Soroban Capital Partners LP Lowers Holdings in Rexford Industrial Realty, Inc. $REXR

Key Points

• Soroban Capital Partners cut its Rexford Industrial Realty stake by 60.6% in the first quarter, selling 5.57 million shares and retaining 3.63 million shares worth approximately $118.7 million.
• Analyst sentiment remains mixed, with five Buy, six Hold and three Sell ratings; the consensus rating is Hold with a $40.38 price target.
• Rexford reported quarterly revenue of $243 million but missed earnings expectations, posting a loss of $2.26 per share. The company declared a $0.435 quarterly dividend, equivalent to a 4.5% annualized yield.

Soroban Capital Partners LP reduced its position in Rexford Industrial Realty, Inc. (NYSE:REXR - Free Report) by 60.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,625,821 shares of the real estate investment trust's stock after selling 5,565,217 shares during the quarter. Rexford Industrial Realty comprises about 0.2% of Soroban Capital Partners LP's holdings, making the stock its 25th largest position. Soroban Capital Partners LP owned approximately 1.61% of Rexford Industrial Realty worth $118,673,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of REXR. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rexford Industrial Realty by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 28,336,003 shares of the real estate investment trust's stock valued at $1,097,172,000 after acquiring an additional 667,594 shares in the last quarter. State Street Corp increased its stake in shares of Rexford Industrial Realty by 4.9% during the second quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust's stock worth $428,509,000 after acquiring an additional 556,810 shares during the period. Principal Financial Group Inc. raised its holdings in Rexford Industrial Realty by 19.5% during 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 purchasing an additional 1,881,905 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Rexford Industrial Realty by 2.4% during the first quarter. Dimensional Fund Advisors LP now owns 3,581,987 shares of the real estate investment trust's stock worth $117,239,000 after purchasing an additional 85,135 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Rexford Industrial Realty by 0.6% in the third quarter. Northern Trust Corp now owns 3,518,818 shares of the real estate investment trust's stock valued at $144,659,000 after purchasing an additional 20,096 shares during the period. Hedge funds and other institutional investors own 99.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on REXR. Wall Street Zen lowered Rexford Industrial Realty from a "hold" rating to a "sell" rating in a report on Monday, July 20th. Zacks Research raised Rexford Industrial Realty from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Scotiabank raised Rexford Industrial Realty from a "sector perform" rating to a "sector outperform" rating and reduced their price target for the company from $38.00 to $36.00 in a report on Thursday, June 18th. Weiss Ratings upgraded Rexford Industrial Realty from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. lowered Rexford Industrial Realty from a "neutral" rating to an "underweight" rating and dropped their price objective for the stock from $38.00 to $36.00 in a report on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $40.38.

Rexford Industrial Realty Stock Down 0.5%

Shares of NYSE REXR opened at $38.80 on Tuesday. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of -21.44, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. 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 $35.00 and a 200 day moving average price of $36.12. The company has a quick ratio of 1.50, a current ratio of 1.70 and a debt-to-equity ratio of 0.42.

Rexford Industrial Realty (NYSE:REXR - Get Free Report) last issued its earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share for the quarter, missing the consensus estimate of $0.60 by ($2.86). Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.The company had revenue of $243.00 million for the quarter, compared to analyst estimates of $240.24 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company's quarterly revenue 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 anticipate that Rexford Industrial Realty, Inc. will post 2.41 EPS for the current fiscal year.

Rexford Industrial Realty Announces Dividend

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

Rexford Industrial Realty 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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