Scotiabank lowered the firm’s price target on Rexford Industrial (REXR) to $39 from $44 and keeps a Sector Perform rating on the shares. The firm is updating its price targets for U.S. Real Estate & REIT stocks under its coverage following Q4 results, the analyst tells investors. Scotiabank believes REITs should be raising target development yields to focus on near-term funds from operations per share impact and believes external growth from acquisitions offer a “better thematic story,” the firm adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REXR:
- Rexford Industrial Promotes John Nahas to Chief Operating Officer
- Rexford Industrial names John Nahas as COO
- Maintaining Hold Amid Leadership Transition and Mixed Lease Economics: Market Perform with $41 Target
- Rexford Industrial price target lowered to $39 from $42 at JPMorgan
- Rexford Industrial price target lowered to $40 from $41 at Baird