Scotiabank Upgrades Rexford Industrial Realty (REXR) Rating Despite Lower Price Target
On June 18, Scotiabank upgraded its rating for Rexford Industrial Realty Inc. (NYSE:REXR) to 'Outperform' from 'Sector Perform', while reducing the price target to $36 from $38. The upgrade reflects a belief that much of the negative sentiment is already priced in and that share buybacks signal management's confidence.
Topics: Real Estate REITs Stock Analysis