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Rexford Industrial Realty (REXR)
NYSE:REXR
RESEARCH TOOLSreports
Earnings Data
Report Date
Apr 16, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.27Last Year’s EPS
0.27Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 05, 2025
|% Change Since: -0.78%
|Next Earnings Date:Apr 16, 2025
Earnings Call Sentiment|Neutral
The earnings call highlights Rexford Industrial's strong leasing performance and successful repositioning projects, demonstrating resilience in challenging market conditions. However, there are concerns about declining market rents, occupancy challenges, and longer projected downtimes which could impact future growth. The company maintains a strong financial position and is focused on maximizing returns through disciplined capital allocation.Company Guidance
In the Rexford Industrial Fourth Quarter 2024 Earnings Conference Call, the company provided several key metrics and guidance for 2025. They reported a same-property average occupancy decline of 120 basis points sequentially and executed 1 million square feet of leasing with net effective leasing spreads of 55% and cash leasing spreads of 41%. For the full year, they achieved a 7.5% unlevered stabilized yield on 825,000 square feet of repositioning and redevelopment projects. In terms of acquisitions, Rexford completed $1.5 billion worth with a projected 5.6% unlevered stabilized yield. For 2025, they anticipate a same-property net effective NOI growth of 1%, with a core FFO guidance range of $2.37 to $2.41 per share and are taking steps to maintain a low leverage profile, with a net debt-to-EBITDA ratio at 4.6x as of the quarter end. Their capital allocation strategy includes $275 million for repositioning and redevelopment, with no new acquisitions currently under contract, but $105 million of dispositions are pending. They also have a $300 million share repurchase program authorized.Strong Leasing Performance
Executed 1 million square feet of leasing at net effective leasing spreads of 55% and cash leasing spreads of 41%. Annual embedded rent steps averaged 3.9%.
Successful Repositioning Projects
Stabilized 10 repositioning and redevelopment projects across 825,000 square feet with an aggregate 7.5% unlevered stabilized yield on total investment.
Significant Acquisitions and Builds
Completed $1.5 billion of acquisitions projected to generate a 5.6% unlevered stabilized yield. Built 5 properties for $44 million, generating a 12.8% unlevered IRR.
Cost Control and Efficiency
No increase in year-over-year projected G&A despite growing consolidated NOI by 17% in 2024.
Solid Financial Position
Maintained a low leverage profile with net debt-to-EBITDA at 4.6x and liquidity totaling $1.4 billion.
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REXR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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REXR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 05, 2025 | $40.77 | $40.56 | -0.52% |
| Oct 16, 2024 | $48.88 | $44.44 | -9.08% |
| Jul 17, 2024 | $48.75 | $47.91 | -1.72% |
| Apr 17, 2024 | $41.05 | $41.97 | +2.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Rexford Industrial Realty (REXR) report earnings?
Rexford Industrial Realty (REXR) is schdueled to report earning on Apr 16, 2025, TBA Not Confirmed.
What is Rexford Industrial Realty (REXR) earnings time?
Rexford Industrial Realty (REXR) earnings time is at Apr 16, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is REXR EPS forecast?
REXR EPS forecast for the fiscal quarter 2025 (Q1) is 0.27.
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