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Investing.com - Truist Securities raised its price target on Rexford Industrial Realty (NYSE:REXR) to $44.00 from $42.00 on Wednesday, while maintaining a Buy rating on the industrial REIT. The company, currently valued at $10 billion with a stock price of $40.94, has demonstrated strong revenue growth of ~14% over the last twelve months.
The price target increase follows Rexford’s mid-quarter update, which showed improved operational metrics including a 50 basis point increase in third-quarter occupancy and stronger leasing spreads of 30% GAAP and 15% cash. According to InvestingPro, two analysts have recently revised their earnings upward for the upcoming period, supporting the positive outlook.
Truist Securities has revised its normalized FFO estimates upward to $2.39 for 2025 and $2.48 for 2026, compared to previous estimates of $2.37 and $2.45 respectively.
The firm cited several positive developments in its analysis, including improved development lease-up progress, strategic asset sales, share repurchases, and debt repayment actions taken by the company.
Despite acknowledging near-term macroeconomic uncertainty, Truist Securities noted that Los Angeles industrial fundamentals are showing signs of gradual recovery, with Rexford benefiting from a de-risked development pipeline and potential activist investor influence.
In other recent news, Rexford Industrial Realty, Inc. announced its Q2 2025 earnings, reporting a core funds from operations (FFO) of $0.59 per share. This figure represents a slight increase from the previous quarter, highlighting the company’s robust financial performance. Rexford Industrial Realty has maintained strong liquidity, which is an essential factor for investors. Despite challenges in market rents, the company continues to benefit from its strategic positioning in Southern California’s infill markets. These developments have influenced investor sentiment positively. The earnings report underscores the company’s resilience in navigating regional challenges. No significant mergers or acquisitions were reported in this period. Additionally, there were no recent analyst upgrades or downgrades to note.
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