Rexford Indl Rlty Inc Stock Price, News & Analysis

Rexford Industrial Realty has announced the acquisition of ten industrial properties in Southern California for $336.2 million, enhancing its portfolio by 15% to 42.4 million square feet. The acquisitions were funded with cash and forward equity settlements. The company reported $2.4 billion in acquisitions for 2022, highlighting its capacity for creating above-market value. The acquired properties are located in high-demand submarkets, with projected unlevered cash yields ranging from 2.2% to 5.6%. Rexford plans further investments worth $400 million.

Rexford Industrial Realty, Inc. (NYSE: REXR) will release its fourth quarter and full year 2022 financial results on February 8, 2023, after market close. A conference call with management is scheduled for February 9, 2023, at 1:00 p.m. Eastern Time. Investors can join the call via dedicated dial-in numbers or listen online at ir.rexfordindustrial.com. The Company operates in Southern California’s industrial market, managing 346 properties totaling approximately 41.8 million rentable square feet.

Rexford Industrial Realty (NYSE: REXR) announced the pricing of an underwritten public offering of 11,500,000 shares at $56.00 each. The offering, set to close on November 15, 2022, involves forward sale agreements with major financial institutions including Goldman Sachs and BofA Securities. The proceeds will be used for acquisitions, debt repayment, and general corporate purposes. The underwriters also hold a 30-day option to purchase up to 1,725,000 additional shares. The Company does not receive proceeds from the forward purchasers as they are selling borrowed shares.

Rexford Industrial Realty, Inc. (NYSE: REXR) has initiated a public offering of 11,500,000 shares of its common stock, led by Goldman Sachs, BofA Securities, J.P. Morgan, and Mizuho. The offering is structured through forward sale agreements, allowing Rexford to settle cash proceeds without receiving immediate funds from share sales. The company plans to utilize the proceeds for acquisitions, debt repayment, and general corporate purposes. Additionally, the underwriters have a 30-day option to purchase up to 1,725,000 additional shares.

Rexford Industrial Realty has published an updated investor presentation ahead of upcoming investor meetings. The Company focuses on industrial properties in Southern California, which is a high-demand, low-supply market. Rexford owns 346 properties with around 41.8 million rentable square feet and a diverse tenant base. The Company is a member of the S&P MidCap 400 Index and trades under the ticker REXR. Investors can access the presentation via the Company's investor relations website for insights into their growth strategies and market conditions.

Rexford Industrial Realty reported strong Q3 2022 results, with net income of $36.8 million ($0.21/share) up from $31.5 million ($0.23/share) YoY. Core FFO surged 44.5% to $86.1 million, with a 16.3% rise in per share metrics. NOI increased 40.1% to $123 million. The company maintained a 98.6% average occupancy rate and executed 1.7 million square feet of leasing at impressive spreads of 88.6% (GAAP). Acquisitions reached $977.5 million, bolstering its balance sheet with a net debt-to-enterprise value ratio of 15.9%. The firm upgraded its guidance for net income and Core FFO for 2022.

Rexford Industrial Realty, Inc. (NYSE: REXR) will release its third quarter 2022 financial results after the market closes on October 19, 2022. A conference call is scheduled for October 20, 2022, at 1:00 PM ET. The company focuses on investing in and operating industrial properties in Southern California's infill markets, boasting a portfolio of 344 properties and approximately 41.6 million rentable square feet. Rexford is a member of the S&P MidCap 400 Index.

Rexford Industrial Realty, a real estate investment trust listed on NYSE under the ticker REXR, announced its participation in the Bank of America Securities 2022 Global Real Estate Conference on September 14, 2022, at 2:10 PM ET. The Company will provide a live webcast of the event, with a replay available until December 14, 2022. An updated investor presentation featuring quarter-to-date operating results is now accessible on Rexford Industrial's investor relations website.

Rexford Industrial Realty announced the acquisition of seven industrial properties in Southern California for approximately $339 million. This investment is part of the company's strategy to leverage its expertise in value-add industrial properties and capitalize on off-market opportunities. Year-to-date, Rexford has made investments totaling $2 billion, with a pipeline of an additional $200 million. The properties, located in prime submarkets, are expected to generate stabilized cash yields between 2.4% and 5.5%. The acquisitions enhance Rexford's portfolio of 344 properties totaling 41.6 million square feet.