NYSE$REXR
Rexford Industrial Realty Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Rexford Industrial reported financial results for Q1 2024, demonstrating growth in Core FFO and NOI, driven by strong leasing activity and strategic investments.
Rexford Industrial Realty, Inc. announced strong first quarter 2024 results, with net income attributable to common stockholders of $58.6 million, or $0.27 per diluted share. The Company share of Core FFO increased by 20.3% to $123.5 million, or $0.58 per diluted share, and Consolidated Portfolio NOI grew by 14.9% to $163.5 million.
- Net income attributable to common stockholders was $58.6 million, or $0.27 per diluted share.
- Company share of Core FFO increased 20.3% to $123.5 million, or $0.58 per diluted share.
- Consolidated Portfolio NOI increased 14.9% to $163.5 million.
- Completed $1.1 billion in acquisitions, totaling 3.2 million square feet.
Headline financials
Revenue & EPS history
Rexford Industrial · Revenue · Quarterly
$214M
Revenue by segment
Rexford Industrial · $205M total across 3 segments · Q3 2023
- Rental Income$204M+25.6%99.4%
- Interest Income$1.03M+34200.0%0.5%
- Management and Leasing Services$158K-3.1%0.1%
Forward guidance
The company updated its full year 2024 guidance. Core FFO guidance refers to the Company’s in-place portfolio as of April 17, 2024, and does not include any assumptions for additional acquisitions, dispositions or related balance sheet activities that have not closed.
Tailwinds
- Net Income Attributable to Common Stockholders per diluted share: $1.17 - $1.20
- Company share of Core FFO per diluted share: $2.31 - $2.34
- Same Property Portfolio NOI Growth - GAAP: 4.25% - 5.25%
- Same Property Portfolio NOI Growth - Cash: 7.0% - 8.0%
- Average Same Property Portfolio Occupancy (Full Year): 96.5% - 97.0%
Headwinds
- General and Administrative Expenses: +/- $83.0M
- Net Interest Expense: +/- $99.0M
- Potential impacts related to interest rates.
- Potential impacts related to inflation.
- Potential impacts related to the economy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.2%
Avg return
Earnings day
+0.5%
Avg return
5 days after
+1.0%
Avg return
30 days after
56%
29 / 52 earnings
Positive
+9.5%
Q1 2022
Best reaction
-8.0%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.7% | -2.3% | -0.5% | |
| Q4 2025 | -6.5% | -7.6% | -12.9% | |
| Q3 2025 | +2.3% | +2.9% | -2.8% | |
| Q2 2025 | +0.8% | +4.1% | +14.7% | |
| Q1 2025 | -0.4% | -1.5% | +9.2% | |
| Q4 2024 | -0.5% | +1.1% | -0.8% | |
| Q3 2024 | -5.9% | -6.4% | -12.0% | |
| Q2 2024 | -1.7% | -0.0% | +1.2% | |
| Q1 2024 | -3.3% | -3.7% | +3.8% | |
| Q4 2023 | -1.5% | +0.7% | +0.1% | |
| Q3 2023 | -8.0% | -11.8% | -3.0% | |
| Q2 2023 | +1.8% | +6.0% | -3.4% | |
| Q1 2023 | +2.3% | +2.1% | -1.5% | |
| Q4 2022 | -2.2% | -2.0% | -12.2% | |
| Q3 2022 | -4.7% | -5.2% | +5.2% | |
| Q2 2022 | +1.2% | +1.8% | +9.1% | |
| Q1 2022 | +9.5% | +5.9% | -17.6% | |
| Q4 2021 | -2.2% | -3.0% | -4.4% | |
| Q3 2021 | +4.8% | +6.3% | +14.2% | |
| Q2 2021 | -0.0% | +0.6% | +2.2% | |
| Q1 2021 | -2.4% | -1.6% | -2.9% | |
| Q4 2020 | +1.6% | +3.1% | -1.4% | |
| Q3 2020 | -1.0% | -0.7% | -0.2% | |
| Q2 2020 | +0.9% | +2.9% | +16.2% | |
| Q1 2020 | -1.3% | +2.8% | +5.3% | |
| Q4 2019 | +1.4% | +5.3% | -21.1% | |
| Q3 2019 | +0.3% | -1.0% | +0.1% | |
| Q2 2019 | -0.3% | +0.5% | +6.0% | |
| Q1 2019 | +2.9% | +3.5% | +1.2% | |
| Q4 2018 | +0.0% | +0.3% | +1.0% | |
| Q3 2018 | +1.2% | +2.2% | +4.9% | |
| Q2 2018 | +4.1% | +5.1% | +7.6% | |
| Q1 2018 | +2.6% | +4.2% | +2.4% | |
| Q4 2017 | +0.8% | +1.7% | +2.6% | |
| Q3 2017 | +1.5% | +2.2% | +6.3% | |
| Q2 2017 | +1.2% | -1.5% | +5.4% | |
| Q1 2017 | +1.1% | +1.6% | +12.3% | |
| Q4 2016 | +2.0% | +3.6% | -1.6% | |
| Q3 2016 | -0.5% | +1.6% | +5.1% | |
| Q2 2016 | -1.1% | -2.0% | +1.6% | |
| Q1 2016 | +2.2% | — | — | |
| Q4 2015 | +3.0% | — | — | |
| Q3 2015 | -1.0% | — | — | |
| Q2 2015 | -2.1% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | +3.0% | — | — | |
| Q3 2014 | +0.6% | — | — | |
| Q2 2014 | +0.2% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | -0.9% | — | — | |
| Q3 2013 | +0.3% | — | — | |
| Q2 2013 | +2.7% | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro