Wells Fargo lowered the firm’s price target on Rexford Industrial to $61 from $66 and keeps an Overweight rating on the shares. The analyst continues to favor “supply-constrained” markets and small size segments amid easing demand for the industrial real estate investment trusts. The firm says broker commentary continues to point to resilience in the smaller size segment, and the Sunbelt markets generally continue to benefit from solid demand driven by population growth and near- and on-shoring.
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