Rexford Industrial price target lowered to $60 from $70 at Stifel

Stifel lowered the firm’s price target on Rexford Industrial to $60 from $70 and keeps a Buy rating on the shares. The firm continues to believe the company is well positioned to generate attractive NOI and bottom-line growth over the next few years, but is lowering its price target for the shares due to the higher rate environment.