StockNews.AI
REXR
StockNews.AI
26 days

Rexford Industrial Reports No Impacts to Business from the Wildfires in Los Angeles County

1. REXR's properties remain unscathed by Los Angeles wildfires. 2. Company expects no adverse effects on financial performance from wildfires. 3. Rexford emphasizes support for employees and local communities during recovery efforts. 4. The company operates in a high-demand industrial market in Southern California. 5. Rexford manages 424 properties with a stable tenant base.

5 mins saved
Full Article

FAQ

Why Bullish?

REXR's resilience during wildfires suggests solid operational stability, akin to past market recoveries.

How important is it?

The article indicates strong operational health amidst external challenges, influencing investor confidence.

Why Short Term?

Immediate positive sentiment due to effective crisis management; impacts could stabilize performance quickly.

Related Companies

REXR
LOS ANGELES, Jan. 10, 2025 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties located throughout infill Southern California, today reports no damage to its properties and does not anticipate unfavorable impacts to the Company's operating results or financial condition due to the wildfires in Los Angeles County. "Our hearts go out to all affected by these devastating wildfires," stated Michael Frankel and Howard Schwimmer, Co-Chief Executive Officers of the Company. "We are prioritizing the care of our employees, their family members and the larger community and are fortunate all members of the Rexford family are safe. At the same time, we are committed to supporting our local communities as recovery and rebuilding efforts begin." About Rexford IndustrialRexford Industrial creates value by investing in, operating and redeveloping industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest demand, lowest supply market in the nation. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. Rexford Industrial's high-quality, irreplaceable portfolio comprises 424 properties with approximately 50.5 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit www.rexfordindustrial.com. Forward-Looking StatementsThis press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2023. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Contact: [email protected] SOURCE Rexford Industrial Realty, Inc.

Related News