rexford industrial realty elects new chairman at annual meeting

Rexford Industrial Realty, Inc. (NYSE:REXR), a real estate investment trust based in Los Angeles with a market capitalization of $8.6 billion, held its Annual Meeting of Stockholders today. According to InvestingPro data, the company maintains a "GOOD" overall financial health score and has delivered an impressive 18% revenue growth over the last twelve months. The company reported the results of several key votes, as outlined in a recent SEC filing.

During the meeting, stockholders voted on the election of directors, ratification of the appointment of an independent auditor, and an advisory resolution on executive compensation. All proposals were approved. For investors seeking deeper insights into Rexford’s governance and financial metrics, a comprehensive Pro Research Report is available on InvestingPro, covering detailed analysis of 1,400+ top US stocks.

Proposal 1 involved the election of directors to serve until the 2026 Annual Meeting. The nominees included Robert L. Antin, Michael S. Frankel, Diana J. Ingram, Angela L. Kleiman, Debra L. Morris, Tyler H. Rose, and Howard Schwimmer. Each nominee received a majority of votes in favor, with varying levels of opposition and abstentions.

Proposal 2, which sought the ratification of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was approved with 212,956,198 votes in favor, 5,949,877 against, and 64,193 abstentions.

Proposal 3, an advisory resolution to approve the compensation of the company’s named executive officers for the year ending December 31, 2024, also passed. The resolution received 185,057,412 votes in favor, 29,480,709 against, and 87,856 abstentions.

Additionally, the company announced that Tyler H. Rose, the current lead independent director, has been appointed as the new Chairman of the Board. This follows the retirement of Richard Ziman, who stepped down as Chairman and from the Board at the conclusion of the meeting. Under its current leadership, Rexford has maintained a strong dividend track record, with InvestingPro data showing 12 consecutive years of dividend increases and a current yield of 4.8%. Mr. Rose, who has been an independent director since February 2015, will not be replaced in his former role as lead independent director. His compensation will align with the company’s non-employee director compensation program.

Mr. Rose brings over 30 years of real estate industry experience to his new role. He is currently the President and CFO of IQHQ, Inc., and has held significant positions at Kilroy Realty (NYSE:KRC) Corporation and Irvine Apartment Communities, among others. The company trades at a P/E ratio of 29x and has demonstrated strong profitability, with a gross profit margin of 78% in the last twelve months.

This information is based on a press release statement filed with the Securities and Exchange Commission.

In other recent news, Rexford Industrial Realty reported its first-quarter 2025 earnings, surpassing analyst expectations with an EPS of $0.30, compared to the forecasted $0.27. The company’s revenue also exceeded projections, reaching $252.29 million against an expected $244.36 million. Additionally, Rexford Industrial Realty has entered into a $1.95 billion credit agreement, which includes a $1.25 billion revolving credit facility and a $700 million term loan facility. The agreement features sustainability-linked pricing adjustments and is not secured by the company’s properties or equity interests.

The company also reported robust leasing activity for the second quarter of 2025, executing leases totaling 1.2 million square feet with notable increases in rental rates. Evercore ISI analysts adjusted their financial outlook for Rexford, lowering the stock target to $40 from $43 while maintaining an Outperform rating. The adjustment was influenced by updated assumptions regarding renewal rates and market rent growth.

Rexford has also been active in transactions, selling a multi-tenant industrial building for $31 million and having additional dispositions under contract. The company’s strategic focus remains on value creation and asset management in the high-demand Southern California market.

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