- There has been a spate of issuance of preferred stocks by REITs.
- In order to understand the attractiveness of an issue, an investor must have context.
- The goal of this note is to provide an overview of the equity REIT preferred market.
Rexford has very desirable properties and locations, a conservative balance sheet and e-commerce focused tenants, all characteristics that should continue to drive performance. While the new preferred is not the highest yield in the group, it is worth considering for income focused portfolios.