Rexford Industrial Realty (NYSE:REXR) Price Target Cut to $53.00

Rexford Industrial Realty (NYSE:REXR) had its target price reduced by equities researchers at Truist Financial from $57.00 to $53.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price points to a potential upside of 25.47% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays initiated coverage on shares of Rexford Industrial Realty in a research note on Wednesday, March 27th. They issued an “underweight” rating and a $45.00 price target for the company. Robert W. Baird reissued a “neutral” rating and issued a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. Mizuho restated a “neutral” rating and issued a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. TheStreet upgraded shares of Rexford Industrial Realty from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. 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 on the stock. in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $55.60.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $42.24 on Tuesday. The firm has a 50 day simple moving average of $50.62 and a 200-day simple moving average of $50.68. Rexford Industrial Realty has a 1-year low of $41.56 and a 1-year high of $58.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 2.06 and a beta of 0.86.

Insiders Place Their Bets

In other Rexford Industrial Realty news, General Counsel David E. Lanzer sold 18,113 shares of the 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

A number of hedge funds have recently added to or reduced their stakes in REXR. Raymond James Financial Services Advisors Inc. lifted its holdings in Rexford Industrial Realty by 139.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,339 shares of the real estate investment trust’s stock worth $547,000 after buying an additional 4,277 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at $882,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Rexford Industrial Realty by 37.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,575 shares of the real estate investment trust’s stock valued at $1,087,000 after purchasing an additional 3,978 shares in the last quarter. Vanguard Group Inc. raised 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 in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Rexford Industrial Realty in the 1st quarter valued at $1,157,000. 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.