Rexford Industrial Realty (NYSE:REXR) Shares Gap Down – Should You Sell?

Rexford Industrial Realty, Inc. (NYSE:REXR) gapped down before the market opened 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on REXR shares. Mizuho decreased their price target on Rexford Industrial Realty from $46.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Scotiabank cut Rexford Industrial Realty from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $55.00 to $48.00 in a research note on Friday, October 25th. StockNews.com downgraded shares of Rexford Industrial Realty from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Industrial Alliance Securities set a $55.00 price objective on shares of Rexford Industrial Realty in a research note on Friday, October 18th. Finally, Truist Financial lowered their target price on Rexford Industrial Realty from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $49.42.

Rexford Industrial Realty Trading Down 2.4 %

The business’s 50-day moving average price is $39.77 and its 200-day moving average price is $44.94. The firm has a market capitalization of $8.85 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 1.20.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Planning increased its position in Rexford Industrial Realty by 27.1% during the 2nd quarter. Creative Planning now owns 17,913 shares of the real estate investment trust’s stock worth $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 during the second quarter worth about $947,000. Handelsbanken Fonder AB lifted its stake 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 buying an additional 20,700 shares during the period. GAMMA Investing LLC boosted its position 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 acquiring an additional 976 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its stake 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 acquiring an additional 519 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.