HighTower Advisors LLC Sells 149,204 Shares of Rexford Industrial Realty, Inc. $REXR

Key Points

• HighTower Advisors cut its Rexford Industrial Realty position by 55.2%, selling 149,204 shares and retaining 120,951 shares valued at approximately $4.05 million. Institutional investors collectively own 99.52% of the REIT.
• Analyst sentiment remains mixed, with five Buy, six Hold, and four Sell ratings; the consensus rating is Hold with a $41 price target. Shares recently opened at $38.02.
• Rexford reported a quarterly loss of $2.26 per share despite $243 million in revenue, while maintaining a quarterly dividend of $0.435 per share, equivalent to a 4.6% annualized yield.

HighTower Advisors LLC lessened its holdings in shares of Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 55.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,951 shares of the real estate investment trust's stock after selling 149,204 shares during the period. HighTower Advisors LLC owned 0.05% of Rexford Industrial Realty worth $4,052,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in Rexford Industrial Realty during the 2nd quarter valued at about $1,293,168,000. California State Teachers Retirement System grew its holdings in Rexford Industrial Realty by 3,152.0% in the second quarter. California State Teachers Retirement System now owns 8,890,398 shares of the real estate investment trust's stock worth $297,828,000 after purchasing an additional 8,617,017 shares during the period. Soroban Capital Partners LP increased its stake in shares of Rexford Industrial Realty by 57.2% during the second quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust's stock valued at $326,925,000 after purchasing an additional 3,344,677 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $86,861,000. Finally, Royal London Asset Management Ltd. bought a new position in shares of Rexford Industrial Realty during the second quarter valued at approximately $91,671,000. 99.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Rexford Industrial Realty from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 1st. Citigroup reiterated a "neutral" rating on shares of Rexford Industrial Realty in a research note on Wednesday, July 29th. Wall Street Zen downgraded Rexford Industrial Realty from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Weiss Ratings cut Rexford Industrial Realty from a "hold (c)" rating to a "sell (d)" rating in a research note on Wednesday, July 29th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Rexford Industrial Realty in a research note on Monday, July 27th. 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 MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $41.00.

Rexford Industrial Realty Stock Up 2.8%

Shares of Rexford Industrial Realty stock opened at $38.02 on Friday. The company has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $35.62. The stock has a market capitalization of $8.48 billion, a PE ratio of -21.01 and a beta of 1.18. Rexford Industrial Realty, Inc. has a 52-week low of $32.14 and a 52-week high of $44.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.70.

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

Rexford Industrial Realty Announces Dividend

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

About Rexford Industrial Realty

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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