Truist Financial Cuts Rexford Industrial Realty (NYSE:REXR) Price Target to $50.00

Rexford Industrial Realty (NYSE:REXR) had its target price trimmed by Truist Financial from $54.00 to $50.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Rexford Industrial Realty from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, August 28th. Bank of America downgraded Rexford Industrial Realty from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $66.00 to $49.00 in a report on Monday, October 21st. Industrial Alliance Securities set a $55.00 target price on Rexford Industrial Realty in a report on Friday, October 18th. StockNews.com cut Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. Finally, Mizuho decreased their price objective on shares of Rexford Industrial Realty from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.09.

Rexford Industrial Realty Trading Down 0.3 %

REXR stock opened at $41.74 on Tuesday. The business has a fifty day moving average of $47.24 and a 200-day moving average of $47.07. The company has a market cap of $9.28 billion, a P/E ratio of 33.93, a PEG ratio of 2.00 and a beta of 0.94. Rexford Industrial Realty has a twelve month low of $41.16 and a twelve month high of $58.02. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

Rexford Industrial Realty (NYSE:REXR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.28). Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. The business had revenue of $241.84 million for the quarter, compared to analyst estimates of $235.81 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities research analysts expect that Rexford Industrial Realty will post 2.34 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.4175 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.67 annualized dividend and a yield of 4.00%. Rexford Industrial Realty’s dividend payout ratio is currently 135.77%.

Insider Buying and Selling

In related news, CFO Laura E. Clark sold 14,185 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $50.15, for a total transaction of $711,377.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Rexford Industrial Realty

Several hedge funds have recently bought and sold shares of REXR. SG Americas Securities LLC boosted its holdings in shares of Rexford Industrial Realty by 2.9% during the first quarter. SG Americas Securities LLC now owns 31,482 shares of the real estate investment trust’s stock worth $1,584,000 after acquiring an additional 895 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Rexford Industrial Realty in the 1st quarter valued at $813,000. Swiss National Bank increased its position in Rexford Industrial Realty by 2.6% during the 1st quarter. Swiss National Bank now owns 416,816 shares of the real estate investment trust’s stock worth $20,966,000 after buying an additional 10,500 shares during the period. Sei Investments Co. increased its position in Rexford Industrial Realty by 12.0% during the 1st quarter. Sei Investments Co. now owns 574,773 shares of the real estate investment trust’s stock worth $28,911,000 after buying an additional 61,716 shares during the period. Finally, Inspire Investing LLC lifted its holdings 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 worth $358,000 after buying an additional 331 shares in the last quarter. 99.52% of the stock is currently owned by institutional investors and hedge funds.

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.