REXFORD INDUSTRIAL REALTY, INC. Rexford
Industrial
Realty
NYSE: REXR
www.rexfordindustrial.com
Investor Presentation
October 2021
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REXFORD
INDUSTRIAL
INVESTOR PRESENTATION
Forward Looking Statements
This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. We caution investors that any forward-looking statements presented herein are based on management's beliefs and assumptions and information currently available to management. Such statements are subject to risks, uncertainties and assumptions and may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the market value of our properties, the inability to enter into or renew leases at favorable rates, portfolio occupancy varying from our expectations, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); risks associated with the disruption of credit markets or a global economic slowdown; risks associated with the potential loss of key personnel (most importantly, members of senior management); risks associated with our failure to maintain our status as a REIT under the Internal Revenue Code
of 1986, as amended; possible adverse changes in tax and environmental laws; and potential liability for uninsured losses and environmental contamination. 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. The risks described above are not exhaustive, and additional factors could adversely affect our business and financial performance, including those discussed in our annual report on Form 10-K, for the year ended December 31, 2020, and subsequent filings with the Securities and Exchange Commission. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise.
Rexford Overview
2001 | REXR | S&P 400 |
Founded | NYSE | Member |
100% | 35.1M SF | $11.5B+ |
Infill Southern California | Owned | Entity Value1 |
FOCUSED ON VALUE CREATION
3 | 31% | 13% |
INVESTOR | ||
REXFORD | ||
INDUSTRIAL | Annual NOI CAGR | Core FFO Per Share CAGR |
PRESENTATION | ||
(2017-2021)3 | (2017-2021)3 |
WELL-POSITIONED FOR GROWTH | |
3.8x | ~$1.1B |
Net debt / Adj. EBITDA | Liquidity2 |
(as of 9/30) | (as of 9/30) |
2021 YTD
PERFORMANCE
98.5%
SP Occupancy
8.9%
SP NOI Growth (GAAP)
14.3%
SP NOI Growth (Cash)
- Based on $62.33 share price on 10/19/21, and 157,609,745 shares total shares outstanding at 9/30/2021
- Consists of $60 million in cash, $700 million available under the unsecured revolving credit facility and $381 million of equity available under a forward basis
- 2021 based on actual results as of 9/30/2021 projections for the full year
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REXFORD
INDUSTRIAL
INVESTOR PRESENTATION
Superior Shareholder Returns Accretive Internal & External Growth
445%1 | RexfordOutperforms1 | |||||
Rexford | ||||||
445% | ||||||
IndustrialPeerIndex | ||||||
305% | ||||||
Total Shareholder Return | ||||||
MSCIREIT Index | 101% | |||||
(2013-Current) | ||||||
Same Property NOI Growth (Cash)2
11.75% | ||
8.1% | 8.5% | |
5.6% | 4.9% | 5.0% |
1-Year Average | 3-Year Average 5-Year Average | ||||
REXR | Peer Average | ||||
Core FFO per Share Growth2
21.6% | ||
12.9% | 12.9% | |
10.1% | 8.0% | 8.5% |
1-Year Average 3-Year Average 5-Year Average
REXR | Peer Average | ||
Dividend per Share Growth2
14.5% | |
11.6% | 12.2% |
6.4% | 6.2% |
5.0% |
1-Year Average | 3-Year Average 5-Year Average | ||||
REXR | Peer Average | ||||
- Source: S&P daily share prices for the period 7/19/13 to 10/19/21 for peer group referenced in Footnote 2 and MSCI REIT index, an index of all publicly-traded REITs.
- Peer group includes PLD, DRE, EGP, FR, STAG and TRNO. Includes estimates for 2021 based on the following: (1) company reported cash Same Property NOI guidance for full year for all peers except TRNO who does not provide guidance. 2Q21 YTD cash Same Property NOI was used for TRNO 2021 estimate; (2) Core FFO per share Growth based on consensus estimates for peers; (3) dividend based on current quarter annualized dividend rates.
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REXFORD
INDUSTRIAL
INVESTOR PRESENTATION
The Rexford Investment Opportunity
A Superior, Highly Differentiated Strategy
Singular Focus within infill Southern California, the highest demand, strongest market
High quality, irreplaceable portfolio, exceptionally stable and diverse tenant base
Consistent, favorable cash flow growth driven by superior asset management and proprietary value creation capabilities
Disciplined, low-leverage balance sheet proven through all phases of the capital cycle
Deep ESG purpose maximizes long-term value
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Rexford Industrial Realty Inc. published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 20:32:17 UTC.
