Engineers Gate Manager LP Grows Position in Rexford Industrial Realty, Inc. $REXR

Key Points

• Engineers Gate Manager LP boosted its Rexford Industrial Realty stake by 1,208.5% in the fourth quarter, ending with 663,472 shares worth about $25.7 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 99.52% of the stock; several other firms also raised or initiated positions.
• Rexford reported Q1 earnings of $0.38 per share, topping estimates, and announced a $0.435 quarterly dividend to be paid July 15, implying a 5.4% yield.

Engineers Gate Manager LP increased its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 1,208.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 663,472 shares of the real estate investment trust's stock after acquiring an additional 612,768 shares during the quarter. Engineers Gate Manager LP owned approximately 0.29% of Rexford Industrial Realty worth $25,690,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in REXR. Soroban Capital Partners LP lifted its stake in Rexford Industrial Realty by 57.2% in the second quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock worth $326,925,000 after acquiring an additional 3,344,677 shares during the period. Royal London Asset Management Ltd. purchased a new stake in Rexford Industrial Realty in the second quarter worth about $91,671,000. Norges Bank purchased a new stake in Rexford Industrial Realty in the fourth quarter worth about $73,777,000. Principal Financial Group Inc. lifted its stake in Rexford Industrial Realty by 19.5% in the fourth quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust's stock worth $446,006,000 after acquiring an additional 1,881,905 shares during the period. Finally, Barclays PLC lifted its stake in Rexford Industrial Realty by 175.0% in the third quarter. Barclays PLC now owns 1,994,915 shares of the real estate investment trust's stock worth $82,011,000 after acquiring an additional 1,269,603 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel David E. Lanzer sold 33,299 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $35.47, for a total transaction of $1,181,115.53. Following the transaction, the general counsel owned 33,299 shares in the company, valued at $1,181,115.53. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Rexford Industrial Realty Stock Performance

REXR stock opened at $32.52 on Thursday. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 1.43 and a beta of 1.21. The firm has a 50-day simple moving average of $35.32 and a two-hundred day simple moving average of $37.16. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.50 and a current ratio of 1.50.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.27 by $0.11. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The business had revenue of $242.14 million during the quarter, compared to analyst estimates of $243.79 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was down 2.9% on a year-over-year basis. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. On average, equities analysts forecast that Rexford Industrial Realty, Inc. will post 2.41 EPS for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.435 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.74 annualized dividend and a dividend yield of 5.4%. Rexford Industrial Realty's dividend payout ratio is 187.10%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Truist Financial decreased their price target on shares of Rexford Industrial Realty from $40.00 to $38.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Weiss Ratings reissued a "hold (c-)" rating on shares of Rexford Industrial Realty in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Rexford Industrial Realty from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Mizuho decreased their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Wednesday, June 10th. Finally, Scotiabank decreased their price target on shares of Rexford Industrial Realty from $39.00 to $38.00 and set a "sector perform" rating for the company in a research report on Thursday, May 21st. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $40.77.

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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