Rexford Industrial Q2 Core FFO $0.54 (+10%); raises 2023 guidance

Rexford Industrial Realty, Inc.

2023-Q2 EPS reported $0.55 revenue$382,002,000

Net income $51.6M ($0.26/sh) vs $36.1M ($0.22/sh) YoY.
Core FFO $108.4M (+32.8%) or $0.54/sh (+10.2%).
Same Property NOI +8.0%, Cash NOI +10.0%; leasing spreads GAAP +96.8%, cash +74.8%.
Acquisitions $142.7M; equity offering $750.6M; net debt/EV 16%.
Updated 2023 Core FFO guidance to $2.13-$2.16/sh; Q3 dividend $0.38/sh.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rexford Industrial Realty, Inc. reported the six months ended June 30, 2023 results: net income $109.4 million, EPS $0.55 per diluted share.

Period: the six months ended June 30, 2023
Net income: $109.4 million
EPS: $0.55 per diluted share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, net income attributable to common stockholders was $109.4 million, or $0.55 per diluted share, compared to $80.0 million, or $0.49 per diluted share for the prior year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rexford Industrial Realty, Inc. reported the second quarter of 2023 results: net income $51.6 million, EPS $0.26 per diluted share.

Period: the second quarter of 2023
Net income: $51.6 million
EPS: $0.26 per diluted share
Result: reported results

Exact text from the filing

Rexford Industrial Announces Second Quarter 2023 Financial Results Los Angeles, California - July 19, 2023 - Rexford Industrial Realty, Inc. (the “Company” or “Rexford Industrial”) (NYSE: REXR), a real estate investment trust (“REIT”) focused on creating value by investing in and operating industrial properties within Southern California infill markets, today announced financial and operating results for the second quarter of 2023. Second Quarter 2023 Financial and Operational Highlights: • Net income attributable to common stockholders of $51.6 million, or $0.26 per diluted share, as compared to $36.1 million, or $0.22 per diluted share, for the prior year quarter.

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Rexford Industrial Realty, Inc. filing history →

Source: SEC EDGAR

accession 0001571283-23-000031

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