Rexford Indl Rlty Inc Stock Price, News & Analysis

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of two industrial properties totaling 421,824 square feet and an 80.2-acre industrial storage site for $285.6 million. The company also sold a 71,600 square foot property for $18.6 million, funded by 1031 proceeds, cash, and previous equity offerings. Key acquisitions include properties in Ontario and Rancho Dominguez, offering favorable cash flow and future value-add opportunities. With over $1.3 billion invested year-to-date and additional investments under contract, Rexford aims for long-term cash flow growth.

Rexford Industrial Realty, Inc. (NYSE: REXR) has announced the release of its third quarter financial results on October 20, 2021, after market close. A conference call with senior management is scheduled for October 21, 2021, at 1:00 p.m. Eastern Time. Interested participants can join the call by dialing 1-877-407-0789 (domestic) or 1-201-689-8562 (international). A webcast of the call will be available on the company's investor relations website. Rexford Industrial is focused on industrial properties in Southern California, owning 277 properties with approximately 34.9 million rentable square feet.

Rexford Industrial Realty has priced a public offering of 9,600,000 shares of common stock, aiming for approximately $565.9 million in gross proceeds. The offering includes 3,100,000 shares directly from the Company and 6,500,000 shares from forward purchasers. The proceeds will fund the acquisition of an 83-acre industrial property in Los Angeles County and support future acquisitions and corporate purposes. Underwriters BofA Securities and J.P. Morgan lead the offering, which includes a 30-day option for additional shares.

Rexford Industrial Realty, Inc. (NYSE: REXR) announced a public offering of 9,600,000 shares, with 3,100,000 shares offered directly by the Company and the remainder through forward purchasers. BofA Securities and J.P. Morgan are the joint lead managers. Proceeds from the initial sale will fund the acquisition of an 83-acre industrial property in Los Angeles County, with future proceeds intended for further acquisitions and corporate purposes. The offering is under an effective shelf registration statement, with a 30-day option for underwriters to purchase an additional 1,440,000 shares.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of four industrial properties in Southern California for $250.5 million, funded by cash and forward equity settlements. These properties total 837,500 square feet and are strategically located in infill markets with low vacancy rates. The investments highlight Rexford's access to high-demand areas and align with their strategy to enhance value through redevelopment. Year-to-date, the company has completed over $1 billion in acquisitions and has an additional $375 million under contract, reinforcing its strong balance sheet.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of two industrial properties for $194.4 million, enhancing its footprint in Southern California's competitive market. The acquisitions, funded by cash on hand, include a 53,248 square foot property in Van Nuys for $12.4 million and a 575,976 square foot campus in Torrance for $182 million. With $779 million in acquisitions year-to-date and plans for further investments, the company aims to create shareholder value through strategic positioning in a market with low vacancy rates.

Rexford Industrial Realty announces the acquisition of three industrial properties in Southern California for a total of $115.2 million. The purchases include a 5.8-acre redevelopment site, a 107,023 SF industrial building, and a 22.3-acre outdoor storage site, funded with cash on hand. Year-to-date, Rexford has completed $585 million in acquisitions, with over $700 million in new investments under contract. The properties are expected to generate stabilized unlevered cash yields ranging from 3.6% to 6.0%.

Rexford Industrial Realty has announced a public offering of $400 million in 2.150% senior notes due in 2031. Priced at 99.014% of the principal, the offering is set to settle on August 9, 2021. Proceeds will fund investments in green building projects and repay existing term loans and preferred stock. The company manages 269 properties with approximately 33.1 million rentable square feet, enhancing its position in the Southern California industrial real estate market. The offering is subject to customary closing conditions.

Rexford Industrial Realty, Inc. (REXR) reported strong Q2 2021 results, with net income of $20.6 million ($0.15/share), up from $11.4 million ($0.10/share) in Q2 2020. Core FFO grew 35.9% to $52.8 million, or $0.39/share, while consolidated NOI increased 30.9% to $79.7 million. The company achieved leasing activity of 2.2 million square feet with average rental rates up 33.9%. They completed $470 million in investments year-to-date, maintaining a low net debt-to-enterprise value ratio of 12%. The company revised its 2021 guidance upward for net income and Core FFO.