Stifel cuts Rexford PT on higher interest rates

Rexford Industrial Realty

04/10/2023 13:14

** Stifel cuts PT on real estate firm Rexford Industrial
Realty  REXR.N  to $60 from $70, citing higher interest rate
environment 
    ** The new price target represents a 27.09% upside on the
stock's last close
    ** Brokerage maintains "buy" rating
        ** Co is to benefit "by re-leasing space that is
currently rented at rates well below market" - Stifel
    ** 8 of 12 brokerages rate the stock "buy" or higher, 4
"hold"; their median PT is $61 - LSEG data
    ** YTD stock down 13.60% 

 (Reporting by Aishwarya Jain)
 ((Aishwarya.Jain@thomsonreuters.com))