Rexford Indl Rlty Inc Stock Price, News & Analysis

Rexford Industrial Realty (REXR) announced impressive fourth quarter and full year 2022 results, highlighting a net income of $40.7 million (or $0.22/share) for Q4, up from $34.8 million ($0.23/share) in Q4 2021. Core FFO surged by 29.8% to $90.3 million, with a 45.3% annual increase to $334.7 million. The firm achieved a consolidated NOI of $136.4 million for Q4, marking a 35.7% rise. Additionally, it maintained a robust occupancy rate of 98.0%. Rexford's growth was driven by acquiring 11 properties for $357.9 million and issuing shares totaling $388 million. Looking ahead, 2023 guidance projects Core FFO per diluted share between $2.08 and $2.12.

Rexford Industrial Realty (NYSE: REXR) has announced the 2022 tax treatment for its dividend distributions on common and preferred stocks. For common stock, a total of $1.500000 was distributed per share, with taxable ordinary dividends totaling $1.203386, of which $1.203386 are qualified dividends. The Series B Preferred Stock had a total distribution of $1.468752, all classified as ordinary dividends. The Series C Preferred Stock saw a total of $1.406252 distributed, equally classified as ordinary dividends. Shareholders are advised to consult tax advisors regarding the implications of their dividends.

Rexford Industrial Realty (REXR) reported strong operating results for Q4 and full year 2022, highlighting leasing activity of 1.3 million square feet with cash leasing spreads of 52%. The company completed $2.4 billion in acquisitions, focusing on off-market transactions. The Same Property Portfolio occupancy rate was 98.1%. The firm has a substantial pipeline, with $400 million in new investments under contract. Financially, they raised $660.3 million from equity offerings and have a solid cash position of $36.8 million as of December 31, 2022.

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.