Rexford Industrial Realty (NYSE:REXR) Stock Gets Price Target Bump from Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its price target upped by Truist Financial from $39.00 to $42.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price target suggests a potential upside of 9.54% from the stock’s previous close.

A number of other analysts also recently weighed in on REXR. Weiss Ratings raised shares of Rexford Industrial Realty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Raymond James Financial upgraded shares of Rexford Industrial Realty from an “underperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Mizuho raised shares of Rexford Industrial Realty from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $41.00 in a research note on Tuesday, October 13th. Evercore reiterated an “outperform” rating on shares of Rexford Industrial Realty in a research report on Monday, July 27th. Finally, Cantor Fitzgerald dropped their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average target price of $41.33.

Rexford Industrial Realty Trading Down 0.6%

Shares of NYSE REXR traded down $0.25 during trading on Tuesday, reaching $38.34. The company had a trading volume of 407,247 shares, compared to its average volume of 2,621,721. The company’s fifty day moving average price is $37.44 and its 200-day moving average price is $36.45. Rexford Industrial Realty has a 12 month low of $32.14 and a 12 month high of $42.41. The stock has a market cap of $8.13 billion, a P/E ratio of -18.15 and a beta of 1.18. The company has a quick ratio of 1.70, a current ratio of 4.08 and a debt-to-equity ratio of 0.38.

Rexford Industrial Realty (NYSE:REXR) last issued its quarterly earnings results on Thursday, October 22nd. The real estate investment trust reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.53). Rexford Industrial Realty had a negative net margin of 47.15% and a negative return on equity of 5.72%. The company had revenue of $239.10 million during the quarter, compared to analyst estimates of $232.95 million. During the same period in the previous year, the company posted $0.60 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, research analysts expect that Rexford Industrial Realty will post 2.42 earnings per share for the current year.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC boosted its stake in Rexford Industrial Realty by 4.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 82,454 shares of the real estate investment trust’s stock worth $2,991,000 after acquiring an additional 3,765 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Rexford Industrial Realty during the 3rd quarter worth about $400,000. Provenance Wealth Advisors LLC bought a new position in shares of Rexford Industrial Realty during the 3rd quarter worth about $26,000. Vise Technologies Inc. bought a new position in shares of Rexford Industrial Realty during the 3rd quarter worth about $308,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Rexford Industrial Realty in the 3rd quarter valued at about $2,180,000. Institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc (NYSE: REXR) is a publicly traded real estate investment trust focused on owning, operating and acquiring industrial properties. Its portfolio primarily consists of infill logistics, warehouse, distribution and manufacturing facilities that support supply-chain and business operations.

The company concentrates exclusively on Southern California, including the Los Angeles, Orange County, San Diego and Inland Empire industrial markets. Rexford seeks to benefit from the region’s established transportation infrastructure, large consumer base and constrained supply of well-located industrial real estate.

Rexford Industrial Realty became a publicly traded company in 2013.