Rexford Industrial (REXR) has been on our radar for the last year. The main strengths are:
- Outstanding property quality in a fragmented market.
- An edge in evaluating physical real estate and sourcing deals.
- Exceptional balance sheet, prepared for growth.
- Strong management team.
- Shares frequently trade over NAV, enabling accretive growth.
The downsides are:
- Investors need to accept a high price to FFO multiple and low dividend yield.
- Investors need to be ready to pay a premium to NAV to open positions.
Index Card for REXR
The quick stats are summed up in the