Rexford Industrial Realty (NYSE:REXR) Shares Gap Down – What’s Next?

Rexford Industrial Realty, Inc. (NYSE:REXR) gapped down prior to trading on Thursday . The stock had previously closed at $40.77, but opened at $39.00. Rexford Industrial Realty shares last traded at $39.46, with a volume of 251,168 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on REXR. Truist Financial lowered their price target on shares of Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Bank of America cut shares of Rexford Industrial Realty from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $66.00 to $49.00 in a report on Monday, October 21st. Scotiabank lowered Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $55.00 to $48.00 in a report on Friday, October 25th. Mizuho cut their price objective on shares of Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Rexford Industrial Realty in a research report on Tuesday, January 14th. They set a “hold” rating and a $40.00 target price on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $49.42.

Rexford Industrial Realty Stock Performance

The stock’s fifty day moving average price is $39.77 and its two-hundred day moving average price is $44.94. The company has a market cap of $8.85 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.20 and a current ratio of 1.20.

Rexford Industrial Realty (NYSE:REXR) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.27 by $0.31. Rexford Industrial Realty had a net margin of 30.40% and a return on equity of 3.35%. As a group, equities analysts predict that Rexford Industrial Realty, Inc. will post 2.34 earnings per share for the current year.

Institutional Trading of Rexford Industrial Realty

Several hedge funds have recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Rexford Industrial Realty by 27.1% in the second quarter. Creative Planning now owns 17,913 shares of the real estate investment trust’s stock valued at $799,000 after purchasing an additional 3,824 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $947,000. Handelsbanken Fonder AB lifted its position in shares of Rexford Industrial Realty by 45.5% during the third quarter. Handelsbanken Fonder AB now owns 66,202 shares of the real estate investment trust’s stock valued at $3,331,000 after purchasing an additional 20,700 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Rexford Industrial Realty by 111.7% during the third quarter. GAMMA Investing LLC now owns 1,850 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 976 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in Rexford Industrial Realty by 6.2% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 8,881 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 519 shares in the last quarter. 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.