Rexford Industrial Realty, Inc. (REXR) Q3 FY2026 earnings

Reported results

• Net income attributable to common stockholders of $14.6 million, or $0.07 per diluted share (GAAP), compared to $87.1 million, or $0.37 per diluted share in Q3 2025.
• Company share of Core FFO per diluted share of $0.60 (non-GAAP), consistent with Q3 2025.
• Same Property Portfolio NOI decreased 2.6% and Same Property Portfolio Cash NOI decreased 1.1% compared to Q3 2025.
• Executed 3.7 million square feet of leasing with comparable rental rates increasing 7.1% on a net effective basis and decreasing 3.0% on a cash basis.
• Disposed of 25 properties for $1.3 billion in Q3 2026; year-to-date dispositions totaled 37 properties for $1.5 billion.
• Repurchased 10.9 million shares for $408.7 million at weighted average price of $37.59 per share; repaid $485.0 million of debt.

Guidance

• 2026 full-year Net Loss Attributable to Common Stockholders per diluted share (GAAP): ($1.55) to ($1.52), raised from ($1.32) to ($1.27) in Q2 2026 guidance.
• 2026 full-year Company share of Core FFO per diluted share (non-GAAP): $2.41 to $2.44, raised from $2.38 to $2.43 in Q2 2026 guidance.
• 2026 Same Property Portfolio NOI Growth - Net Effective (non-GAAP): (0.25)% to 0.25%, improved from (1.25)% to (0.25)%.
• 2026 Same Property Portfolio NOI Growth - Cash (non-GAAP): 0.25% to 0.75%, improved from (0.75)% to 0.25%.
• 2026 Average Same Property Portfolio Occupancy (Full Year): 95.8% to 96.0%, raised from 95.3% to 95.7%.
• 2026 Dispositions: $1.7B to $2.0B, raised from $1.5B to $2.0B.
• 2026 Repositioning/Development Starts (SF): 0.8M, reduced from 1.2M.
• 2026 Repositioning/Development Starts (Total Estimated Project Costs): $125M to $130M, reduced from $160M to $170M.

Notes

Q3 2026 net income includes $71.8 million of impairments and $23.2 million of gains on sale of real estate. Nine-month 2026 net loss includes $703.4 million of impairments. Core FFO is a non-GAAP measure excluding real estate depreciation, gains/losses on property sales, impairments, and other specified items. Same Property Portfolio is defined as properties wholly owned from January 1, 2025 through October 22, 2026, excluding properties classified as repositioning/development or acquired/sold during the period.

Price and volatility reaction

The stock moved +6.7% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -5.9 vol points across the event (constant-maturity series — not the front-week crush).

Source

The figures above come from the earnings release the company filed with the SEC on 2026-10-22 (8-K, Item 2.02). Read the original filing on sec.gov.