Land & Buildings Just Ditched Rexford—Should REIT Investors Care?

Core Insights - Land & Buildings Investment Management, LLC has completely liquidated its stake in Rexford Industrial Realty, selling all 561,113 shares for an estimated value of $19,958,789, which previously accounted for 3.98% of the fund's assets under management [2][3][4] Company Overview - Rexford Industrial Realty, Inc. is a leading industrial REIT focused on infill markets across Southern California, generating revenue primarily through rental income from its diversified portfolio of industrial real estate properties [9][11] - As of November 24, 2025, Rexford shares were priced at $40.84, reflecting a year-to-date performance of 5.6% and a current dividend yield of 4.19% [4][5] Fund Holdings - After the sale of Rexford shares, Land & Buildings Investment Management's total reported U.S. equity holdings stood at approximately $544.91 million across 22 positions, with Rexford now representing 0% of the portfolio [3][4] - The fund's top holdings post-sale include AHR ($48.4 million, 8.9% of AUM), SPG ($38.70 million, 7.1% of AUM), and others [8] Market Context - The move to sell Rexford Industrial Realty indicates a significant shift in Land & Buildings Investment Management's real estate allocation, especially given the previous size of the position [10] - Rexford remains a strong player in the industrial REIT sector, benefiting from a market characterized by tight supply and consistent demand for infill space in Southern California [10]