As previously reported, Scotiabank upgraded Rexford Industrial to Outperform from Sector Perform with an unchanged price target of $55. The company’s well-located and “irreplaceable” portfolio carries substantial embedded earnings growth and the stock’s valuation looks “attractive” following the selloff since Q1, the analyst tells investors. Concerns surrounding market rent growth and capital allocation are “more than priced in,” the analyst contends.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on REXR:
- Rexford Industrial files automatic mixed securities shelf
- Rexford Industrial price target lowered to $49 from $56 at Truist
- Rexford Industrial price target lowered to $53 from $61 at Baird
- Rexford Industrial raises FY23 core FFO view to $2.16-$2.18 from $213-$2.16
- Rexford Industrial reports Q3 core FFO 56c, consensus 56c