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The latest update is out from Rexford Industrial Realty ( (REXR) ).
Rexford Industrial Realty’s third quarter of 2024 showcased robust financial growth with a net income of $65.1 million, up from $56.3 million the previous year. The company’s Core FFO increased by 13.1% to $130.0 million, and its consolidated portfolio NOI rose by 17.6%. Strong leasing activity in Southern California saw rental rates soar by 39.2% on a GAAP basis. Rexford’s strategic acquisitions and sales further solidified its position, with a low leverage ratio enhancing its financial stability. The company’s future outlook remains optimistic, driven by favorable market dynamics and strategic investments.
For a thorough assessment of REXR stock, go to TipRanks’ Stock Analysis page.
