Rexford Indl Rlty Inc Stock Price, News & Analysis

Rexford Industrial Realty (REXR) announced strong Q4 2021 results, reporting net income of $34.8 million ($0.23/share), up from $13.2 million ($0.10/share) year-over-year. Core FFO increased 61.5% to $69.6 million ($0.45/share). For the full year, net income reached $111.8 million ($0.80/share), up from $61.3 million ($0.51/share). The company acquired 19 properties for $551.4 million and plans to increase its dividend by 31.3%. Despite these successes, 2022 guidance indicates slower same property NOI growth of 3.25%-4.25%. Rexford ended the year with a solid liquidity position and low leverage.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of five industrial properties for a total of $170 million and the sale of one property for $16.5 million. The transactions reinforce the company's strategy of leveraging Southern California's industrial market, which is characterized by low supply and high demand. Key acquisitions include properties in Los Angeles and Santa Clarita, with projected unlevered yields between 3.5% and 6.2%. The company has over $450 million in additional investments under contract, indicating strong growth potential amidst a robust real estate market.

Rexford Industrial Realty (REXR) announced the 2021 tax treatment for common and preferred stock dividend distributions. Common stock dividends totaled $1.175 per share with approximately 89.4% classified as taxable ordinary dividends. Preferred stock dividends amounted to $1.468752 per share in total, all considered taxable ordinary dividends. Key record and payable dates are outlined, including $0.240 per share payable for common stock on January 18, 2022. Shareholders are advised to consult tax advisors regarding the impact.

PS Business Parks (NYSE:PSB) announced the appointment of Stephen W. Wilson as interim President and CEO, and Maria R. Hawthorne as interim COO, effective January 17, 2022, following Dan "Mac" Chandler III's temporary leave for health reasons. Adeel Khan joined as CFO on January 10, 2022. The Board expresses confidence in the new interim leadership, highlighting their extensive experience. PS Business Parks operates 97 properties, serving 5,000 tenants across 28 million square feet, primarily in coastal markets.

Rexford Industrial Realty (REXR) reported strong operational results for Q4 and full year 2021, reflecting robust tenant demand in Southern California's industrial market. The company executed nearly 7 million sq. ft. in leases, achieving GAAP and cash releasing spreads of 43% and 29% respectively, with portfolio occupancy at 99.1%. Rexford completed $1.9 billion in investments with a projected 5.4% cash yield. The company maintained a fortress-like balance sheet with no debt maturities until 2022, and over $400 million in new investments under contract.

On January 5, 2022, Rexford Industrial Realty (NYSE: REXR) announced that it will release its fourth quarter and full year 2021 financial results after market close on February 9, 2022. A conference call with management is scheduled for February 10, 2022, at 1:00 PM ET. The company operates in Southern California's industrial real estate sector, owning 296 properties totaling approximately 37.0 million rentable square feet, with an additional 20 properties managed comprising around 1.0 million rentable square feet.

On January 3, 2022, Rexford Industrial Realty (NYSE: REXR) announced the acquisition of eight industrial properties totaling $270 million. This acquisition boosts their portfolio to 296 properties across 37.1 million square feet, underlining their focus on Southern California's prime infill markets. In 2021, Rexford invested $1.9 billion in industrial properties, demonstrating significant growth potential. The company has an additional $400 million in investments under contract, supported by a robust balance sheet.

Rexford Industrial Realty announces the appointment of Angela Kleiman as an independent director effective December 31, 2021. Kleiman, currently COO of Essex Property Trust, brings extensive experience in operations and finance to the board. Her leadership roles include Executive Vice President and CFO at Essex and positions in investment management and banking. The board also noted the retirement of Peter Schwab, who served since 2014, to enhance board diversity. Rexford Industrial operates 288 properties in Southern California, focusing on industrial market growth.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of five industrial properties for a total of $141.4 million, funded with cash on hand. The strategic acquisitions exemplify Rexford's expertise in the Southern California market, characterized as the nation's strongest industrial market. Year-to-date investments total $1.6 billion, with an additional $350 million in acquisitions under contract or accepted. The company aims to enhance cash flow through value-add initiatives and is well-positioned for future growth with a strong balance sheet.