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

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

Other research analysts have also recently issued reports about the stock. Barclays initiated coverage on shares of Rexford Industrial Realty in a report on Wednesday, March 27th. They set an “underweight” rating and a $45.00 price target for the company. TheStreet raised shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report 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 price target for the company. in a report on Wednesday, February 7th. Mizuho reissued a “neutral” rating and set a $52.00 price target on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 target price (up from $53.00) on shares of Rexford Industrial Realty in a report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.60.

Rexford Industrial Realty Trading Down 3.4 %

NYSE REXR opened at $45.07 on Tuesday. The stock has a market capitalization 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 52-week low of $41.56 and a 52-week high of $58.02. The firm has a 50-day moving average price of $50.97 and a 200 day moving average price of $50.77. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.28.

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 document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Trading of Rexford Industrial Realty

A number of hedge funds have recently bought and sold shares of REXR. Norges Bank acquired a new stake in Rexford Industrial Realty during the fourth quarter worth approximately $283,319,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rexford Industrial Realty by 64.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,432,222 shares of the real estate investment trust’s stock valued at $570,016,000 after purchasing an additional 4,107,405 shares during the last quarter. Capital International Investors acquired a new position in shares of Rexford Industrial Realty in the 4th quarter valued at $139,522,000. Vanguard Group Inc. boosted its holdings in shares of Rexford Industrial Realty by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 22,698,814 shares of the real estate investment trust’s stock valued at $1,693,104,000 after purchasing an additional 1,587,612 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Rexford Industrial Realty by 19.0% in the 1st quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after purchasing an additional 1,375,680 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.