Rexford Industrial: Highest Dividend Yield In Over A Decade From Investment Grade Industrial REIT
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Rexford Industrial (REXR) has experienced a 21% decline in stock price over the past year due to macroeconomic challenges and a slowdown in Southern California rents. The company has withdrawn its previous 3-year FFO per share CAGR guidance as market rents decrease and vacancy rates increase. Despite these challenges, REXR's dividend yield has reached 4.1%, the highest in over a decade, due to the drop in share price.
December 13, 2024 | 2:30 pm
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Rexford Industrial's stock has dropped 21% over the past year due to macroeconomic factors and a slowdown in Southern California rents. The company has withdrawn its 3-year FFO per share CAGR guidance as market conditions worsen. However, the dividend yield has increased to 4.1%, the highest in over a decade, due to the lower share price.
The decline in REXR's stock price is attributed to macroeconomic headwinds and a slowdown in Southern California rents, leading to the withdrawal of its growth guidance. The increased dividend yield is a result of the lower share price, which may attract income-focused investors but indicates underlying challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100