55.00 target price for the company. in a research note on Wednesday, February 7th. Finally, Barclays assumed coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They set an “underweight” rating and a $45.00 target price for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Rexford Industrial Realty has a consensus rating of “Hold” and an average price target of $55.60.

Rexford Industrial Realty Price Performance

NYSE REXR opened at $45.07 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $50.97 and a 200 day simple moving average of $50.77. The company has a market cap of $9.69 billion, a P/E ratio of 40.24, a P/E/G ratio of 2.14 and a beta of 0.86. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02.

Insider Activity

In other 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 value of $954,373.97. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Rexford Industrial Realty by 4.5% during the 4th quarter. Vanguard Group Inc. now owns 28,981,854 shares of the real estate investment trust’s stock worth $1,625,882,000 after buying an additional 1,235,894 shares during the period. BlackRock Inc. raised its holdings in Rexford Industrial Realty by 1.7% during the 1st quarter. BlackRock Inc. now owns 24,373,926 shares of the real estate investment trust’s stock worth $1,453,905,000 after buying an additional 412,984 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Rexford Industrial Realty by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,735,524 shares of the real estate investment trust’s stock worth $882,765,000 after buying an additional 1,366,351 shares during the period. Principal Financial Group Inc. raised its holdings in Rexford Industrial Realty by 1.3% during the 4th quarter. Principal Financial Group Inc. now owns 13,760,865 shares of the real estate investment trust’s stock worth $771,985,000 after buying an additional 181,552 shares during the period. Finally, State Street Corp raised its holdings in Rexford Industrial Realty by 5.8% during the 1st quarter. State Street Corp now owns 10,520,590 shares of the real estate investment trust’s stock worth $631,483,000 after buying an additional 579,957 shares during the period. 99.52% of the stock is currently 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.