Rexford Industrial Realty Reports Strong 2024 Results

Rexford Industrial Realty, Inc. ( (REXR) ) has released its Q4 earnings. Here is a breakdown of the information Rexford Industrial Realty, Inc. presented to its investors.

Rexford Industrial Realty, Inc. is a real estate investment trust (REIT) specializing in the acquisition, operation, and redevelopment of industrial properties primarily located in infill Southern California, a key market characterized by high demand and limited supply. The company is listed on the New York Stock Exchange under the ticker ‘REXR’ and is a part of the S&P MidCap 400 Index.

In its latest earnings report, Rexford Industrial Realty, Inc. announced significant financial growth for the fourth quarter and full year of 2024. The company reported a net income attributable to common stockholders of $262.9 million and a notable increase in Core Funds From Operations (Core FFO) by 15% to $511.7 million. The company also declared a quarterly dividend increase and authorized a $300 million share repurchase program.

Key performance metrics for Rexford Industrial include a 17.3% increase in consolidated portfolio net operating income (NOI) and a 38.9% rise in comparable rental rates on a net effective basis. The company successfully completed nine acquisitions valued at $1.5 billion and reported a high average occupancy rate of 96.6% for its Same Property Portfolio. Additionally, the company’s balance sheet reflects a low-leverage position with a net debt-to-enterprise value ratio of 26.5%.

Looking ahead, Rexford Industrial’s management remains focused on leveraging its embedded NOI growth opportunities to sustain long-term earnings growth. The company’s 2025 guidance suggests modest increases in net income and Core FFO per diluted share, with a continued emphasis on maintaining high occupancy rates and strategic portfolio management.