REXR Reports Inline Q4 FFO, Misses Revenue Expectations
Los Angeles, CA - March 8, 2023 - Rexford Industrial Realty Inc. (REXR) reported key financial metrics for its fourth quarter on Wednesday.
Key Metrics:
* Funds from Operations (FFO): $128.6 million, or 58 cents per share
* Net Income: $59.4 million, or 27 cents per share
* Revenue: $242.9 million
Analysts' Expectations:
* FFO: 58 cents per share
* Revenue: $243.7 million
Commentary:
REXR's FFO met analysts' consensus estimates, indicating a stable operating performance. However, revenue fell short of expectations, weighed down by challenges in the real estate market.
The company expects full-year 2023 FFO in the range of $2.37 to $2.41 per share, reflecting continued growth in its industrial real estate portfolio.
Additional Note:
This article is generated using data from Zacks Investment Research. For more insights, access the Zacks stock report on REXR at https://www.zacks.com/ap/REXR