BMO Capital analyst John Kim has maintained their neutral stance on REXR stock, giving a Hold rating on April 11.
John Kim’s rating is based on a combination of factors that reflect both strengths and challenges for Rexford Industrial Realty. The company reported a strong first quarter in 2025, with core funds from operations per share (FFOps) surpassing expectations by four cents, largely due to termination income. Additionally, Rexford maintained its full-year guidance, and leasing activity was robust, with a significant increase in signed leases compared to the trailing twelve months.
However, John Kim also noted several concerns that contribute to the Hold rating. Despite the strong leasing activity, the industrial market fundamentals are weakening, with a notable year-over-year decline in market rents and a decrease in portfolio mark-to-market value. Furthermore, cash rent spreads on new leases have fallen, and same-store net operating income has seen a decline. These factors suggest caution, as they indicate potential headwinds that could impact Rexford’s future performance.
In another report released on April 11, Mizuho Securities also maintained a Hold rating on the stock with a $37.00 price target.