Truist raised the firm’s price target on Rexford Industrial (REXR) to $44 from $42 and keeps a Buy rating on the shares after its mid-quarter update last month. The upward revisions reflect stronger Q3 occupancy, higher leasing spreads, improved development lease-up, asset sales, share repurchases, and debt repayment, the analyst tells investors in a research note. Despite near-term macro uncertainty, Los Angeles industrial fundamentals are slowly recovering, with de-risked pipeline and activist optionality, the firm added.
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