Analyst Barry Oxford of Colliers Securities maintained a Buy rating on Rexford Industrial Realty (REXR – Research Report), with a price target of $50.00.
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Barry Oxford has given his Buy rating due to a combination of factors that positively influence Rexford Industrial Realty’s outlook. The company’s strategic positioning in in-fill locations within the high-demand Southern California industrial market, coupled with its quality assets and active acquisition strategy, supports a positive long-term growth potential. Despite facing short-term occupancy challenges, the portfolio’s embedded growth potential, such as a 20% mark-to-market increase, is expected to mitigate some of these issues.
Furthermore, Rexford’s financial performance has been robust, with an 8.2% increase in Core FFO year-over-year and significant growth in cash same-store NOI. The company’s balance sheet is strong, characterized by low debt levels and ample liquidity, with no significant debt maturities until 2026. Recent acquisitions with attractive yields further enhance its growth prospects. Although the short-term guidance indicates potential challenges, the company’s strategic acquisitions and financial resilience justify the Buy rating.
According to TipRanks, Oxford is a 3-star analyst with an average return of 2.4% and a 58.61% success rate. Oxford covers the Real Estate sector, focusing on stocks such as Mid-America Apartment, Strawberry Fields REIT Inc, and AvalonBay.