NYSE$REXR
Rexford Industrial Realty Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Announced financial results for the second quarter of 2021.
Rexford Industrial reported strong second quarter results with Core FFO growth of 36% and 22% on a per share basis, driven by consolidated NOI growth of 31% compared to the prior year quarter. The company executed 2.2 million square feet of leasing activity at GAAP and cash releasing spreads of 34% and 21%, respectively.
- Net income attributable to common stockholders of $20.6 million, or $0.15 per diluted share, as compared to $11.4 million, or $0.10 per diluted share, for the second quarter of 2020.
- Company share of Core FFO of $52.8 million, an increase of 35.9% as compared to the second quarter 2020.
- Consolidated Portfolio Net Operating Income (NOI) of $79.7 million, an increase of 30.9% as compared to the second quarter of 2020.
- Comparable rental rates on 2.2 million rentable square feet of new and renewal leases were 33.9% higher than prior rents on a GAAP basis and 21.3% higher on a cash basis.
Headline financials
Revenue & EPS history
Rexford Industrial · Revenue · Quarterly
$104M
Revenue by segment
Rexford Industrial · $104M total across 3 segments · Q2 2021
- Rental Income$104M+30.7%99.9%
- Management and Leasing Services$109K-4.4%0.1%
- Interest Income$15K-77.3%0.0%
Forward guidance
The Company is revising its full year 2021 guidance as follows: Net Income Attributable to Common Stockholders per diluted share$0.53 - $0.56 Company share of Core FFO per diluted share$1.48 - $1.51 Stabilized Same Property Portfolio NOI Growth - GAAP5.75% - 6.75% Stabilized Same Property Portfolio NOI Growth - Cash9.00% - 10.00% Average 2021 Stabilized Same Property Portfolio Occupancy (Full Year)97.75% - 98.25% General and Administrative Expenses (2)$45.0M - $46.0M Net Interest Expense$36.0M - $36.5M
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 Q2 2021
+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 | — | — | — |
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