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.
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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
