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Rexford Industrial Realty, Inc. (NYSE:REXR) announced Tuesday it has entered into new equity distribution agreements with BMO Capital Markets Corp., Bank of Montreal, BNP Paribas (OTC:BNPQY) Securities Corp., and BNP PARIBAS. The agreements allow for the offer and sale of up to $1.25 billion in common stock through “at the market” offerings.
According to a statement released in a regulatory filing, the company and its operating partnership also amended existing equity distribution agreements with BofA Securities, BTIG, Goldman Sachs & Co (NYSE:GS)., Jefferies, J.P. Morgan Securities, Mizuho (NYSE:MFG) Securities USA, Regions Securities, Scotia Capital (USA), Truist Securities, and Wells Fargo (NYSE:WFC) Securities to include the new participants.
As of Tuesday, Rexford Industrial Realty reported that $322.6 million of its common stock had been offered and sold under prior agreements. Following these sales, $927.4 million in common stock remains available for offer and sale under the updated equity distribution agreements.
The filing states that the agreements provide flexibility for the company to raise capital as needed through the sale of shares on the New York Stock Exchange. The company’s common stock, as well as its 5.875% Series B Cumulative Redeemable Preferred Stock (NYSE:REXR-PB) and 5.625% Series C Cumulative Redeemable Preferred Stock (NYSE:REXR-PC), are listed on the New York Stock Exchange.
This information is based on a statement in a press release included in Rexford Industrial Realty’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Rexford Industrial Realty reported strong financial results for the second quarter of 2025, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $0.48, which was significantly higher than the projected $0.25, representing a 92% surprise. Additionally, Rexford’s revenue reached $249.51 million, exceeding the forecast of $245.12 million. Despite these positive earnings, Evercore ISI downgraded Rexford Industrial Realty from Outperform to In Line, citing a delayed recovery in rental rates as a concern. The firm also adjusted its price target for Rexford to $38.00 from $39.00. Evercore noted that while Rexford’s core funds from operations (FFO) of $0.59 matched their estimate and beat the consensus of $0.58, challenges in the Southern California industrial market remain. These recent developments highlight the mixed sentiment surrounding Rexford’s financial performance and market conditions.
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