Rexford Industrial Realty, Inc. $REXR Holdings Cut by Bank of America Corp DE

Key Points

• Bank of America reduced its Rexford Industrial Realty stake by 3.8%, selling 85,649 shares and retaining 2.15 million shares valued at approximately $70.5 million. Institutional investors collectively own 99.52% of the REIT.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $40.57. Recent ratings included an “underperform” call from Raymond James and a price-target reduction from Truist Financial.
• Rexford reported a quarterly loss of $2.26 per share, missing estimates by $2.86, although revenue of $243 million exceeded expectations. The company declared a quarterly dividend of $0.435 per share, representing a 4.7% annualized yield.

Bank of America Corp DE cut its stake in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,154,061 shares of the real estate investment trust's stock after selling 85,649 shares during the quarter. Bank of America Corp DE owned approximately 0.95% of Rexford Industrial Realty worth $70,502,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its position in Rexford Industrial Realty by 3.5% during the first quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust's stock worth $9,849,000 after buying an additional 8,506 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Rexford Industrial Realty by 309.8% during the 1st quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust's stock valued at $4,628,000 after acquiring an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Rexford Industrial Realty by 41.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust's stock valued at $70,931,000 after acquiring an additional 526,877 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Rexford Industrial Realty by 52.7% in the 2nd quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust's stock worth $603,000 after purchasing an additional 5,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Rexford Industrial Realty by 131.6% during the second quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 1,848 shares during the period. Institutional investors and hedge funds own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on REXR shares. Raymond James Financial began coverage on shares of Rexford Industrial Realty in a report on Wednesday, June 17th. They issued an "underperform" rating on the stock. Wall Street Zen downgraded Rexford Industrial Realty from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Truist Financial cut their price objective on 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. Mizuho decreased their target price on Rexford Industrial Realty from $38.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, June 10th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Rexford Industrial Realty in a report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.57.

Rexford Industrial Realty Trading Up 0.1%

Shares of NYSE REXR opened at $36.78 on Monday. Rexford Industrial Realty, Inc. has a 1-year low of $32.14 and a 1-year high of $44.38. The company has a 50-day moving average of $35.30 and a two-hundred day moving average of $35.93. The company has a market cap of $8.20 billion, a PE ratio of -20.32, a P/E/G ratio of 1.53 and a beta of 1.19. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last released its earnings results 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). The firm had revenue of $243.00 million for the quarter, compared to the consensus estimate of $240.24 million. Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.The company's revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 EPS. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. As a group, equities analysts expect that Rexford Industrial Realty, Inc. will post 2.41 earnings per share for the current fiscal year.

Rexford Industrial Realty Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors 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 4.7%. The ex-dividend date of this dividend is Wednesday, September 30th. Rexford Industrial Realty's dividend payout ratio (DPR) is presently -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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