8 High Growth Real Estate Stocks That Are Profitable in 2024

6. Rexford Industrial Realty, Inc. (NYSE:REXR)

5-Year Net Income Growth: 40.01%

5-Year Revenue Growth: 29.63%

TTM Net Income: $256.41 Million

Number of Hedge Fund Holders: 23

Rexford Industrial Realty, Inc. (NYSE:REXR) focuses on creating value by investing in and operating industrial properties throughout infill Southern California. The firm has been structured as a real estate investment trust. Rexford’s portfolio comprises 422 properties with approximately 49.7 million rentable square feet.

Rexford’s has an irreplaceable portfolio in the largest, most sought-after industrial property market in the US. The firm has been driving an industry-leading performance with average annual FFO per share growth (5-year) surpassing the peer average. The exclusive focus on Southern California enables outperformance with net effective leasing spreads exceeding the peer average and driving an NOI margin expansion. Thus, the firm targets an attractive market with a scarce supply and a growing tenant demand. There is virtually no threat of new competition in this high-barrier market with scarce developable land.

For the second quarter, Rexford Industrial Realty, Inc. (NYSE:REXR) reported a core FFO of $0.60 per diluted share, up 11.1% year-over-year. Net income attributable to common stockholders for the quarter was $79.8 million as compared to $51.6 million for the prior year quarter. The consolidated portfolio NOI and Cash NOI rose 20.9% and 21.7% respectively, year-over-year.

In conclusion, Rexford Industrial Realty, Inc. (NYSE:REXR) has a high-quality portfolio that is appealing to a diverse and strong tenant base. The firm’s portfolio remains insulated due to the long-term scarcity of supply in infill Southern California. Its premium infill locations are essential for serving regional consumption.