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

Rexford Industrial Realty (NYSE:REXR) had its price objective dropped by research analysts at Truist Financial from $45.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective would indicate a potential upside of 7.34% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. BNP Paribas Exane reaffirmed a “neutral” rating and set a $47.00 price objective on shares of Rexford Industrial Realty in a research report on Tuesday, October 21st. Cantor Fitzgerald started coverage on shares of Rexford Industrial Realty in a report on Wednesday, October 1st. They issued an “overweight” rating and a $50.00 price target on the stock. UBS Group set a $44.00 price objective on shares of Rexford Industrial Realty in a research note on Monday, November 10th. Wolfe Research cut shares of Rexford Industrial Realty from an “outperform” rating to a “peer perform” rating in a research report on Monday, October 20th. Finally, Robert W. Baird set a $41.00 price target on shares of Rexford Industrial Realty in a report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.00.

Rexford Industrial Realty Stock Down 0.1%

Rexford Industrial Realty stock opened at $40.99 on Tuesday. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 0.37. The firm has a market cap of $9.54 billion, a P/E ratio of 28.87, a P/E/G ratio of 2.58 and a beta of 1.22. The business has a fifty day moving average of $40.56 and a two-hundred day moving average of $40.26. Rexford Industrial Realty has a twelve month low of $29.68 and a twelve month high of $44.38.

Insider Activity at Rexford Industrial Realty

In other news, CEO Michael S. Frankel sold 18,750 shares of Rexford Industrial Realty stock in a transaction on Monday, December 8th. The shares were sold at an average price of $40.06, for a total transaction of $751,125.00. Following the completion of the sale, the chief executive officer directly owned 583,538 shares in the company, valued at approximately $23,376,532.28. The trade was a 3.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 57,118 shares of company stock worth $2,345,706 in the last three months. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several hedge funds have recently made changes to their positions in REXR. EverSource Wealth Advisors LLC lifted its position in Rexford Industrial Realty by 7.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 3,493 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 241 shares during the period. Legacy Wealth Asset Management LLC raised its stake in shares of Rexford Industrial Realty by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 14,771 shares of the real estate investment trust’s stock worth $607,000 after purchasing an additional 278 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Rexford Industrial Realty by 6.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,185 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 293 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Rexford Industrial Realty by 0.7% during the first quarter. Summit Investment Advisors Inc. now owns 44,771 shares of the real estate investment trust’s stock worth $1,753,000 after purchasing an additional 308 shares during the period. Finally, Mutual of America Capital Management LLC boosted its position in Rexford Industrial Realty by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 117,425 shares of the real estate investment trust’s stock valued at $4,177,000 after buying an additional 311 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Company Profile

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.