Rexford Industrial reports Q2 core FFO 60c, consensus 58c

Reports Q2 revenue $237.57M, consensus $227.9M. Reports Q2 consolidated Portfolio NOI of $181.1M, an increase of 20.9% as compared to the prior year quarter, Same Property Portfolio NOI up 6.0% and Same Property Portfolio Cash NOI up 9.1% vs. the prior year quarter. “Rexford Industrial’s strong year-to-date performance demonstrates the resilience of our value-driven business model and associated outsized cash flow growth,” stated Michael Frankel and Howard Schwimmer, Co-CEOs. “As we look forward, we believe Rexford Industrial’s entrepreneurial asset management program and accretive approach to capital allocation and recycling will enable us to further differentiate our performance as we continue to capitalize upon a significant market opportunity to create value for our stakeholders.”