
REXR Stock Forecast & Price Target
REXR Analyst Ratings
Bulls say
Rexford Industrial Realty has demonstrated a solid initial return of 4.7%, anticipated to grow to 5.6% as rent levels remain below market rates, contributing positively to 2024 FFO guidance. The company is experiencing strong operational metrics, with cash same store net operating income (NOI) increasing by 10% and healthy average occupancy levels, which highlight ongoing asset and earnings growth since its 2013 IPO. Furthermore, despite an uptick in concessions reflecting a return to pre-pandemic levels, Rexford maintains a relatively healthy balance sheet, marked by a debt-to-EBITDA ratio of 4.6x, indicating sustainable financial strength.
Bears say
Rexford Industrial Realty is facing a challenging outlook as guidance for 2024 indicates a projected decrease in occupancy rates by 75 to 100 basis points and cash same-store NOI growth of only 7.5%. The negative market sentiment is compounded by a significant decline in net absorption in the Inland Empire, which is underperforming against national trends, and a notable decrease of 23% in REXR stock year-to-date amidst stagnating market rents. Additionally, the company’s dividend yield of 3.9% falls below the REIT average of 4.5%, reflecting diminishing investor confidence in future growth potential.
This aggregate rating is based on analysts' research of Rexford Industrial Realty and is not a guaranteed prediction by Public.com or investment advice.
REXR Analyst Forecast & Price Prediction
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