Rexford Industrial Realty targets the valuable industrial market in Southern California, providing a 4.2% dividend yield and trading at a P/FFO of 17 times. The market is favorable due to a good balance between supply and demand, as new supply has decreased because of higher interest rates, which helps boost leasing spreads and net operating income (NOI) growth. The company's growth plan focuses on organic capital expenditures, maintaining a 72% FFO payout ratio, low debt levels, and a strong BBB+ rated balance sheet.
Rexford Industrial (REXR -0.57%) and W.P. Carey (WPC -0.31%) operate in different areas within the real estate investment trust (REIT) market.
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Rexford Industrial Realty, Inc. (NYSE:REXR) will hold its Q4 2024 Earnings Conference Call on February 6, 2025, at 1:00 PM ET. The call will feature company representatives including Mikayla Lynch, Howard Schwimmer, Michael Frankel, Laura Clark, and Mike Fitzmaurice. Various analysts from firms like J.P. Morgan, Wells Fargo, and Bank of America will also participate in the call.
We had earlier given Rexford Industrial Realty, Inc. a HOLD rating with a buy price set at $42. Since that time, the stock has decreased in value, especially after the Q4-2024 results were announced. We will discuss the figures and explain our approach to the situation.
While the revenue and earnings per share (EPS) for Rexford Industrial (REXR) provide insight into its performance for the quarter ending December 2024, it could be helpful to look at how these important figures stack up against Wall Street predictions and last year's results.
Rexford Industrial (REXR) reported quarterly funds from operations (FFO) of $0.58 per share, matching the Zacks Consensus Estimate. This is an increase from the FFO of $0.56 per share from the same time last year.
LOS ANGELES, Jan. 21, 2025 /PRNewswire/ -- Rexford Industrial Realty, Inc. (referred to as "the Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust that aims to generate value by investing in and managing industrial properties in Southern California, has announced the tax treatment for its common and preferred stock dividends for 2024. Shareholders should speak with their own tax advisors to understand how these dividend distributions will affect their individual tax situations.
Rexford Industrial is a strong industrial REIT with a BBB+ rating, low debt, and good potential for growth when priced under $43 per share. Even though the share price has recently dropped, I decided to increase my investment by 30% because I believe it's a great opportunity in Southern California's strong market. While REXR's growth might slow down, its solid assets and fundamentals support a "Buy" recommendation, even at a price of 21.7 times P/AFFO.