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REXR raises 2024 asset sales target to $2B, starts $1B buyback amid tough SoCal industrial market.

Market News
25 Aug 2026
Seeking Alpha
View Source
Bullish
pluang ai news

Rexford Industrial (REXR) is responding to challenges in the Southern California industrial real estate market by increasing its 2024 asset disposition goal to $2 billion and initiating a $1 billion share repurchase program. Despite reporting GAAP losses from asset sales, REXR maintains stable cash flow and conservative debt levels, focusing on debt repayment and equity buybacks rather than growth. Operationally, the company faces softness with only 1.5% same-property NOI growth in Q2 and a slightly negative NOI expected for the full year. However, positive occupancy trends and long-term supply factors provide some support for the outlook.

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