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Rexford Industrial Realty — Apr 16, 2025 release

Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001571283-25-000020
Open on SEC.gov ↗
Showing in the filing
Net Interest Expense
“+/- $109.5M”
Period
Q1 FY2025
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 16
Common stock repurchase program authorization for FY2027
“$300 million”
Dividend for Q2 FY2025
“$0.43 per share”
Dividend per share (common stock) for Q2 FY2025
“$0.43 per share”
Quarterly dividend, Series B Cumulative Rede… for Q2 FY2025
“$0.367188 per share”
Quarterly dividend of Series B Cumulative Re…
“$0.367188 per share”
Quarterly dividend, Series C Cumulative Rede… for Q2 FY2025
“$0.351563 per share”
Quarterly dividend of Series C Cumulative Re…
“$0.351563 per share”
Net Income Attributable to Common Stockholde… for Q1 FY2025
“$1.31 - $1.35”
Net Income Attributable to Common Stockholde…
“$1.21 - $1.25”
Company share of Core FFO per diluted share for Q1 FY2025
“$2.37 - $2.41”
Same Property Portfolio NOI Growth — Net Eff… for Q1 FY2025
“0.75% - 1.25%”
Same Property Portfolio NOI Growth — Cash for Q1 FY2025
“2.25% - 2.75%”
Average Same Property Portfolio Occupancy (F… for Q1 FY2025
“95.5% - 96.0%”
General and Administrative Expenses for Q1 FY2025
“+/- $82.0M”
Net Interest Expense for Q1 FY2025
“+/- $109.5M”
Net Interest Expense
“$110.5M - $111.5M”
Exhibit 99.1 · the passage around this item
… earlier in the release
2025 Outlook (1) Q1 2025 Updated Guidance Initial Guidance Net Income Attributable to Common Stockholders per diluted share $1.31 - $1.35 $1.21 - $1.25 Company share of Core FFO per diluted share $2.37 - $2.41 $2.37 - $2.41 Same Property Portfolio NOI Growth — Net Effective 0.75% - 1.25% 0.75% - 1.25% Same Property Portfolio NOI Growth — Cash 2.25% - 2.75% 2.25% - 2.75% Average Same Property Portfolio Occupancy (Full Year) (2) 95.5% - 96.0% 95.5% - 96.0% General and Administrative Expenses (3) +/- $82.0M +/- $82.0M Net Interest Expense +/- $109.5M $110.5M - $111.5M (1) 2025 Guidance represents the in-place portfolio as of April 16, 2025, and does not include any assumptions for additional prospective acquisitions, dispositions or related balance sheet activities that have not closed. (2) As of April 16, 2025, our 2025 Same Property Portfolio consisted of 291 properties totaling 38.3 million rentable square feet representing approximately 76% of Q1 2025 consolidated portfolio NOI. As of December 31, 2024, Same Property Portfolio ending occupancy was 96.3% for the 2025 Same Property Portfolio. For the full year 2024, average Same Property Portfolio occupancy was 96.8% for the 2025 Same Property Portfolio. (3) 2025 General and Administrative expense guidance includes estimated non-cash equity compensation expense of $37.3 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
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.