Wells Fargo lowered the firm’s price target on Rexford Industrial (REXR) to $53 from $61 and keeps an Overweight rating on the shares. The firm notes Q3 is on a good path through Week 2. Wells is most encouraged by Datacenters, Healthcare, Mfg Housing and Retail. However, it notes investor discussions this week focused more on macro: can REITs work if 10-year yield rises from here; playbook for Republican sweep or Harris/gridlock; conservative 2025 guidance disappointment risk; defensive position in Resi over near term, and timing sector bottoms.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on REXR:
- Rexford Industrial downgraded to Sector Perform at Scotiabank on SoCal softness
- Rexford Industrial downgraded to Sector Perform from Outperform at Scotiabank
- Rexford Industrial added as a bullish Fresh Pick at Baird
- Rexford Industrial Realty Announces Key Executive Changes
- Rexford appoints Michael Fitzmaurice as CFO and promotes Laura Clark to COO