Welcome to our dedicated page for Rexford Indl Rlty news (Ticker: REXR), a resource for investors and traders seeking the latest updates and insights on Rexford Indl Rlty stock.
Rexford Industrial Realty, Inc. (NYSE: REXR) is a real estate investment trust focused on industrial properties in infill Southern California, and its news flow reflects this specialized strategy. Company updates often highlight leasing activity across millions of square feet, Same Property Portfolio performance, and trends in net effective and cash rental rate changes on new and renewal leases. Investors following REXR news can see how leasing volumes, occupancy and rent spreads evolve across key Southern California industrial submarkets.
Rexford Industrial regularly issues quarterly earnings releases that detail net income attributable to common stockholders, Core Funds From Operations (Core FFO), Core FFO per diluted share, Total Portfolio NOI and Same Property Portfolio NOI. These releases also describe repositioning and redevelopment leasing, stabilization of value-add projects, and property dispositions, often accompanied by information on unlevered internal rates of return and stabilized yields.
Beyond earnings, REXR news includes operating and capital markets updates covering leasing progress, occupancy levels, share repurchase activity, debt repayment, credit facility amendments and interest rate hedging actions. The company also reports on board and leadership developments, such as its CEO succession plan and the appointment of new independent directors, as well as executive compensation program decisions disclosed through SEC filings and related press releases.
Rexford Industrial additionally publishes news on its ESG and climate-related initiatives, including the release of its Environmental, Social and Governance Impact (ESGi) Report and Task Force on Climate-Related Financial Disclosures (TCFD) Report. These communications outline environmental, societal and governance priorities, such as solar investments, building certifications, community engagement and shareholder outreach. For investors and analysts, the REXR news stream provides ongoing insight into operational performance, capital allocation, governance and sustainability efforts within the infill Southern California industrial 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.
Rexford Industrial Realty (NYSE: REXR) has announced the acquisition of five industrial properties for $125.9 million and the sale of one property for $11.7 million. The acquisitions funded by 1031 proceeds and cash on hand aim to leverage their value-add expertise in Southern California's industrial markets. With $1.4 billion in investments this year, Rexford also has over $300 million in additional acquisitions under contract. The company emphasizes its strong cash yields and low-leverage balance sheet as key to sustaining growth and value for stakeholders.
Rexford Industrial Realty reported a robust financial performance for Q3 2021, with net income reaching $31.5 million, or $0.23 per diluted share, up from $25.9 million in Q3 2020. Core FFO surged by 46.9% to $59.6 million, translating to $0.43 per diluted share. The company's consolidated NOI increased by 39.4%, with a Same Property Portfolio NOI growth of 9.7%. Rexford executed 1.8 million square feet of leasing activity, achieving a 54.3% increase in rental rates. The company ended the quarter with a low net debt-to-enterprise value ratio of 12.7%. Guidance for full-year metrics was revised upward, reflecting a positive outlook.
PS Business Parks, Inc. (NYSE:PSB) announces the appointment of Adeel Khan as Executive Vice President, Chief Financial Officer, and Corporate Secretary, effective January 10, 2022. Khan, a Certified Public Accountant, previously served as CFO for Rexford Industrial Realty, Inc. (NYSE:REXR). Jeffrey D. Hedges will transition out of the CFO role by November 12, 2021, continuing as a consultant until February 11, 2022. CEO Mac Chandler expressed enthusiasm about Khan's expertise in real estate and finance.
PS Business Parks operates 97 properties, serving approximately 5,100 tenants across 28 million square feet.