Rexford Industrial Realty Inc

Latest Results (15.11.2025):

Rexford Industrial Realty Inc's third quarter 2025 financial results show strong performance with significant increases in net income and Core FFO, reflecting the company’s robust leasing and asset management activities. The report highlights improved same-property NOI, active property dispositions, share repurchases, and a disciplined approach to capital allocation, setting a positive tone moving into the final quarter of 2025.

Financial Performance

The company reported net income attributable to common stockholders of $87.1 million, or $0.37 per diluted share, compared to $65.1 million, or $0.30 per diluted share, in the prior year quarter. Its Core FFO increased by 9.0% to $141.7 million, and Core FFO per diluted share climbed by 1.7% to $0.60.

Leasing and Occupancy

Rexford Industrial executed 3.3 million square feet of new and renewal leases, with net effective rental rate increases of 26.1% and cash basis increases of 10.3%. The Same Property Portfolio ended the quarter at 96.8% occupancy, reflecting steady performance in a competitive infill Southern California market.

Transaction and Disposition Activity

During this quarter, the company sold three properties for $53.6 million, generating a weighted average unlevered IRR of 14.3%. Additionally, 844,854 square feet of repositioning and redevelopment leases were executed, showcasing active portfolio management and value creation.

Balance Sheet and Share Repurchases

Rexford Industrial ended Q3 2025 with $1.6 billion in total liquidity and maintained a low-leverage balance sheet with a Net Debt to Enterprise Value ratio of 23.2%. The company repurchased approximately 3.88 million shares at an average price of $38.62, spending $150.0 million under its disciplined capital allocation strategy.

Dividend and Guidance

Looking ahead, the Board has authorized a dividend of $0.43 per share for the fourth quarter of 2025 and increased the Core FFO per diluted share guidance to a range of $2.39-$2.41, demonstrating confidence in sustained financial strength and return to shareholders.