Truist Financial Has Lowered Expectations for Rexford Industrial Realty (NYSE:REXR) Stock Price

Rexford Industrial Realty (NYSE:REXR) had its price objective cut by stock analysts at Truist Financial from $54.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 19.53% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Bank of America lowered Rexford Industrial Realty from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $66.00 to $49.00 in a research note on Monday, October 21st. Industrial Alliance Securities set a $55.00 price target on Rexford Industrial Realty in a research note on Friday, October 18th. Evercore ISI reissued an “outperform” rating on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Mizuho reduced their price target on Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Finally, Wells Fargo & Company dropped their price objective on Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a report on Wednesday, August 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Stock Performance

NYSE REXR opened at $41.83 on Tuesday. The business’s 50 day moving average is $47.24 and its two-hundred day moving average is $47.07. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.98 and a beta of 0.94. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Rexford Industrial Realty has a 12-month low of $41.36 and a 12-month high of $58.02.

Rexford Industrial Realty (NYSE:REXR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.28). The firm had revenue of $241.84 million for the quarter, compared to analysts’ expectations of $235.81 million. Rexford Industrial Realty had a return on equity of 3.35% and a net margin of 30.40%. Rexford Industrial Realty’s revenue was up 17.7% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Research analysts expect that Rexford Industrial Realty will post 2.34 EPS for the current year.

Insiders Place Their Bets

In other Rexford Industrial Realty news, CFO Laura E. Clark sold 14,185 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total value of $711,377.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rexford Industrial Realty

Several large investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its stake in shares of Rexford Industrial Realty by 4.7% in the third quarter. Fulton Bank N.A. now owns 5,038 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 224 shares during the period. Inspire Investing LLC increased its stake in shares of Rexford Industrial Realty by 4.9% during the first quarter. Inspire Investing LLC now owns 7,126 shares of the real estate investment trust’s stock valued at $358,000 after acquiring an additional 331 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Rexford Industrial Realty by 2.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 14,641 shares of the real estate investment trust’s stock valued at $653,000 after acquiring an additional 337 shares during the period. Victory Capital Management Inc. increased its stake in shares of Rexford Industrial Realty by 0.8% during the second quarter. Victory Capital Management Inc. now owns 46,066 shares of the real estate investment trust’s stock valued at $2,054,000 after acquiring an additional 345 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Rexford Industrial Realty by 169.4% during the second quarter. Massmutual Trust Co. FSB ADV now owns 555 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 349 shares during the period. Institutional investors and hedge funds own 99.52% of the company’s stock.

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.