REXFORD INDUSTRIAL REALTY, INC. - REXR STOCK NEWS

Rexford Industrial Realty announced its participation in Nareit's REITworld: 2020 Annual Conference scheduled from November 17-19, 2020. The company provides a real estate investment trust focused on investing and operating industrial properties in Southern California infill markets. As of now, Rexford owns interests in 233 properties encompassing approximately 28.0 million rentable square feet and manages an additional 20 properties with about 1.0 million rentable square feet. An updated investor presentation will be available on their investor relations website on November 16, 2020.

Rexford Industrial Realty has priced a public offering of $400 million in 2.125% senior notes due December 1, 2030, at 99.211% of their principal amount. The offering, expected to settle on November 16, 2020, is fully guaranteed by the company. Proceeds will fund acquisitions and development activities, as well as general corporate purposes. Rexford operates in Southern California's industrial property market, managing 233 properties with approximately 27.9 million rentable square feet.

Rexford Industrial Realty has received investment grade ratings from Moody's and S&P, adding to its existing rating from Fitch. Moody's assigned a Baa3 rating with a Stable outlook, while S&P assigned a BBB rating, also with a Stable outlook. These ratings reflect the strength of Rexford's industrial property portfolio in Southern California, which is characterized by high demand and low vacancy. The company aims to leverage these ratings to expand its capital access and support growth opportunities, thereby creating lasting shareholder value.

Rexford Industrial Realty (NYSE: REXR) has acquired an industrial property at 15505 & 15601 South Avalon Boulevard in Los Angeles for $15.5 million. This acquisition, funded by cash on hand, allows the company to redevelop the site by demolishing an obsolete building to construct a new 84,700 square foot facility. The low overall vacancy rate of 1.6% in the LA – South Bay submarket highlights the demand for such properties. Year-to-date, Rexford has completed $390 million in acquisitions while maintaining a low leverage balance sheet.

Rexford Industrial Realty announced its third-quarter 2020 results, reporting net income of $25.9 million, or $0.21 per diluted share, a notable increase from $9.7 million, or $0.09 per share, year-over-year. The Core FFO surged by 19.8% to $40.6 million, translating to $0.33 per share. The company's NOI rose 23.8% to $62.9 million, with portfolio occupancy reaching 98.4%. Rexford completed acquisitions of $68.7 million and raised its 2020 Core FFO guidance to $1.29 to $1.31 per diluted share, reflecting strong demand despite COVID-19 challenges.

On October 15, 2020, Rexford Industrial Realty (NYSE: REXR) announced the acquisition of two industrial properties for $27.6 million and the sale of three properties for $44.2 million, funded by cash on hand. The acquired properties include a fully leased container storage facility and a partially leased development site in Southern California. With a strong emphasis on repositioning and redevelopment, the company aims to enhance the value of these properties. Rexford maintains a low-leverage balance sheet, providing a solid foundation for future growth and shareholder value creation.

Rexford Industrial Realty, Inc. (NYSE: REXR) announced it will release its third quarter 2020 financial results on October 20, 2020, after market close. A conference call is scheduled for October 21, 2020, at 1:00 p.m. ET to discuss the results and provide a Q&A session. The company operates 233 properties totaling approximately 27.9 million rentable square feet in Southern California's infill markets, with an additional 20 properties under management, equating to 1.0 million rentable square feet.

Rexford Industrial Realty, focused on Southern California's industrial properties, announced its participation in the Bank of America Merrill Lynch 2020 Global Real Estate Conference on September 15-16, 2020. They will present on September 16 at 12:00 PM ET, with a live webcast available. As of September 12, 2020, the company reported a portfolio occupancy of 97.2%, up from 96.0%. Year-to-date acquisitions total $352.6 million, with an additional $200 million in potential investments. Recent rent collections are tracking at pre-pandemic levels, indicating strong recovery signs.

Rexford Industrial Realty (REXR) reported Q2 2020 results, revealing a net income of $0.10 per diluted share, down from $0.12 in Q2 2019. Core FFO grew 21.1% year-over-year to $38.8 million, with $0.32 per share, reflecting strong leasing activity despite COVID-19 challenges. NOI rose 25.6% to $60.9 million. The company completed acquisitions worth $76.5 million and maintained a low debt-to-enterprise value ratio of 10.5%. Guidance for 2020 remains stable, with projected net income of $0.28 to $0.31 per share.