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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.
Overton Moore Properties (OMP) has appointed Felix Vollrath as Senior Vice President of Acquisitions and Development to lead industrial investment activities in Southern California and Phoenix markets. Vollrath joins from Rexford Industrial Realty (NYSE: REXR), where he previously led $2 billion in industrial real estate acquisitions in Los Angeles.
Reporting to Pete Cassiano, Partner and CIO, Vollrath will be responsible for sourcing, structuring, and executing industrial investment and development opportunities for OMP's various investment strategies. Based in Torrance, CA, he brings over eight years of industrial real estate experience and holds degrees from USC and Copenhagen Business School.
["Experienced hire with proven track record of $2 billion in acquisitions", "Strategic expansion of leadership team in key Western U.S. markets", "Addition of executive with both development and investment expertise"]Rexford Industrial (NYSE: REXR) reported strong Q1 2025 financial results, with net income reaching $68.3 million ($0.30 per diluted share), up from $58.6 million in the prior year. Core FFO increased 14.1% to $141.0 million ($0.62 per diluted share).
Key highlights include:
- Consolidated Portfolio NOI grew 18.4% to $193.6 million
- Same Property Portfolio NOI increased 0.7%, with Cash NOI up 5.0%
- Executed 2.4 million square feet of leases with 23.8% higher rental rates
- Maintained strong occupancy at 95.9% for Same Property Portfolio
The company sold two properties for a combined $103.4 million, generating an 11.9% unlevered IRR. The balance sheet remains robust with $504.6 million in unrestricted cash and a low Net Debt to Enterprise Value ratio of 22.8%. The company updated its 2025 guidance with net income per share of $1.31-$1.35 and maintained Core FFO guidance of $2.37-$2.41 per share.
Rexford Industrial Realty (NYSE: REXR) announced that Chairman Richard Ziman will retire from his role and the Board of Directors following the Company's Annual Meeting of Stockholders on June 3, 2025. The Board has approved the appointment of current lead independent director Tyler Rose to serve as the new Chairman, subject to the results of the Annual Meeting.
Co-CEOs Michael Frankel and Howard Schwimmer expressed gratitude for Ziman's contributions and affirmed the company remains well positioned to unlock substantial embedded NOI growth opportunities and drive long-term shareholder value.
Rexford Industrial Realty (NYSE: REXR), a real estate investment trust specializing in Southern California infill industrial properties, has scheduled its first quarter 2025 financial results announcement. The company will release its Q1 2025 results after market close on Wednesday, April 16, 2025.
A conference call with senior management is scheduled for Thursday, April 17, 2025 at 1:00 p.m. EDT. Participants can join via phone using Conference ID 5314484: domestic callers at 1 (800) 715-9871 and international callers at 1 (646) 307-1963. A webcast and replay will be available at ir.rexfordindustrial.com.
Rexford Industrial Realty (NYSE: REXR), a REIT specializing in Southern California infill industrial properties, has announced its participation in the upcoming Citi 2025 Global Property CEO Conference. The presentation is scheduled for Monday, March 3, 2025, at 11:40 AM ET.
The company will provide a live webcast of the presentation, with a replay option available on their investor relations website. Additionally, Rexford Industrial has published an updated investor presentation on their IR website at ir.rexfordindustrial.com.
Rexford Industrial (NYSE: REXR) reported strong financial results for Q4 and full-year 2024. Net income attributable to common stockholders reached $262.9 million ($1.20 per diluted share), up from $227.4 million in 2023. The company's Core FFO grew 15.0% to $511.7 million, with Core FFO per share increasing 6.8% to $2.34.
Key operational highlights include a 17.3% increase in Portfolio NOI to $711.8 million, Same Property Portfolio NOI growth of 4.1%, and average occupancy of 96.6%. Rental rates showed significant growth, increasing 38.9% on a net effective basis. The company completed $1.5 billion in acquisitions and $44.3 million in dispositions during 2024.
Looking ahead to 2025, Rexford provided guidance projecting Net Income per share of $1.21-$1.25 and Core FFO per share of $2.37-$2.41. The company also announced a new $300 million share repurchase program and increased its quarterly dividend by 3.0% to $0.43 per share.
Rexford Industrial Realty (NYSE: REXR) has released its 2024 tax treatment details for dividend distributions across its common and preferred stock shares. For common stock, the total distribution per share for 2024 was $2.050000, with $1.556754 taxable in 2024. The distributions were primarily classified as ordinary dividends ($1.546686) with a small portion as return of capital ($0.010068).
The Series B Preferred Stock paid quarterly distributions of $0.367188 per share, totaling $1.468752 for the year, all classified as ordinary dividends. Similarly, Series C Preferred Stock distributed $0.351563 quarterly, totaling $1.406252 for the year, also fully classified as ordinary dividends.
All dividend distributions qualify for the 20% tax deduction under Section 199A of the Tax Cuts and Jobs Act.