HighGravityDataRexford Industrial Realty — Oct 16, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001571283-24-000052
Showing in the filing
Estimated non-cash equity compensation expense included in G&A
“$38.8 million”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 22
Near-term acquisition pipeline
“approximately $200 million”
Dividend for Q4 FY2024
“$0.4175 per share”
Dividend per share (common stock) for Q4 FY2024
“$0.4175”
Series B Cumulative Redeemable Preferred Sto… for Q4 FY2024
“$0.367188”
Quarterly dividend of Series B Cumulative Re…
“$0.367188 per share”
Series C Cumulative Redeemable Preferred Sto… for Q4 FY2024
“$0.351563”
Quarterly dividend of Series C Cumulative Re…
“$0.351563 per share”
Net Income Attributable to Common Stockholde… for Q3 FY2024
“$1.20 - $1.22”
Net Income Attributable to Common Stockholde… for Q2 FY2024
“$1.19 - $1.21”
Company share of Core FFO per diluted share for Q3 FY2024
“$2.33 - $2.35”
Company share of Core FFO per diluted share for Q2 FY2024
“$2.32 - $2.34”
Same Property Portfolio NOI Growth - GAAP for Q3 FY2024
“4.25% - 4.75%”
Same Property Portfolio NOI Growth - GAAP for Q2 FY2024
“4.25% - 5.25%”
Same Property Portfolio NOI Growth - Cash for Q3 FY2024
“7.0% - 7.5%”
Same Property Portfolio NOI Growth - Cash for Q2 FY2024
“7.0% - 8.0%”
Average Same Property Portfolio Occupancy (F… for Q3 FY2024
“96.5% - 96.75%”
Average Same Property Portfolio Occupancy (F… for Q2 FY2024
“96.5% - 97.0%”
General and Administrative Expenses for Q3 FY2024
“+/- $83.0M”
General and Administrative Expenses for Q2 FY2024
“+/- $83.0M”
Net Interest Expense for Q3 FY2024
“+/- $99.0M”
Net Interest Expense for Q2 FY2024
“+/- $99.0M”
Estimated non-cash equity compensation expen… for FY2024
“$38.8 million”
Exhibit 99.1 · the passage around this item
… earlier in the release
(2) Our 2024 Same Property Portfolio is a subset of our consolidated portfolio and includes properties that were wholly owned by us for the period from January 1, 2023 through September 30, 2024 and excludes properties that were or will be classified as repositioning/redevelopment (current and future) or lease-up during 2023 and 2024 (unless otherwise noted). Our 2024 Same Property Portfolio represents approximately 73% of total 3Q 2024 NOI. (3) 2024 General and Administrative expense guidance includes estimated non-cash equity compensation expense of $38.8 million. Non-cash equity compensation includes restricted stock, time-based LTIP units and performance units that are tied to the Company’s overall performance and may or may not be realized based on actual results. A number of factors could impact the Company’s ability to deliver results in line with its guidance, including, but not limited to, the potential impacts related to interest rates, inflation, the economy, the supply and demand of industrial real estate, the availability and terms of financing to the Company or to potential acquirers of real estate and the timing and yields for divestment and investment. There can be no assurance that the Company can achieve such results. Supplemental Information and Updated Investor Presentation: The Company’s supplemental financial reporting package as well as an updated investor presentation are available on the Company’s investor relations website at ir.rexfordindustrial.com. Earnings Release, Investor Conference Webcast and Conference Call: A conference call with executive management will be held on Thursday, October 17, 2024, at 1:00 p.m. Eastern Time. To participate in the live telephone conference call, please access the following dial-
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.