Earnings Call Summary | Rexford Industrial Realty Inc(REXR.US) Q1 2024 Earnings Conference
Earnings Call Summary | Rexford Industrial Realty Inc(REXR.US) Q1 2024 Earnings Conference
The following is a summary of the Rexford Industrial Realty, Inc. (REXR) Q1 2024 Earnings Call Transcript:
以下是雷克斯福德工业地产公司（REXR）2024年第一季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Rexford Industrial's Q1 core FFO per share had a notable increase of 12% YoY to $0.58.
It registered same-property NOI growth of 8.5% and 5.5% on a cash and net-effective basis, respectively.
Leasing spreads were carried out over the trailing 12-month period, amounting to 71% on a net-effective basis and 52% on a cash basis.
The company anticipates a reduction in leverage within the 4x to 4.5x target range in the near term.
The company projects a full year 2024 core FFO per share guidance between $2.31 and $2.34.
Registry of $2.1 billion in liquidity, including a $1 billion revolver, $837 million of forward equity, and $185 million of cash was noted.
雷克斯福德工业公司第一季度每股核心FFO同比显著增长12％，至0.58美元。
按现金和净有效计算，其同类物业净收益分别增长了8.5％和5.5％。
租赁利差是在过去的12个月期间进行的，按净有效计算为71％，按现金计算为52％。
该公司预计，短期内杠杆率将在4倍至4.5倍的目标区间内降低。
该公司预计，2024年全年核心每股FFO指引在2.31美元至2.34美元之间。
注意到登记的流动性为21亿美元，包括10亿美元的循环资金、8.37亿美元的远期股权和1.85亿美元的现金。
Business Progress:
业务进展：
Rexford Industrial completed substantial leasing activity, covered around 3.2 million sq. ft. of space with favourable spreads.
It concluded $1 billion of acquisitions mostly via off-market transactions.
A pipeline of approximately $275 million acquisitions under contract, expected to generate an initial yield of 5%, was reported.
A large off-market portfolio from a combination of Blackstone-affiliated entities was procured valued near $1 billion.
The company disposed of a property for $10 million and documented $50 million of dispositions under contract currently.
An estimated 4.6 million sq. ft. of value-add repositioning and redevelopment within the next 18 months have been outlined.
A future growth of 11% to 13% three-year average annual core FFO per share growth through 2026 has been forecasted.
A new lease extension with Tireco until 2027 has been agreed upon that would ensure improved asset performance.
The company's cash same-property guidance for the year is set at 50%, with net effective guidance positioned at 60%.
Rexford Industrial's market rents have been outperforming the underwriting estimates.
The company plans to target around 20% to 25% of lease expirations for repositioning or redevelopment over the next 12 to 18 months.
雷克斯福德工业完成了大量租赁活动，占地约320万平方英尺，利差优惠。
它主要通过场外交易完成了10亿美元的收购。
据报道，根据合同正在进行约2.75亿美元的收购，预计初始收益率为5％。
从黑石集团旗下实体购买了价值近10亿美元的大型场外投资组合。
该公司目前以1000万美元的价格处置了一处房产，并根据合同记录了5000万美元的处置情况。
已经概述了未来18个月内估计有460万平方英尺的增值重新定位和重建。
预计到2026年，未来每股核心FFO的三年平均年增长率为11％至13％。
已经商定将与Tireco的新租约延长至2027年，这将确保改善资产表现。
该公司今年的现金同物业预期定为50％，净有效预期为60％。
雷克斯福德工业的市场租金表现一直超过承保预期。
该公司计划将约20％至25％的租约到期时间定为未来12至18个月的重新定位或重建。
More details: Rexford Industrial Realty Inc IR
更多详情： 雷克斯福德工业地产公司 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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译文内容由第三方软件翻译。