REXFORD INDUSTRIAL REALTY, INC. - REXR STOCK NEWS

Rexford Industrial Realty (NYSE: REXR) has announced the pricing of a public offering of 9,000,000 shares of its common stock, expected to generate approximately $500.4 million in gross proceeds. The offering involves forward sale agreements with J.P. Morgan and BofA Securities, allowing the company to use proceeds for future acquisitions and general corporate purposes. While Rexford will not initially receive the funds from the sale, they plan to contribute any cash proceeds from the eventual settlement of the agreements to their operating partnership.

Rexford Industrial Realty has initiated a public offering of 9,000,000 shares of its common stock. This offering is backed by forward sale agreements with J.P. Morgan and BofA Securities. The shares will be sold at market prices through various transaction methods. The company will not receive immediate proceeds from this offering; however, it plans to use future cash proceeds for acquisitions, redevelopment, and other corporate purposes. Currently, Rexford manages 259 properties in Southern California, totaling approximately 32.2 million rentable square feet.

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.