Rexford Industrial reports Q3 core FFO 60c, consensus 59c

Reports Q3 revenue $253.2M, consensus $251M. “Rexford Industrial’s (REXR) strong third quarter results demonstrate the company’s ability to drive value for shareholders,” said co-CEOs Michael Frankel and Howard Schwimmer. “We executed 3.3 million square feet of leasing, including 845,000 square feet of recently repositioned or redeveloped properties. With 1.9 million square feet of positive net absorption, our team continues to execute at a high level, delivering upon our value creation initiatives and outperforming the broader infill market. Our strategic disposition program funded $150M of accretive share repurchases, underscoring our commitment to disciplined capital allocation and to delivering durable near- and long-term growth for shareholders.”