Rexford Industrial Realty shares are trading lower after the company reported Q4 financial results and issued FY24 Core FFO guidance below estimates. Also, JP Morgan downgraded the stock from Overweight to Neutral and announced a $55 price target.
Portfolio Pulse from Benzinga Newsdesk
Rexford Industrial Realty's shares dropped following its Q4 financial results and FY24 Core FFO guidance, which fell below expectations. Additionally, JP Morgan downgraded REXR from Overweight to Neutral and set a $55 price target.
February 07, 2024 | 3:12 pm
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Rexford Industrial Realty's stock price is likely to experience short-term pressure due to disappointing Q4 financial results and FY24 Core FFO guidance, compounded by a downgrade from JP Morgan.
The combination of missing financial targets and a downgrade by a major analyst like JP Morgan typically exerts negative pressure on a stock's short-term price. The downgrade reflects a shift in market sentiment and could lead to a sell-off among investors.
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