Financial Data and Key Metrics Changes - Core FFO for the second quarter was $0.59 per share, a $0.01 increase over the prior quarter when excluding one-time termination revenue [10] - The company reaffirmed its full-year 2025 core FFO outlook of $2.37 to $2.41 per share [10] - The balance sheet ended the quarter with over $1.8 billion of liquidity, including $560 million of cash, and a net debt to EBITDA ratio of four times [12] Business Line Data and Key Metrics Changes - Executed 1.7 million square feet of leases in the quarter, with net effective and cash leasing spreads for comparable leases at 218% [4] - Same property occupancy increased to 96.1%, up 40 basis points sequentially, with positive net absorption of 220,000 square feet [5] - Market rents across the portfolio declined approximately 3.5% sequentially and 12.8% year over year [7] Market Data and Key Metrics Changes - Leasing activity on approximately 80% of vacant spaces, up from 60% a year ago [8] - The company sold two properties totaling $82 million, bringing year-to-date dispositions to $134 million at a weighted average cap rate in the low 4% range [8] Company Strategy and Development Direction - The company remains focused on its value creation strategy through repositioning and redevelopment projects, with a total of over $195 million of incremental cash NOI representing growth of 28% [11] - The company is actively pursuing potential near-term opportunities to recycle disposition proceeds into accretive acquisitions [9] Management's Comments on Operating Environment and Future Outlook - Management noted that while leasing activity remains steady, macroeconomic and tariff uncertainties are impacting tenant decision-making, putting pressure on overall demand [6] - The company expressed confidence in its Southern California portfolio benefiting from persistent supply constraints and strong demand [9] Other Important Information - The company achieved a 7.4% unlevered stabilized yield on total investment from seven stabilized repositioning and redevelopment projects year to date [8] - The cash mark to market for the portfolio stands at 3%, contributing about $20 million of incremental NOI to the embedded growth profile [12] Q&A Session Summary Question: Future repositioning and redevelopment starts - Management indicated that the pipeline is somewhat fluid, with the Hertz asset being a significant driver for future NOI changes [18][20] Question: Cash mark to market trends - Management noted that the cash mark to market is currently at 3%, and future growth will depend on market rent growth and the mix of units rolling [24][28] Question: Capital allocation and acquisition opportunities - Management stated that they are evaluating acquisition opportunities that meet stringent underwriting criteria and are focused on capital allocation that drives cash flow accretion [30][32] Question: Delays in rent commencements - Management acknowledged that lease-up timing has been pushed out by about one month on average due to current market dynamics, but they remain confident in their projections [35][38] Question: Tenant behavior and lease terms - Management reported that lease terms have held steady, with strong renewal activity and an increase in early renewals, indicating tenant strength [42][44] Question: Market rent growth and trends - Management confirmed a decline in market rents due to tariff volatility impacting tenant decision-making, but noted continued leasing activity [48][50] Question: Cap rates and user purchases - Management highlighted that user sales have influenced cap rates, with current market cap rates in the low 5% range [55] Question: Occupancy outlook for the second half of the year - Management expects some deceleration in occupancy due to planned move-outs, with guidance set at 95.5% to 96% [58] Question: Activity on vacant properties - Management confirmed that the 80% leasing activity is unique and not double-counted, with strong demand for smaller spaces [76][78]

Financial Data and Key Metrics Changes - Core FFO for the second quarter was $0.59 per share, a $0.01 increase over the prior quarter when excluding one-time termination revenue recognized in the first quarter [9] - The company reaffirmed its full year 2025 core FFO outlook of $2.37 to $2.41 per share [9] - The balance sheet ended the quarter with over $1.8 billion of liquidity, including $560 million of cash and a net debt to EBITDA ratio of four times [11] Business Line Data and Key Metrics Changes - Executed 1.7 million square feet of leases in the quarter, with net effective and cash leasing spreads for comparable leases at 218% respectively [3][4] - Same property occupancy increased to 96.1%, up 40 basis points sequentially, with positive net absorption of 220,000 square feet [4] - Market rents across the portfolio declined approximately 3.5% sequentially and 12.8% year over year [5] Market Data and Key Metrics Changes - Leasing activity on approximately 80% of vacant spaces, up significantly from 60% a year ago [6] - The company sold two properties totaling $82 million, bringing year-to-date dispositions to $134 million at a weighted average cap rate in the low 4% range [7] Company Strategy and Development Direction - The company remains focused on its irreplaceable infill Southern California portfolio, which is expected to benefit from persistent supply constraints and strong demand [8] - The strategy includes capital allocation towards repositioning and redevelopment projects, which are projected to contribute an additional $70 million of incremental NOI [10] Management's Comments on Operating Environment and Future Outlook - Management noted that while leasing activity remains steady, macroeconomic and tariff uncertainties are impacting tenant decision-making, putting pressure on overall demand [4] - The company expects lower interest expenses due to favorable interest rates on its term loan, despite some delays in rent commencements [10] Other Important Information - The company has approximately $54 million of dispositions under contract, subject to customary closing conditions [8] - The cash mark to market for the portfolio stands at 3%, contributing about $20 million of incremental NOI to the embedded growth profile [10][25] Q&A Session Summary Question: Future repositioning and redevelopment starts - Management indicated that the pipeline is fluid and subject to change, with the Hertz asset being a significant driver for future NOI [15][18] Question: Cash mark to market trends - Management stated that the cash mark to market is currently at 3% and future trends will depend on market rent growth, emphasizing that growth is not solely dependent on this metric [22][25] Question: Capital allocation and acquisition opportunities - Management confirmed a measured approach to acquisitions, focusing on opportunities that meet stringent underwriting criteria and drive cash flow accretion [27][29] Question: Delays in rent commencements - Management expressed confidence in achieving projections despite pushing out lease-up timing by about one month on average due to current market dynamics [33][35] Question: Tenant behavior and lease terms - Lease terms have remained steady, with strong renewal activity and an increase in early renewals, indicating tenant confidence [40][41] Question: Market rent growth and volatility - Management acknowledged a decline in market rents due to tariff policy volatility but noted continued leasing activity and progress on redevelopment projects [44][46] Question: Cap rates and user purchases - Management highlighted that user sales have influenced cap rates, with current market cap rates in the low 5% range [50][53] Question: Occupancy outlook for the second half of the year - Management expects some deceleration in occupancy due to planned move-outs, maintaining guidance of 95.5% to 96% [55][56] Question: Conversion rates and demand - Management reported that conversion rates are taking longer, but the majority of leasing activity is expected to convert into executed leases [62]

Financial Performance - The company maintained its 2025 outlook, with Q2 performance aligning with expectations[12] - Core FFO/Share for Q2 2025 was $0.59, reflecting a (1.7%) growth[18] - Year-to-date 2025 Core FFO/Share was $1.21, a 3.4% increase[18] - The company projects incremental NOI of $195 million, representing 28% growth[14] Portfolio Performance - Total Portfolio Cash NOI Growth for Q2 2025 was 5.7%[18] - Total Portfolio Net Effective NOI Growth for Q2 2025 was 2.9%[18] - Same Property Cash NOI Growth for Q2 2025 was 3.9%[18] - Same Property Net Effective NOI Growth for Q2 2025 was 1.1%[18] Strategic Capital Allocation - The company executed over 900,000 SF of leasing year-to-date and stabilized 7 projects year-to-date at a 7.4% unlevered yield[12] - The company completed dispositions of 209,000 SF in Q2 2025, generating $82 million in total sales price and an 12.8% unlevered IRR[24] Balance Sheet and Liquidity - The company has a strong balance sheet with 4.0x Net Debt/EBITDAre and $1.8 billion of liquidity[12]

For the quarter ended June 2025, Rexford Industrial (REXR) reported revenue of $249.51 million, up 5% over the same period last year. EPS came in at $0.59, compared to $0.37 in the year-ago quarter.The reported revenue represents a surprise of +1.96% over the Zacks Consensus Estimate of $244.72 million. With the consensus EPS estimate being $0.58, the EPS surprise was +1.72%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Rexford Industrial (REXR) came out with quarterly funds from operations (FFO) of $0.59 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to FFO of $0.6 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of +1.72%. A quarter ago, it was expected that this industrial real estate investment trust would post FFO of $0.57 per share when it actually produced FFO of $0.62, delivering a surprise of +8.77%.Over the ...

Exhibit 99.2 Table of Contents. | Section | Page | | --- | --- | | Corporate Data: | | | Investor Company Summary | 3 | | Company Overview | 4 | | Highlights - Consolidated Financial Results | 5 | | Financial and Portfolio Highlights and Capitalization Data | 6 | | Guidance | 7 | | Consolidated Financial Results: | | | Consolidated Balance Sheets | 9 | | Consolidated Statements of Operations | 10 | | Non-GAAP FFO, Core FFO and AFFO Reconciliations | 12 | | Statement of Operations Reconciliations | 15 | | Sa ...

LOS ANGELES, July 16, 2025 /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced financial and operating results for the second quarter of 2025.Second Quarter 2025 Financial and Operational Highlights Net income attributable to common stockholders of $113.4 million, or $0.48 per diluted sha ...

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Core Insights - Wall Street analysts forecast Rexford Industrial (REXR) will report quarterly earnings of $0.58 per share, indicating a year-over-year decline of 3.3% [1] - Anticipated revenues are projected to be $244.72 million, reflecting a 3% increase compared to the same quarter last year [1] Earnings Estimates - The current EPS estimate represents a downward revision of 0.1% over the past 30 days, indicating a collective reassessment by analysts [2] - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock [3] Revenue Projections - Analysts expect 'Revenues- Rental revenues' to be $239.56 million, suggesting a year-over-year change of +2.8% [5] - 'Revenues- Interest income' is estimated to reach $5.32 million, indicating a year-over-year increase of +19.7% [5] - The consensus estimate for 'Depreciation and amortization' is projected at $83.11 million [5] Market Performance - Rexford Industrial shares have remained unchanged over the past month, contrasting with the Zacks S&P 500 composite's increase of +4.1% [5] - With a Zacks Rank 3 (Hold), REXR is expected to closely follow overall market performance in the near term [5]

Rexford Industrial Realty, Inc. ( REXR ) has been on my watch list for a very long time (see below for reasons). Every time I check the price, I see that the stock has**My articles represent my opinion only and in no way constitute professional investment advice. It is the responsibility of the reader to conduct their due diligence and seek investment advice from a licensed professional before making any investment decisions.**Analyst’s Disclosure:I/we have no stock, option or similar derivative position in ...