REXFORD INDUSTRIAL REALTY, INC. - REXR STOCK NEWS

Rexford Industrial Realty reported strong Q1 2021 results with net income of $24.9 million ($0.19/share), up from $10.8 million ($0.09/share) in Q1 2020. Core FFO rose 28.9% to $48.4 million ($0.37/share). NOI increased 28.1% to $76.1 million, and same property NOI grew 6.8%. The company executed 122 leases, achieving rental rates 47.1% higher than previous rents. Rexford had a low net debt-to-enterprise value of 13.0%. Guidance for net income per share was revised to $0.48-$0.51, and Core FFO was set at $1.41-$1.44.

Rexford Industrial Realty, Inc. (REXR) has acquired five industrial properties totaling 382,314 square feet for $68.8 million and sold a property for $1.5 million. The acquisitions are in Southern California's infill markets, enhancing the company's footprint in a competitive area. The acquisitions were funded through cash and 1031 exchange proceeds. The company aims to leverage value-add opportunities to improve cash flow and stabilize yields. With over $350 million in acquisitions under contract, Rexford anticipates substantial long-term shareholder value creation.

Rexford Industrial Realty, Inc. (NYSE: REXR) will announce its Q1 2021 financial results post-market on April 21, 2021. A conference call for analysts will follow on April 22, 2021, at 1:00 p.m. ET. The company, focused on industrial properties in Southern California, owns 253 properties totaling about 31.9 million rentable square feet and manages an additional 20 properties with 1.0 million rentable square feet. Investors are encouraged to participate in the call or listen via webcast.

Rexford Industrial Realty (NYSE: REXR) announced that Co-CEOs Michael Frankel and Howard Schwimmer will present at the 2021 Citi Global Property CEO Conference on March 9, 2021, at 3:30 PM ET. The Company, which focuses on industrial properties in Southern California, owns 253 properties totaling approximately 31.9 million rentable square feet and manages an additional 20 properties with around 1 million rentable square feet. An updated investor presentation will be available on its investor relations website prior to the conference.

Rexford Industrial Realty (REXR) reported its Q4 and full-year 2020 results, showing a net income of $13.2 million ($0.10/share) in Q4, down from $19.9 million ($0.18/share) in Q4 2019. However, Core FFO increased by 20.5% to $43.1 million, achieving Core FFO/share of $0.34, up 6.3%. The Stabilized Same Property Portfolio occupancy was 98.2%, with rental rates on new leases averaging 29.9% higher. The company acquired 17 properties for $874.9 million and increased its dividend by 11.6%. For 2021, the Core FFO guidance is projected at $1.40 - $1.43/share.

Rexford Industrial Realty (NYSE: REXR) announced the acquisition of five industrial properties in Southern California for a total of $72.7 million. The properties cover 176,670 square feet, a 2.5-acre outdoor storage site, and a 5.6-acre redevelopment site. The purchase was funded with cash, 1031 exchange proceeds, and debt assumption on one property. The acquisitions aim to enhance cash flow through repositioning efforts, reflecting the company's strategy to capitalize on high-demand industrial markets in the region.

Rexford Industrial Realty (NYSE: REXR) disclosed the 2020 tax treatment for its common and preferred stock dividends. The total common stock dividend for 2020 was $1.045 per share, with $0.834238 classified as ordinary dividends. Key distributions include $0.215 per share for Q1-Q4, with a portion taxable in 2020 and 2021. For preferred stock (Series A, B, and C), the total distribution was $1.468752 per share, all classified as ordinary dividends. Shareholders should consult tax advisors for personal tax treatment.

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.