Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents

Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary

Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary - Thomson StreetEvents
Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary
Published Jul 20, 2023
17 pages (9666 words) — Published Jul 20, 2023
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Brief of REXR.N earnings conference call or presentation 20-Jul-23 5:00pm GMT

  
Brief Excerpt:

...A. I'd like to start by acknowledging our Rexford team for delivering an exceptional quarter, which included a 33% increase in quarterly earnings or FFO and a 10% increase in FFO per share over the prior year quarter. B. From an internal growth perspective, we maintained same property pool average occupancy of 98%. C. Our high occupancy was supported by 450,000 square feet of positive net absorption and 2.1 million square feet of activity, achieved with record leasing spreads of 97% on a GAAP basis and 75% on a cash basis. D. During the quarter, our team stabilized 4 value-add repositioned properties that are contributing an estimated $9 million of incremental annualized NOI, growing by 4% through our embedded annual rent steps....

  
Report Type:

Brief

Source:
Thomson StreetEvents
Company:
Rexford Industrial Realty Inc
Ticker
REXR.N
Time
5:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Nathan Daniel Crossett - BNP Paribas Exane, Research Division - Analyst : A couple of pricing ones. I was wondering if there was any visibility you can give on what leasing spreads have been like so far in 3Q. And then on the (inaudible) , I think you mentioned 4.1% this quarter. I think last quarter it was 4.4%. Maybe you can just talk about how that 4.1% stands today, directionally, where do you expect that kind of going? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JULY 20, 2023 / 5:00PM, REXR.N - Q2 2023 Rexford Industrial Realty Inc Earnings Call

Question: Nathan Daniel Crossett - BNP Paribas Exane, Research Division - Analyst : That's helpful. Just a question on bad debt. I think it's 30 basis points year-to-date. I think last quarter, it was 0. So I'm just curious where the credit issues were this quarter. Is there anyone on the watch list? Has the watch list increased the last 3 months? And then also what's the percent of sublease space in the portfolio today?

Table Of Contents

Rexford Industrial Realty Inc Annual Shareholders Meeting Summary – 2024-06-11 – US$ 54.00 – Edited Brief of REXR.N shareholder or annual meeting 11-Jun-24 4:00pm GMT

Rexford Industrial Realty Inc Annual Shareholders Meeting Transcript – 2024-06-11 – US$ 54.00 – Edited Transcript of REXR.N shareholder or annual meeting 11-Jun-24 4:00pm GMT

Rexford Industrial Realty Inc Q3 2023 Earnings Call Summary – 2023-10-19 – US$ 54.00 – Edited Brief of REXR.N earnings conference call or presentation 19-Oct-23 5:00pm GMT

Rexford Industrial Realty Inc Q3 2023 Earnings Call Transcript – 2023-10-19 – US$ 54.00 – Edited Transcript of REXR.N earnings conference call or presentation 19-Oct-23 5:00pm GMT

Rexford Industrial Realty Inc Q2 2023 Earnings Call Transcript – 2023-07-20 – US$ 54.00 – Edited Transcript of REXR.N earnings conference call or presentation 20-Jul-23 5:00pm GMT

Rexford Industrial Realty Inc Q1 2023 Earnings Call Summary – 2023-04-20 – US$ 54.00 – Edited Brief of REXR.N earnings conference call or presentation 20-Apr-23 5:00pm GMT

Rexford Industrial Realty Inc Q1 2023 Earnings Call Transcript – 2023-04-20 – US$ 54.00 – Edited Transcript of REXR.N earnings conference call or presentation 20-Apr-23 5:00pm GMT

Rexford Industrial Realty Inc at Citi Miami Global Property CEO Conference (Virtual) Transcript – 2023-03-06 – US$ 54.00 – Edited Transcript of REXR.N presentation 6-Mar-23 2:15pm GMT

Rexford Industrial Realty Inc Q4 2022 Earnings Call Summary – 2023-02-09 – US$ 54.00 – Edited Brief of REXR.N earnings conference call or presentation 9-Feb-23 6:00pm GMT

Rexford Industrial Realty Inc Q4 2022 Earnings Call Transcript – 2023-02-09 – US$ 54.00 – Edited Transcript of REXR.N earnings conference call or presentation 9-Feb-23 6:00pm GMT

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Cite this Report

  
MLA:
Thomson StreetEvents. "Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary" Jul 20, 2023. Alacra Store. May 02, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Rexford-Industrial-Realty-Inc-Earnings-Call-B15638638>
  
APA:
Thomson StreetEvents. (2023). Rexford Industrial Realty Inc Q2 2023 Earnings Call Summary Jul 20, 2023. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2023-Rexford-Industrial-Realty-Inc-Earnings-Call-B15638638>
  
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