Rexford Indl Rlty Inc Stock Price, News & Analysis

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.

Rexford Industrial Realty, Inc. (NYSE: REXR) has received credit rating upgrades from Moody's and S&P Global Ratings. Moody's upgraded its issuer rating to Baa2 from Baa3, while S&P raised it to BBB+ from BBB, both maintaining a stable outlook. The upgrades reflect Rexford's strong business model and its focus on the high-demand industrial market of Southern California. The company's portfolio includes 336 properties and approximately 41.0 million rentable square feet. CFO Laura Clark stated that the upgrades position Rexford for continued growth and value creation for shareholders.

Rexford Industrial Realty reported financial results for Q2 2022, highlighting net income of $36.1 million ($0.22 per share), up from $20.6 million ($0.15 per share) YoY. Core FFO surged to $81.7 million, marking a 54.7% increase, with Core FFO per share at $0.49, up 25.6%. The company acquired 18 properties for $598.9 million, achieving a portfolio NOI of $113.6 million (up 42.5%). With 99.1% occupancy in the Same Property Portfolio and strong leasing activity, Rexford remains well-positioned, holding a low net debt-to-enterprise value ratio of 13.5%. Updated 2022 guidance indicates a positive outlook for growth.

Rexford Industrial Realty (REXR) has acquired seven industrial properties for $661 million in prime Southern California locations. The year-to-date investments total $1.6 billion, aimed at capitalizing on the high demand and low vacancy in the area. Noteworthy acquisitions include a 1,057,419 square foot complex in Eastvale for $470 million and several strategically positioned buildings with potential for above-market returns. The company's low-leverage position and additional $500 million in future investments are expected to drive substantial cash flow growth.