Activist Elliott Is Said to Take Large Stake in Rexford REIT (2)

Elliott Investment Management has built an active stake in Los Angeles-based real estate investment trust Rexford Industrial Realty Inc., according to people familiar with the matter.

It makes the hedge fund one of the top five investors the industrial real estate company, the people said, asking not to be identified because the matter is private. Elliott’s intentions couldn’t be immediately learned.

A representative for Rexford didn’t immediately respond to a request for comment. A spokesperson for Elliott declined to comment.

Shares of Rexford, which rose as much as 6.6% on Wednesday, closed up 4.4% to $41.78 in New York, ...