Rexford Industrial Realty, Inc. ( (REXR) ) has released its Q1 earnings. Here is a breakdown of the information Rexford Industrial Realty, Inc. presented to its investors.
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Rexford Industrial Realty, Inc. is a real estate investment trust (REIT) that specializes in investing in and managing industrial properties across infill Southern California, a region known for its high demand and limited supply in the industrial real estate market.
In its first-quarter 2025 earnings report, Rexford Industrial Realty reported a robust financial performance, highlighted by a significant increase in net income and core funds from operations (FFO). The company also executed a substantial volume of new and renewal leases, demonstrating strong leasing activity.
Key financial metrics from the report include a net income attributable to common stockholders of $68.3 million, or $0.30 per diluted share, up from $58.6 million, or $0.27 per diluted share, in the previous year. The company’s core FFO increased by 14.1% to $141.0 million, with core FFO per diluted share rising by 6.9% to $0.62. Additionally, the company achieved a consolidated portfolio net operating income (NOI) growth of 18.4% and maintained a high average occupancy rate of 95.9%.
Strategically, Rexford Industrial completed the sale of two properties, generating an impressive unlevered internal rate of return (IRR) of 11.9%. The company also stabilized five repositioning projects, contributing to its long-term growth strategy. With a strong balance sheet and low leverage, Rexford Industrial is well-positioned to continue its growth trajectory.
Looking ahead, Rexford Industrial’s management remains optimistic about the company’s ability to drive long-term shareholder value despite macroeconomic uncertainties. The company has updated its full-year 2025 guidance, projecting continued growth in net income and core FFO, supported by its differentiated business model and strategic asset management capabilities.