Rexford Industrial upgraded to Outperform at Evercore on long-term occupancy

As previously reported, Evercore ISI analyst Michael Griffin upgraded Rexford Industrial (REXR) to Outperform from In Line with a price target of $40, up from $37. While noting that the firm’s 2026 and 2027 core FFO estimates are unchanged, the firm increased its occupancy assumptions in the outyears as it sees the company’s portfolio reaching a long-term occupancy rate of 95% inclusive of development leasing, up from 90.2% as of year-end 2025.