Rexford Industrial Realty: Leaning Bullish On This Industrial REIT

BeanKounter Capital
5.24K Followers

Summary

  • Rexford is an industrial REIT focused exclusively on the Southern California market.
  • Their market has several tailwinds that should allow Rexford to grow rapidly in coming years.
  • The valuation is rich (for good reason) at a price/FFO of 30.9x.
  • The dividend yields 2.5%, and the dividend growth has actually accelerated in the last couple years.
  • I'm leaning bullish on Rexford and I'm hoping to buy shares on any meaningful dip in share price.

Warehouse distribution

Marcus Lindstrom

In 2022 I started buying shares of REITs in sectors that were out of favor, including cell towers, industrial REITs, and self-storage REITs. These three sectors were perennial outperformers in prior years as they continued to see impressive growth in FFO/share

This article was written by

5.24K Followers
You can find me on Substack at Kontrarian Korner: CPA and former Big 4 auditor. I break down investments in qualitative and quantitative terms, and I look for investments that will compound my money over the long term.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of TRNO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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