earnings
confidence high
sentiment positive
materiality 0.75
Rexford Q3 net income falls to $14.6M; raises 2026 Core FFO guidance to $2.41-$2.44
Rexford Industrial Realty, Inc.
- Q3 net income attributable to common stockholders $14.6M, or $0.07/diluted share, vs $87.1M and $0.37 a year earlier; includes $71.8M impairments and $23.2M gains on sales.
- Core FFO $0.60/share flat YoY; Same Property Cash NOI -1.1% and NOI -2.6%; ending occupancy 96.9%, up 200 bps from June 30.
- Raised 2026 Core FFO guidance to $2.41-$2.44 from $2.38-$2.43; Same Property Cash NOI growth now 0.25%-0.75% vs prior -0.75%-0.25%.
- Sold 25 properties for $1.3B in Q3, including a 22-property $1.2B portfolio; YTD dispositions $1.5B. Repurchased 10.9M shares for $408.7M at $37.59 average.
- Repaid $485M debt, cutting Net Debt/Adjusted EBITDAre to 3.8x from 4.5x; Q4 dividend $0.435/share payable Jan 15, 2027, record Dec 31, 2026.