Rexford Industrial Realty (REXR) Reports In-Line Q1 EPS

Rexford Industrial Realty (NYSE: REXR) reported Q1 EPS of $0.09, in-line with the analyst estimate of $0.09.

First Quarter 2020 Financial and Operational Highlights:

• Net income attributable to common stockholders of $0.09 per diluted share compared to $0.08 per diluted share for the first quarter of last year.
• Company share of Core FFO increased 27.6% to $37.5 million year-over-year.
• Company share of Core FFO per diluted share increased 10.0% to $0.33 per diluted share year-over-year.
• Consolidated Portfolio Net Operating Income (NOI) of $59.4 million, an increase of 29.7% year-over-year.
• Consolidated Portfolio Cash NOI of $55.3 million, representing an increase of 31.8% year-over-year.
• Stabilized Same Property Portfolio GAAP and Cash NOI increased 3.7% and 7.5%, respectively, year-over-year.
• Comparable rental rates on 1,594,358 rentable square feet of new and renewal leases were 36.6% higher than prior rents on a GAAP basis and 24.4% higher on a cash basis.
• Acquired 10 industrial properties for an aggregate purchase price of $203.2 million.

For earnings history and earnings-related data on Rexford Industrial Realty (REXR) click here.

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