Rexford Industrial Reports Strong Q3 Performance Metrics

Rexford Industrial's Stellar Q3 2025 Results

Rexford Industrial Realty, Inc. (NYSE: REXR) has posted remarkable financial results for the third quarter of 2025, demonstrating excellence in operational efficiency and growth. The company reported a net income attributable to common stockholders of $87.1 million, amounting to $0.37 per diluted share, an increase from the $65.1 million or $0.30 per diluted share in the same quarter of the previous year.

Financial and Operational Highlights

Key Metrics

The third quarter showcased Rexford's robust performance, with the Company’s share of Core Funds from Operations (FFO) hitting $141.7 million, reflecting a 9% increase year-over-year. Core FFO per diluted share rose by 1.7% to $0.60. Moreover, total Portfolio Net Operating Income (NOI) reached $188.9 million, up by 2.9% compared to the previous year. The Same Property Portfolio NOI also witnessed positive growth of 1.9%, with a cash NOI increase of 5.5%.

Leasing Achievements

During the quarter, Rexford executed 3.3 million square feet in new and renewal leases, with rental rates increasing significantly—by 26.1% on a net effective basis and by 10.3% on a cash basis. The average same property portfolio occupancy stood at a commendable 96.5%, with an ending occupancy of 96.8%, up 60 basis points from the prior quarter.

Strategic Initiatives and Outlook

Rexford’s proactive approach in leasing activities included executions related to repositioning and redevelopment projects, encompassing 844,854 square feet. The company realized notable sales results, selling three properties for an aggregate price of $53.6 million, which generated a weighted average unlevered IRR of 14.3%.

Financial Management and Capital Allocation

The company reported a low-leverage balance sheet, with a net debt to enterprise value ratio of 23.2% and a net debt to adjusted EBITDA ratio of 4.1x. Furthermore, Rexford executed a disciplined capital allocation strategy by repurchasing nearly 3.9 million shares of its common stock at an average price of $38.62 per share, totaling $150 million in buybacks.

Upcoming Guidance

Rexford revised its 2025 guidance, now projecting Core FFO per diluted share in the range of $2.39 to $2.41, adjusted for prior estimates at the midpoint. This adjustment reflects growing confidence in future operational performance amid market dynamics.

About Rexford Industrial Realty

Rexford Industrial specializes in investing in, operating, and redeveloping industrial real estate in high-demand regions. With a portfolio of 420 properties comprising approximately 50.9 million rentable square feet, Rexford continues to thrive as an S&P MidCap 400 Index member.

Frequently Asked Questions

What are the key financial highlights from Rexford Industrial's Q3 2025 results?

Rexford reported a net income of $87.1 million, up from $65.1 million in the prior year. The company also increased its Core FFO by 9% year-over-year.

How did leasing activity perform during the third quarter?

The company executed 3.3 million square feet of leasing, indicating a significant increase in rental rates, with a growth of 26.1% in net effective rates.

What is Rexford Industrial's strategic focus moving forward?

Rexford aims to continue its growth through strategic dispositions, renovations, and expanding its industrial footprint in key markets.

How did Rexford manage its capital assets in Q3 2025?

The company repurchased 3.9 million shares for a total of $150 million, highlighting a commitment to shareholder returns and prudent financial management.

What is the updated guidance for Rexford Industrial for the fiscal year 2025?

Rexford has projected a Core FFO of $2.39 to $2.41 per diluted share, an increase from earlier figures, embodying rising expectations in financial performance.

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