Truist Financial Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $44.00

Rexford Industrial Realty (NYSE:REXR) had its target price reduced by Truist Financial from $45.00 to $44.00 in a report issued on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the company. Mizuho raised their price objective on Rexford Industrial Realty from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, December 4th. Barclays restated an “underweight” rating on shares of Rexford Industrial Realty in a report on Tuesday, January 13th. Wolfe Research lowered Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Robert W. Baird set a $41.00 price target on Rexford Industrial Realty in a research note on Thursday, January 8th. Finally, Cantor Fitzgerald began coverage on Rexford Industrial Realty in a research note on Wednesday, October 1st. They set an “overweight” rating and a $50.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

Rexford Industrial Realty Price Performance

Shares of Rexford Industrial Realty stock opened at $39.44 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95. Rexford Industrial Realty has a 52-week low of $29.68 and a 52-week high of $44.38. The company has a fifty day moving average of $40.43 and a 200-day moving average of $40.26. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 2.50 and a beta of 1.22.

Insider Transactions at Rexford Industrial Realty

In other Rexford Industrial Realty news, CEO Michael S. Frankel sold 20,318 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $41.61, for a total transaction of $845,431.98. Following the completion of the transaction, the chief executive officer owned 602,288 shares of the company’s stock, valued at $25,061,203.68. This represents a 3.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 57,118 shares of company stock worth $2,345,706. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Rexford Industrial Realty by 5.7% in the second quarter. Vanguard Group Inc. now owns 32,460,761 shares of the real estate investment trust’s stock worth $1,154,629,000 after acquiring an additional 1,749,685 shares during the period. State Street Corp raised its holdings in Rexford Industrial Realty by 4.9% in the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock worth $428,509,000 after purchasing an additional 556,810 shares in the last quarter. Soroban Capital Partners LP raised its holdings in Rexford Industrial Realty by 57.2% in the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock worth $326,925,000 after purchasing an additional 3,344,677 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Rexford Industrial Realty by 3.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,525,150 shares of the real estate investment trust’s stock worth $160,984,000 after purchasing an additional 167,800 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Rexford Industrial Realty by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,887,918 shares of the real estate investment trust’s stock valued at $159,836,000 after purchasing an additional 161,589 shares in the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

About Rexford Industrial Realty

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.