From Seekingalpha · Atlas Diary · · 50s
Rexford Industrial Balance Sheet Strengthens
Rexford Industrial's balance sheet improved through asset sales and debt reduction, but rent growth remains weak.
In brief
Rexford Industrial's balance sheet improved through asset sales and debt reduction, but rent growth remains weak. Rexford Industrial Realty's balance sheet strengthened via asset sales and debt reduction, but rent growth lags behind expectations. Originally reported by Seekingalpha.
Balance Sheet Strengthens
Rexford Industrial Realty has improved its balance sheet through asset sales, debt reduction, and share buybacks.
Operational Recovery Lags
Rexford Industrial's operational recovery and rent growth remain modest despite balance sheet improvements.
Dividend Yield at 4.4%
The dividend yield is 4.4%, but AFFO coverage is tight, leaving minimal margin for growth or buybacks.
Target Price $39.25
Rexford Industrial is rated HOLD at $39.25 with a base NAV of $42.66 and weighted target of $42.18.
In short
Rexford Industrial Realty's balance sheet strengthened via asset sales and debt reduction, but rent growth lags behind expectations.
