Wedbush initiated coverage of Rexford Industrial with a Neutral rating and $45 price target. Rexford is a pure-play industrial real estate investment trust with 100% of its portfolio located in infill locations throughout the Southern California region, the analyst tells investors in a research note. The firm says that after years of outsized and accelerating growth, the company’s fundamentals have been normalizing over the past 12-18 months. Wedbush awaits a catalyst to emerge that changes the direction of Rexford’s fundamentals.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REXR:
- Rexford Industrial Realty Announces Quarterly Earnings
- Rexford Industrial Announces First Quarter 2024 Financial Results
- Rexford Industrial raises 2024 core FFO view to $2.31-$2.34 from $2.27-$2.30
- Rexford Industrial reports Q1 core FFO 58c, consensus 57c
- Rexford Industrial price target lowered to $53 from $57 at Truist