Rexford Industrial Q1 Core FFO up 11.5% to $0.58/diluted share; raises 2024 guidance

Rexford Industrial Realty, Inc.

2024-Q1 EPS reported $0.27 revenue$214,096,000

Net income attributable to common stockholders $58.6M ($0.27/diluted) vs $57.9M ($0.30) prior year; prior year included $12.1M gains on sale.
Company share of Core FFO $123.5M (+20.3% YoY); Core FFO per diluted share $0.58 (+11.5% YoY).
Same Property Portfolio NOI +5.5% (GAAP) and +8.5% (cash); avg occupancy 96.8%.
Completed $1.1B in acquisitions (3.2M sq ft); issued $1.15B exchangeable notes; dividend declared $0.4175/share for Q2 2024.
Updated 2024 guidance: Core FFO $2.31-$2.34 per diluted share (up from $2.27-$2.30); Same Property NOI growth GAAP 4.25%-5.25%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Rexford Industrial Realty, Inc. reported the first quarter of 2024 results: net income $58.6 million, EPS $0.27 per diluted share.

Period: the first quarter of 2024
Net income: $58.6 million
EPS: $0.27 per diluted share
Result: reported results

Exact text from the filing

Rexford Industrial Announces First Quarter 2024 Financial Results

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Rexford Industrial Realty, Inc. filing history →

Source: SEC EDGAR

accession 0001571283-24-000019

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