REXFORD INDUSTRIAL REALTY, INC. - REXR STOCK NEWS

Rexford Industrial Realty reported robust first quarter 2023 results, showcasing a net income of $57.9 million, or $0.30 per diluted share, up from $43.9 million and $0.27 in the prior year period. The Company's share of Core FFO reached $102.7 million, a significant 34.0% increase year-over-year, with Core FFO per diluted share rising 8.3% to $0.52. Consolidated Portfolio NOI saw a 32.8% increase to $142.3 million, while Same Property Portfolio NOI grew by 7.3%. The Company maintained a strong portfolio occupancy rate of 98.0%.

Additionally, Rexford Industrial completed acquisitions totaling $804.3 million year-to-date, primarily through off-market transactions. The updated 2023 guidance for Core FFO per diluted share is now $2.11 - $2.15, reflecting confidence in continued growth.

On April 14, 2023, Rexford Industrial Realty (NYSE: REXR) declared a quarterly cash dividend of $0.38 per share for the second quarter of 2023. This dividend is payable on July 17, 2023, to common stockholders of record as of June 30, 2023. Additionally, dividends of $0.367188 per share for Series B Cumulative Redeemable Preferred Stock and $0.351563 per share for Series C Cumulative Redeemable Preferred Stock will be paid on June 30, 2023, to preferred stockholders of record by June 15, 2023. Rexford Industrial operates within Southern California's highly competitive industrial market, possessing a portfolio of 362 properties with approximately 44.0 million rentable square feet.

Rexford Industrial Realty, Inc. (NYSE: REXR) has announced three industrial property acquisitions totaling $357.2 million in prime Southern California locations, alongside the sale of a property for $17.0 million. With year-to-date investments reaching $762 million, the company's strategy focuses on leveraging high-demand infill markets. Key acquisitions include an R&D office building in Torrance, an industrial site near LAX, and a potential distribution hub in San Diego. The company maintains a strong balance sheet and continues to pursue additional investments, with a pipeline exceeding $125 million.

Rexford Industrial Realty has announced a public offering of $300 million in senior notes due June 15, 2028, with a 5.000% interest rate, priced at 98.975%. The offering will close on March 30, 2023, contingent on standard conditions. Proceeds will support general management activities, including acquisitions and debt repayment. The Company, which operates in Southern California's industrial real estate market, manages 358 properties totaling 43.6 million rentable square feet. Rexford Industrial is a member of the S&P MidCap 400 Index and trades under the ticker REXR.

Rexford Industrial Realty (NYSE: REXR) has announced its schedule for the release of first quarter 2023 financial results, set for April 19, 2023. The company will hold a conference call on April 20, 2023, at 1:00 PM ET, allowing investors to participate via designated dial-in numbers. Rexford Industrial focuses on investing in and operating industrial properties in Southern California, known for high demand and low supply. The company's portfolio consists of 358 properties, amounting to approximately 43.6 million rentable square feet, underlining its strong market position. Visit their website for more details.

Rexford Industrial Realty, a real estate investment trust (REIT) listed on NYSE under the symbol REXR, announced its participation in the Citi 2023 Global Property CEO Conference on March 6, 2023, at 9:15 am ET. The live presentation will be accessible via a webcast, with a replay available on their investor relations website. Focusing on Southern California's industrial real estate market, Rexford boasts a portfolio of 358 properties totaling approximately 43.6 million rentable square feet. The company aims for continued growth through innovative asset management and value creation strategies.

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.