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

Rexford Industrial Realty (NYSE:REXR) had its target price cut by Truist Financial from $45.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the stock. BNP Paribas downgraded shares of Rexford Industrial Realty to a “hold” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Rexford Industrial Realty in a report on Wednesday, October 8th. UBS Group set a $44.00 target price on shares of Rexford Industrial Realty in a research note on Monday, November 10th. Wall Street Zen cut shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Finally, Mizuho upped their price target on Rexford Industrial Realty from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $43.00.

Rexford Industrial Realty Stock Performance

Shares of NYSE REXR opened at $39.56 on Tuesday. Rexford Industrial Realty has a 1 year low of $29.68 and a 1 year high of $44.38. The firm has a market cap of $9.21 billion, a P/E ratio of 27.86, a PEG ratio of 2.58 and a beta of 1.22. The stock has a fifty day moving average price of $40.51 and a two-hundred day moving average price of $40.27. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.95 and a current ratio of 2.95.

Insider Activity at Rexford Industrial Realty

In other news, CEO Michael S. Frankel sold 18,750 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer owned 583,538 shares of the company’s stock, valued at $23,376,532.28. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 57,118 shares of company stock valued at $2,345,706 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Rexford Industrial Realty

Several institutional investors and hedge funds have recently modified their holdings of REXR. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rexford Industrial Realty by 3.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 13,059 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 423 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in Rexford Industrial Realty by 10.1% in the second quarter. Westwood Holdings Group Inc. now owns 649,966 shares of the real estate investment trust’s stock worth $23,119,000 after buying an additional 59,671 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Rexford Industrial Realty by 3.8% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,815 shares of the real estate investment trust’s stock valued at $9,206,000 after acquiring an additional 9,443 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Rexford Industrial Realty during the second quarter valued at approximately $586,000. Finally, CWM LLC lifted its stake in Rexford Industrial Realty by 637.5% in the second quarter. CWM LLC now owns 31,129 shares of the real estate investment trust’s stock valued at $1,107,000 after acquiring an additional 26,908 shares during the last quarter. 99.52% of the stock is currently owned by hedge funds and other institutional investors.

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.