Rexford Industrial Realty Inc

REXR

Equity

ISIN US76169C1009 / Valor 21505836

New York Stock Exchange, Inc (2024-12-26)

USD 39.06+1.01%

Rexford Industrial Realty Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Rexford Industrial Realty Inc is a real estate investment trust (REIT) that specializes in acquiring, owning, and operating industrial properties in Southern California. They focus on acquiring and managing industrial properties in infill locations that are in high demand by tenants.

Summarized from source with an LLMView SourceSector: Finance

Net Income Growth

Rexford Industrial Realty Inc. reported a net income attributable to common stockholders of $65.1 million for the third quarter of 2024, translating to $0.30 per diluted share. This marks an increase from the $56.3 million, or $0.27 per diluted share, reported in the same quarter of the previous year.

Core FFO Increase

For the third quarter of 2024, Rexford Industrial Realty Inc. achieved a company share of Core Funds From Operations (FFO) of $130.0 million, reflecting a 13.1% increase compared to the prior year quarter. The Core FFO per diluted share rose by 5.4% to $0.59.

NOI Performance

Rexford Industrial Realty Inc.'s consolidated portfolio Net Operating Income (NOI) for the third quarter of 2024 was $183.5 million, representing a 17.6% increase from the previous year. The Same Property Portfolio NOI saw a 2.6% increase, while the Same Property Portfolio Cash NOI increased by 5.3%.

Leasing Activity

During the third quarter of 2024, Rexford Industrial Realty Inc. executed 108 leases covering 1.6 million rentable square feet. The company achieved a 39.2% increase in comparable rental rates on a GAAP basis and a 26.7% increase on a cash basis.

Acquisitions and Sales

In the third quarter of 2024, Rexford Industrial Realty Inc. completed two acquisitions totaling $60.5 million and sold one property for $7.3 million. The acquisitions included properties in the Los Angeles — South Bay and Mid Counties submarkets, while the sale was in the Los Angeles — Central submarket.

Summarized from source with an LLMView Source

Key figures

-31.1%1Y

-49.6%3Y

-13.2%5Y

Performance

26.1%1Y

28.2%3Y

31.8%5Y

Volatility