secwatch.observer — SEC 8-K summary
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Issuer:     Rexford Industrial Realty, Inc. (REXR)
CIK:        0001571283
Form:       8-K
Filed at:   2024-07-17T23:59:59+00:00
Accession:  0001571283-24-000031
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rexford Industrial Q2 net income $79.8M ($0.37); Core FFO $0.60 (+11% YoY); raises full-year guidance
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- Net income $79.8M ($0.37 dil.) vs $51.6M ($0.26) in Q2 2023; Core FFO $129.6M, up 19.5% YoY.
- Consolidated Portfolio NOI $181.1M (+20.9%); Same Property NOI +6.0% GAAP, +9.1% cash.
- Occ. 96.9%; rental spreads +67.7% GAAP, +49.0% cash on 2.3M sf leased.
- Bought three assets for $169.5M at 5.8% initial yield; sold four for $37.0M; net debt/EV 24.1%.
- Full-year Core FFO guidance raised to $2.32-$2.34 (from $2.31-$2.34); Q3 common dividend $0.4175/share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1571283/000157128324000031/0001571283-24-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1571283/000157128324000031/rexr-20240717.htm
  HTML page:      https://secwatch.observer/filing/0001571283-24-000031

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