- REITs continue to tap the preferred market, receiving attractive rates.
- Larger deal sizes can also be done by certain issuers - today’s issue was 12 million shares, or $300 million.
- Our thoughts on the new preferred stock.
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.