Rexford Industrial Announces Third Quarter 2026 Financial Results
Rexford Industrial reported Q3 2026 Core FFO of $0.60 per diluted share, flat with the prior year, while GAAP net income fell to $14.6 million ($0.07/share) from $87.1 million ($0.37/share), weighed down by $71.8 million of impairments. The company raised its FY26 Core FFO guidance to $2.41-$2.44 from $2.38-$2.43 and narrowed same-property NOI growth guidance to roughly flat, with Q3 same-property NOI down 2.6% and ending occupancy of 96.9%, up 200 bps sequentially.
Key figures
- Eps
- $0.07 per diluted share (Q3 2026 GAAP net income) vs $0.37 prior year
- Guidance
- FY26 Core FFO $2.41-$2.44 (raised from $2.38-$2.43); net loss per share ($1.55)-($1.52) (widened from ($1.32)-($1.27)); Same Property NOI growth net effective (0.25)%-0.25%; dispositions $1.7B-$2.0B
- Total debt
- $2.8 billion at 3.70% weighted average rate
- Buybacks ytd
- $708.7 million at $36.90 avg
- Core ffo yoy
- flat vs prior year
- Debt repaid q3
- 485000000
- Impairments q3
- 71834000
- Dispositions q3
- $1.3 billion (25 properties)
- Impairments ytd
- 703412000
- Total liquidity
- $1.7 billion
- Dispositions ytd
- $1.5 billion
- Buyback remaining
- 591300000
- Core ffo per share q3
- 0.6
- Q4 dividend per share
- 0.435
- Buybacks q3 plus subsequent
- 408700000
- Net debt to adjusted ebitda
- 3.8x (down from 4.5x)
- Same property noi growth q3
- -2.6%
- Same property ending occupancy
- 96.9%
- Same property cash noi growth q3
- -1.1%
AI analysis
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