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

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

Several other analysts also recently weighed in on the stock. Barclays began coverage on shares of Rexford Industrial Realty in a research note 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 research note on Thursday, February 1st. Robert W. Baird reaffirmed a “neutral” rating and set a $61.00 price target (up previously from $53.00) on shares of Rexford Industrial Realty in a research note on Friday, January 5th. 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 research note on Wednesday, February 7th. Finally, Mizuho reissued a “neutral” rating and set a $52.00 price objective on shares of Rexford Industrial Realty in a report on Tuesday, April 2nd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.60.

Rexford Industrial Realty Stock Performance

Rexford Industrial Realty stock opened at $42.24 on Tuesday. The company has a 50 day moving average price of $50.62 and a 200-day moving average price of $50.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 1.35. Rexford Industrial Realty has a fifty-two week low of $41.56 and a fifty-two week high of $58.02. The company has a market capitalization of $9.09 billion, a PE ratio of 37.71, a P/E/G 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 Rexford Industrial Realty stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.69, for a total value of $954,373.97. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently bought and sold shares of REXR. Norges Bank purchased a new position in Rexford Industrial Realty in the fourth quarter worth $283,319,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Rexford Industrial Realty by 64.9% during the fourth 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 buying an additional 4,107,405 shares during the last quarter. Capital International Investors purchased a new stake in shares of Rexford Industrial Realty during the fourth quarter valued at $139,522,000. Vanguard Group Inc. grew its holdings in shares of Rexford Industrial Realty by 7.5% during the first 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 buying an additional 1,587,612 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Rexford Industrial Realty by 19.0% during the first quarter. State Street Corp now owns 8,626,789 shares of the real estate investment trust’s stock valued at $646,126,000 after buying an additional 1,375,680 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

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.