Rexford Industrial Realty(US:REXR)2025-10-16 17:00Financial Performance - Core FFO per share for 3Q 2025 was $0.60, representing a 1.7% growth compared to 3Q 2024[16] - Year-to-date 2025 Core FFO per share was $1.82, a 6% increase[16] - The company increased its 2025 Core FFO per share guidance by $0.01 at the midpoint, driven by strong leasing activity and capital recycling[12] - Same Property Portfolio Cash NOI Growth for 3Q 2025 was 1.9% and Net Effective NOI Growth was 4.9%[16] - Total Portfolio Cash NOI Growth for 3Q 2025 was 10.4% and Net Effective NOI Growth was 7.7%[16] Operational Highlights - Total leasing activity in 3Q 2025 reached 3.3 million square feet, with net effective leasing spreads of 26% and cash leasing spreads of 10%[12] - Repositioning and redevelopment leasing in 3Q 2025 accounted for 845,000 square feet, contributing to over 1.5 million square feet year-to-date, equating to $27 million of annualized NOI[12] - Average Same Property Occupancy was 96.5% in 3Q 2025, a 50 basis point increase compared to 2Q 2025[17] Capital Allocation and Balance Sheet - The company completed $188 million in dispositions year-to-date and recycled $150 million into share repurchases[12] - The company has $160 million in dispositions under contract/accepted offer[22] - The company boasts a strong balance sheet with a Net Debt/Adjusted EBITDAre ratio of 4.1x and $1.6 billion in liquidity[13] - The company has $450 million available under its $500 million share repurchase program[25]