Rexford Industrial Realty (NYSE:REXR) PT Raised to $54.00 at Truist Financial

Rexford Industrial Realty (NYSE:REXR) had its target price boosted by equities research analysts at Truist Financial from $50.00 to $54.00 in a report released 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 7.76% from the company’s previous close.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Rexford Industrial Realty from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Wedbush began coverage on shares of Rexford Industrial Realty in a research note on Monday, April 22nd. They set a “neutral” rating and a $45.00 target price on the stock. Barclays lifted their price target on shares of Rexford Industrial Realty from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Rexford Industrial Realty from a “sell” rating to a “hold” rating in a research report on Monday, July 22nd. Finally, Evercore ISI assumed coverage on shares of Rexford Industrial Realty in a research report on Wednesday, July 10th. They issued an “outperform” rating and a $54.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $52.70.

Rexford Industrial Realty Stock Performance

Shares of Rexford Industrial Realty stock opened at $50.11 on Tuesday. Rexford Industrial Realty has a 1 year low of $41.56 and a 1 year high of $58.02. The firm’s 50-day moving average is $46.05 and its 200 day moving average is $48.33. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 45.97, a PEG ratio of 2.02 and a beta of 0.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.73 and a quick ratio of 1.73.

Rexford Industrial Realty (NYSE:REXR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.21). The firm had revenue of $237.60 million during the quarter, compared to the consensus estimate of $227.70 million. Rexford Industrial Realty had a return on equity of 3.31% and a net margin of 30.71%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.54 EPS. Sell-side analysts anticipate that Rexford Industrial Realty will post 2.34 EPS for the current fiscal year.

Insider Activity

In related news, CEO Howard Schwimmer sold 30,358 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $48.86, for a total transaction of $1,483,291.88. Following the completion of the transaction, the chief executive officer now directly owns 50,673 shares in the company, valued at approximately $2,475,882.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of REXR. Massmutual Trust Co. FSB ADV raised its holdings in 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. V Square Quantitative Management LLC purchased a new stake in shares of Rexford Industrial Realty during the second quarter worth about $26,000. GAMMA Investing LLC bought a new stake in Rexford Industrial Realty during the 4th quarter valued at approximately $41,000. EverSource Wealth Advisors LLC lifted its holdings in Rexford Industrial Realty by 1,252.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 933 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 864 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Rexford Industrial Realty by 136.6% in the 1st quarter. Advisors Asset Management Inc. now owns 1,086 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 627 shares during the period. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Company Profile

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.