Rexford Industrial reports Q2 Core FFO 54c, consensus 54c

Reports Q2 revenue $195,77M, consensus $196.7M. Same Property Portfolio NOI increased 8.0% and Same Property Portfolio Cash NOI increased 10.0% as compared to the prior year quarter. “The Rexford Industrial team produced another quarter of excellent results, demonstrating the strength of our value creation focused business model within infill Southern California, the nation’s largest industrial market, benefiting from the lowest threat of disruption from new supply of any major market due to an extreme scarcity of developable land coupled with favorable long-term tenant demand fundamentals,” stated Michael Frankel and Howard Schwimmer, Co-CEO. “In the Q2, our team increased Core FFO by 33% and Core FFO per diluted share by 10% compared to the prior year quarter.”