Rexford Industrial Q2 Core FFO up 55% to $81.7M; raises full-year guidance

Rexford Industrial Realty, Inc.

2022-Q2 EPS reported $0.49 revenue$289,870,000

Net income $36.1M ($0.22 diluted EPS); Core FFO $81.7M ($0.49 per share), up 54.7% YoY.
Consolidated Portfolio NOI $113.6M (+42.5%); Same Property Cash NOI +10.1% with 99.1% avg occupancy.
Acquired 18 properties for $598.9M in Q2; year-to-date total $1.6B; additional $587M post-quarter.
Raised full-year Core FFO guidance to $1.87-$1.90 per share; Same Property NOI growth forecast 5.75%-6.25%.
Declared Q3 dividend $0.315/share, payable Oct 15, 2022; net debt/EV 13.5%.

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