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Sep 30, 2020
Rexford Industrial Q3 2020 Earnings Report
Announced financial results for the third quarter of 2020.
Key Takeaways
Rexford Industrial Realty reported a net income attributable to common stockholders of $25.9 million, or $0.21 per diluted share, for the third quarter of 2020. Company share of Core FFO was $40.6 million, or $0.33 per diluted share. Consolidated Portfolio Net Operating Income (NOI) was $62.9 million, and Consolidated Portfolio Cash NOI was $57.1 million. Stabilized Same Property Portfolio occupancy at quarter end was 98.4%.
Net income attributable to common stockholders of $25.9 million, or $0.21 per diluted share.
Company share of Core FFO of $40.6 million, an increase of 19.8% as compared to the third quarter 2019.
Consolidated Portfolio Net Operating Income (NOI) of $62.9 million, an increase of 23.8% as compared to the third quarter 2019.
Stabilized Same Property Portfolio occupancy at quarter end of 98.4%.
Revenue by Segment
Forward Guidance
The Company is increasing its full year 2020 guidance as follows: Net income attributable to common stockholders within a range of $0.46 to $0.48 per diluted share; Company share of Core FFO within a range of $1.29 to $1.31 per diluted share; Year-end Stabilized Same Property Portfolio occupancy within a range of 97.5% to 98.0%; Stabilized Same Property Portfolio NOI growth for the year within a range of 3.0% to 3.5%; General and administrative expenses within a range of $36.5 million to $37.0 million.
Positive Outlook
- Net income attributable to common stockholders within a range of $0.46 to $0.48 per diluted share
- Company share of Core FFO within a range of $1.29 to $1.31 per diluted share
- Year-end Stabilized Same Property Portfolio occupancy within a range of 97.5% to 98.0%
- Stabilized Same Property Portfolio NOI growth for the year within a range of 3.0% to 3.5%
- General and administrative expenses within a range of $36.5 million to $37.0 million
Revenue & Expenses
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Avg. Return Before/After Earnings
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