Rexford Indl Rlty Inc Stock Price, News & Analysis

Rexford Industrial Realty (NYSE: REXR) announced it will release its second-quarter 2021 financial results after the market closes on July 21, 2021. A conference call with senior management is scheduled for July 22, 2021, at 1:00 PM ET. Rexford Industrial specializes in investing and operating industrial properties within Southern California's infill markets, boasting 266 owned properties totaling approximately 33.0 million rentable square feet and managing an additional 20 properties with about 1.0 million rentable square feet.

Rexford Industrial Realty has successfully expanded its unsecured revolving credit facility, increasing its borrowing capacity by $200 million to $700 million. The company also announced a 60 basis point reduction in the pricing of its $150 million unsecured term loan, now priced at LIBOR plus 95 basis points. These measures enhance liquidity and support growth in Southern California's industrial market, providing Rexford with a strong financial position to maximize shareholder value.

Rexford Industrial Realty, Inc. (NYSE: REXR) announced the acquisition of five industrial properties totaling 660,254 square feet for $188.9 million. The acquisitions were funded through cash-on-hand and equity offerings. Key properties include a $93.6 million campus in Los Angeles, a $27.4 million Torrance headquarters, and others in Rancho Dominguez and Valencia. The company has completed $420 million in acquisitions in 2021 and has an additional $600 million under contract. The acquisitions are expected to generate favorable cash flow growth amidst high tenant demand in Southern California.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of five industrial properties totaling 79,305 square feet for $68.1 million and the sale of one property for $8.2 million. The acquisitions, funded by cash and 1031 proceeds, reflect the company's strategy in Southern California's strong industrial market. The firm highlighted robust internal growth and $525 million in additional investments under contract. The acquisitions are expected to enhance cash flow and yield, with initial yields ranging from 4.5% to 6.1%. Overall, REXR aims to create significant shareholder value.

Rexford Industrial Realty, a real estate investment trust specializing in Southern California's industrial properties, announced participation in Nareit's REITWeek: 2021 Virtual Investor Conference. Co-CEOs Michael Frankel and Howard Schwimmer, along with CFO Laura Clark, will present on June 8, 2021, from 2:15 p.m. to 2:45 p.m. ET. An updated investor presentation is available on their website. Rexford currently owns 261 properties totaling approximately 32.3 million rentable square feet and manages an additional 20 properties with 1.0 million square feet.

Rexford Industrial Realty (NYSE: REXR) has announced the pricing of a public offering of 9,000,000 shares of its common stock, expected to generate approximately $500.4 million in gross proceeds. The offering involves forward sale agreements with J.P. Morgan and BofA Securities, allowing the company to use proceeds for future acquisitions and general corporate purposes. While Rexford will not initially receive the funds from the sale, they plan to contribute any cash proceeds from the eventual settlement of the agreements to their operating partnership.

Rexford Industrial Realty has initiated a public offering of 9,000,000 shares of its common stock. This offering is backed by forward sale agreements with J.P. Morgan and BofA Securities. The shares will be sold at market prices through various transaction methods. The company will not receive immediate proceeds from this offering; however, it plans to use future cash proceeds for acquisitions, redevelopment, and other corporate purposes. Currently, Rexford manages 259 properties in Southern California, totaling approximately 32.2 million rentable square feet.

Rexford Industrial Realty reported strong Q1 2021 results with net income of $24.9 million ($0.19/share), up from $10.8 million ($0.09/share) in Q1 2020. Core FFO rose 28.9% to $48.4 million ($0.37/share). NOI increased 28.1% to $76.1 million, and same property NOI grew 6.8%. The company executed 122 leases, achieving rental rates 47.1% higher than previous rents. Rexford had a low net debt-to-enterprise value of 13.0%. Guidance for net income per share was revised to $0.48-$0.51, and Core FFO was set at $1.41-$1.44.