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

Rexford Industrial Realty (NYSE:REXR) had its price objective dropped by analysts at Truist Financial from $45.00 to $44.00 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 objective points to a potential upside of 10.85% from the stock’s current price.

Several other research firms have also commented on REXR. Industrial Alliance Securities set a $42.00 price objective on Rexford Industrial Realty in a research report on Wednesday, November 19th. Scotiabank increased their target price on Rexford Industrial Realty from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Monday, November 10th. Robert W. Baird set a $41.00 price target on Rexford Industrial Realty in a research report on Thursday, January 8th. Mizuho upped their price target on Rexford Industrial Realty from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Finally, Wall Street Zen downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $43.00.

Rexford Industrial Realty Price Performance

Rexford Industrial Realty stock opened at $39.69 on Tuesday. The firm has a fifty day moving average of $40.46 and a 200-day moving average of $40.27. Rexford Industrial Realty has a 52-week low of $29.68 and a 52-week high of $44.38. 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 capitalization of $9.24 billion, a P/E ratio of 27.95, a PEG 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 18,750 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $40.06, for a total value of $751,125.00. Following the transaction, the chief executive officer directly owned 583,538 shares of the company’s stock, valued at $23,376,532.28. This represents a 3.11% decrease in their position. The sale 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.

Institutional Trading of Rexford Industrial Realty

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in Rexford Industrial Realty by 3.5% in the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock valued at $9,849,000 after acquiring an additional 8,506 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Rexford Industrial Realty by 309.8% in the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock worth $4,628,000 after purchasing an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Rexford Industrial Realty by 41.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock valued at $70,931,000 after purchasing an additional 526,877 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Rexford Industrial Realty by 2.7% during the first quarter. Voya Investment Management LLC now owns 27,489 shares of the real estate investment trust’s stock worth $1,076,000 after purchasing an additional 718 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Rexford Industrial Realty by 202.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 62,574 shares of the real estate investment trust’s stock worth $2,323,000 after purchasing an additional 41,907 shares during the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.