Rexford Industrial Q4 2019 Earnings Report
Key Takeaways
Rexford Industrial Realty, Inc. announced strong fourth quarter and full year 2019 financial results, with net income attributable to common stockholders of $19.9 million, or $0.18 per diluted share, for the three months ended December 31, 2019. Company share of Core FFO increased 31.4% to $35.8 million year-over-year.
Net income attributable to common stockholders of $0.18 per diluted share compared to $0.13 per diluted share for the fourth quarter of last year.
Company share of Core FFO increased 31.4% to $35.8 million year-over-year.
Company share of Core FFO per diluted share increased 10.3% to $0.32 per diluted share year-over-year.
Comparable rental rates on 1,461,431 rentable square feet of new and renewal leases were 42.0% higher than prior rents on a GAAP basis and 27.1% higher on a cash basis.
Rexford Industrial
Rexford Industrial
Rexford Industrial Revenue by Segment
Forward Guidance
The Company is introducing its full year 2020 guidance as follows: Net income attributable to common stockholders within a range of $0.37 to $0.39 per diluted share Company share of Core FFO within a range of $1.30 to $1.32 per diluted share Year-end Stabilized Same Property Portfolio occupancy within a range of 96.0% to 97.0% Stabilized Same Property Portfolio NOI growth for the year within a range of 3.7% to 4.2% General and administrative expenses within a range of $36.5 million to $37.0 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income