Welcome to our dedicated page for REXFORD INDUSTRIAL REALTY news (Ticker: REXR), a resource for investors and traders seeking the latest updates and insights on REXFORD INDUSTRIAL REALTY stock.
Rexford Industrial Realty, Inc. operates as a real estate investment trust focused on owning, operating and acquiring industrial properties in infill Southern California. The company generates revenue primarily from rental income on its industrial property portfolio and reports developments tied to property operations, leasing, investment activity and financial results.
Recurring company updates also cover REIT dividend tax treatment for common and preferred stock, capital-structure disclosures, executive succession, board composition, compensation matters and governance policies. News about REXR is centered on the performance and management of its Southern California industrial real estate platform.
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.
Summary not available.
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.
Rexford Industrial Realty, Inc. (REXR) has acquired five industrial properties totaling 382,314 square feet for $68.8 million and sold a property for $1.5 million. The acquisitions are in Southern California's infill markets, enhancing the company's footprint in a competitive area. The acquisitions were funded through cash and 1031 exchange proceeds. The company aims to leverage value-add opportunities to improve cash flow and stabilize yields. With over $350 million in acquisitions under contract, Rexford anticipates substantial long-term shareholder value creation.
Rexford Industrial Realty, Inc. (NYSE: REXR) will announce its Q1 2021 financial results post-market on April 21, 2021. A conference call for analysts will follow on April 22, 2021, at 1:00 p.m. ET. The company, focused on industrial properties in Southern California, owns 253 properties totaling about 31.9 million rentable square feet and manages an additional 20 properties with 1.0 million rentable square feet. Investors are encouraged to participate in the call or listen via webcast.
Rexford Industrial Realty (NYSE: REXR) announced that Co-CEOs Michael Frankel and Howard Schwimmer will present at the 2021 Citi Global Property CEO Conference on March 9, 2021, at 3:30 PM ET. The Company, which focuses on industrial properties in Southern California, owns 253 properties totaling approximately 31.9 million rentable square feet and manages an additional 20 properties with around 1 million rentable square feet. An updated investor presentation will be available on its investor relations website prior to the conference.