Engineers Gate Manager LP Sells 712,321 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• Engineers Gate Manager LP cut its Rexford Industrial Realty stake by 89.8% in the second quarter, selling 712,321 shares and retaining 80,661 shares worth approximately $2.7 million.
• Rexford reported a quarterly loss of $2.26 per share, missing estimates by $2.86, while revenue reached $243 million and declined 1.6% year over year.
• The company declared a quarterly dividend of $0.435 per share, equivalent to an annualized $1.74 payout and a 4.5% yield. Analysts collectively rate the stock “Hold,” with a consensus price target of $41.

Engineers Gate Manager LP trimmed its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 89.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,661 shares of the real estate investment trust's stock after selling 712,321 shares during the period. Engineers Gate Manager LP's holdings in Rexford Industrial Realty were worth $2,702,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Rexford Industrial Realty during the 4th quarter worth about $34,000. Allworth Financial LP acquired a new stake in shares of Rexford Industrial Realty in the second quarter valued at about $33,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Rexford Industrial Realty in the first quarter valued at about $33,000. Caitlin John LLC bought a new position in shares of Rexford Industrial Realty during the second quarter worth about $36,000. Finally, Global Retirement Partners LLC bought a new position in shares of Rexford Industrial Realty during the second quarter worth about $51,000. 99.52% of the stock is owned by institutional investors.

Rexford Industrial Realty Trading Up 0.8%

NYSE REXR opened at $38.35 on Tuesday. The stock has a market capitalization of $8.55 billion, a P/E ratio of -21.19 and a beta of 1.18. The business has a 50 day simple moving average of $36.85 and a 200 day simple moving average of $35.62. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.70. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38.

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

Rexford Industrial Realty Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.435 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Wednesday, September 30th. Rexford Industrial Realty's payout ratio is presently -96.13%.

Analyst Ratings Changes

Several analysts recently commented on the company. Evercore reiterated an "outperform" rating on shares of Rexford Industrial Realty in a report on Monday, July 27th. Truist Financial lowered 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 report on Thursday, May 21st. Mizuho boosted their price target on shares of Rexford Industrial Realty from $35.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Rexford Industrial Realty from $36.00 to $39.00 and gave the company an "underweight" rating in a research note on Monday, August 3rd. Finally, Raymond James Financial reiterated an "underperform" rating on shares of Rexford Industrial Realty in a research report on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of "Hold" and a consensus target price of $41.00.

Rexford Industrial Realty Company Profile

Rexford Industrial Realty, Inc is a real estate investment trust that owns, operates and redevelops industrial properties in Southern California. The company focuses primarily on infill industrial real estate, including warehouses, distribution facilities, manufacturing buildings and other properties used for logistics and commercial operations.

Rexford seeks to create value through the acquisition, leasing, repositioning, redevelopment and development of industrial properties. Its properties are generally located in densely populated and supply-constrained markets across the region, where proximity to customers, transportation infrastructure and major population centers can support demand for industrial space.

Founded in 2001, Rexford Industrial Realty has built a portfolio concentrated in the Greater Los Angeles and San Diego areas.

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