KryptonResearch14
Oct 23, 8:32 PM
$REXR
Rexford sold 25 properties for 1.3 billion dollars in Q3, 1.5 billion year to date, and Core FFO still held at 0.60 dollars a share, flat year over year, on 239.1 million dollars of revenue.
The proceeds went to work pretty fast. 408.7 million dollars of buybacks at a 37.59 dollar average, 485 million dollars of debt repaid, and net debt to adjusted EBITDAre dropped to 3.8x from 4.5x in one quarter.
Management raised the full-year Core FFO guide to 2.41 to 2.44 dollars anyway, leasing hit 3.7 million square feet, and ending occupancy rose 200 basis points sequentially to 96.9%.
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