JPMorgan downgraded Rexford Industrial to Neutral from Overweight with an unchanged price target of $55 post the Q4 report. While Rexford’s business fundamentals are “clearly very strong,” its near-term growth and guidance “looks a bit light versus what is an arguably a high bar,” the analyst tells investors in a research note. The firm says the company trades at significant premiums relative to the overall real estate investment trust group.
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