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, Inc. (NYSE: REXR) reported strong operating results for Q4 and full year 2020, amid COVID-19 challenges. The company executed over 1.8 million square feet of leases, with a 30% increase in leasing spreads. Full-year acquisition volume reached $1.2 billion, with $875 million in Q4 alone. Rent collections for Q4 were 97.3%. The company maintains a robust pipeline, with $140 million in acquisitions under consideration. Rexford reported a cash balance of $176 million, with no debt maturities until 2022, positioning the company well for future growth.
Rexford Industrial Realty will release its fourth quarter and full year 2020 financial results after market close on February 10, 2021. A conference call is scheduled for February 11, 2021, at 1:00 p.m. Eastern Time to discuss the results and recent developments.
The company operates in Southern California's industrial property market, owning 248 properties with approximately 31.5 million rentable square feet. They also manage an additional 20 properties totaling about 1.0 million rentable square feet.
Rexford Industrial Realty announced the acquisition of a four-building industrial portfolio and an industrial outdoor storage property for $103.1 million, which closed on December 31, 2020. This acquisition, funded through operating partnership units and cash, adds to the Company's extensive portfolio of industrial properties in Southern California. In 2020, Rexford acquired $1.22 billion in industrial properties, expanding its holdings to 248 properties with approximately 31.5 million square feet. The new properties are expected to yield attractive long-term cash flows.
Rexford Industrial Realty, Inc. (NYSE: REXR) announced the appointment of Debra L. Morris as an independent director effective December 31, 2020. Morris brings extensive experience in corporate finance and real estate, currently serving as CFO at Apria Healthcare and previously at SITEL Worldwide. Her addition aligns with the company’s goal of improving board diversity. Concurrently, Steven C. Good will retire from the Board. Morris will join the Audit and Compensation Committees, with Tyler Rose becoming Audit Committee Chair.
Rexford Industrial Realty has acquired a six-building industrial portfolio in Vernon for $93.8 million and an industrial outdoor storage yard in Santa Fe Springs for $16.8 million, totaling $110.6 million. The portfolio, comprising 464,415 square feet, is fully leased at rents approximately 28% below market rates, with an initial unlevered yield of 4.5%. The storage yard, leased at 23% below market rates, offers a 4% yield. These acquisitions, funded by cash, underscore Rexford's strategy to capitalize on Southern California's low-supply market and enhance long-term shareholder value.
Rexford Industrial Realty has acquired a four-building industrial portfolio in Southern California's Inland Empire for $129.4 million, funded entirely with cash. This acquisition boosts Rexford's portfolio to over 30 million square feet, with a focus on high-quality industrial assets suited for logistics and e-commerce. The properties are currently 63% leased to national tenants. The stabilized unlevered yield on the investment is projected at approximately 4%, with annual rent increases expected. The Inland Empire – West submarket's vacancy rate stands at 2.5%, indicating strong demand.
Rexford Industrial Realty has acquired an 18-building industrial property portfolio for $154.6 million, funded through cash reserves. Located in the LA – San Fernando Valley, the portfolio offers 426,466 square feet of space and is 99% leased to high-quality tenants, including Fortune 500 companies. The initial unlevered yield is approximately 4.0%, with expected rental increases of at least 3.0% annually. Additionally, a further acquisition of a single-tenant property for $10.0 million is anticipated in January 2021. This strategic investment is predicted to enhance shareholder value.
Rexford Industrial Realty has priced a public offering of 6,000,000 shares at gross proceeds of approximately $284.4 million. The offering, set to close by December 4, 2020, includes a 30-day option for underwriters to purchase an additional 900,000 shares. Proceeds will support acquisitions, development activities, and general corporate purposes. J.P. Morgan and Goldman Sachs are the joint managing underwriters. This initiative follows the company's strategy of investing in Southern California's industrial properties, where it owns interests in 235 properties with approximately 29.5 million rentable square feet.
Rexford Industrial Realty has launched a public offering of 6,000,000 shares of its common stock, aiming to raise funds for acquisitions, development, and general corporate purposes. The underwriters will also receive an option to purchase an additional 900,000 shares. J.P. Morgan and Goldman Sachs are managing the offering, which is under an effective registration statement with the SEC. The company owns and manages various industrial properties in Southern California, totaling approximately 30.5 million rentable square feet.
Rexford Industrial Realty, Inc. (NYSE: REXR) announced the acquisition of two industrial properties in Southern California for a total of $339.2 million. The first is the Gateway Pointe Industrial Campus, a four-building complex purchased for $296.6 million, featuring nearly one million square feet of Class A space, fully leased at rents 21% below market. The second is a three-tenant property on Balboa Boulevard acquired for $42.6 million, also fully leased, with rents 19% below market. These transactions are expected to enhance Rexford's portfolio and cash flow.
FAQ
What is the current stock price of Rexford Indl Rlty (REXR)?
What is the market cap of Rexford Indl Rlty (REXR)?
