Connor Clark & Lunn Investment Management Ltd. Invests $12.96 Million in Rexford Industrial Realty, Inc. $REXR

Key Points

• Connor Clark & Lunn Investment Management purchased 386,856 shares of Rexford Industrial Realty worth approximately $12.96 million, giving it a 0.17% stake. Institutional investors and hedge funds collectively own 99.52% of the REIT.
• Analyst sentiment remains mixed, with five Buy, six Hold and four Sell ratings; the stock has a consensus rating of Hold and an average price target of $40.93.
• Rexford reported a quarterly loss of $2.26 per share, missing estimates, while revenue of $243 million slightly exceeded expectations. The company declared a quarterly dividend of $0.435, representing a 4.6% annualized yield.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 386,856 shares of the real estate investment trust's stock, valued at approximately $12,960,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of Rexford Industrial Realty as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Rexford Industrial Realty in the 2nd quarter valued at $1,293,168,000. Soroban Capital Partners LP boosted its stake in Rexford Industrial Realty by 57.2% during the 2nd quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock worth $326,925,000 after purchasing an additional 3,344,677 shares during the period. Royal London Asset Management Ltd. acquired a new stake in Rexford Industrial Realty during the 2nd quarter worth $91,671,000. Norges Bank purchased a new position in Rexford Industrial Realty during the 4th quarter worth $73,777,000. Finally, Principal Financial Group Inc. grew its position in Rexford Industrial Realty by 19.5% during the 4th quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust's stock worth $446,006,000 after purchasing an additional 1,881,905 shares during the last quarter. 99.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on REXR shares. Truist Financial dropped their price objective on shares of Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Evercore reissued an "outperform" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Barclays cut their price target on Rexford Industrial Realty from $40.00 to $36.00 and set an "underweight" rating for the company in a research note on Thursday, July 16th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Finally, Citigroup reiterated a "neutral" rating on shares of Rexford Industrial Realty in a research report on Wednesday, July 29th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.93.

Rexford Industrial Realty Trading Up 0.2%

NYSE REXR opened at $37.74 on Wednesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $8.41 billion, a P/E ratio of -20.85 and a beta of 1.19. Rexford Industrial Realty, Inc. has a 52-week low of $32.14 and a 52-week high of $44.38. The firm has a 50-day moving average price of $35.86 and a 200 day moving average price of $35.66.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($2.86). Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The business had revenue of $243.00 million during the quarter, compared to analysts' expectations of $240.24 million. During the same period in the prior year, the firm posted $0.59 EPS. Rexford Industrial Realty's revenue for the quarter was down 1.6% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. Equities research analysts expect that Rexford Industrial Realty, Inc. will post 2.39 EPS for the current year.

Rexford Industrial Realty Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.435 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is currently -96.13%.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc NYSE: REXR is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company's portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford's strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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