Rexford Industrial Realty shares are trading lower after the company reported Q3 financial results and issued FY23 guidance. Additionally, Stifel maintained a Buy rating on the stock but lowered its price target from $60 to $56.
Portfolio Pulse from Benzinga Newsdesk
Rexford Industrial Realty's shares have dropped following the release of its Q3 financial results and FY23 guidance. Stifel has maintained a Buy rating on the stock but reduced its price target from $60 to $56.
October 19, 2023 | 6:43 pm
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Rexford Industrial Realty's stock price is likely to be negatively impacted in the short term due to disappointing Q3 results and FY23 guidance, as well as a lowered price target by Stifel.
The company's Q3 financial results and FY23 guidance, which are likely below market expectations, have led to a decrease in its stock price. Additionally, Stifel's decision to lower its price target on the stock from $60 to $56 indicates a less optimistic outlook, which could further pressure the stock price.
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