# Rexford Raises 2026 Core FFO Guidance After Q3 Revenue Falls

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/39097
Published: 2026-10-23T15:39:43.000Z
Updated: 2026-10-23T15:39:43.000Z
Section: Business

> The company also lifted its cash same-property NOI growth outlook while projecting a larger full-year net loss.

Rexford Industrial Realty, Inc. raised its 2026 forecast for company share of Core Funds From Operations (Core FFO) after third-quarter revenue fell from a year earlier, lifting a key earnings measure while projecting a larger full-year net loss.

The revised Core FFO range is $2.41-$2.44 per diluted share, up from $2.38-$2.43. Rexford also moved its cash same-property net operating income (NOI) growth forecast to 0.25%-0.75%, from a range of negative 0.75%-0.25%. Its 2026 net-loss guidance now calls for $1.52-$1.55 per diluted share, compared with $1.27-$1.32 previously.

Revenue for the quarter ended Sept. 30, 2026, was $239.1 million, down from $253.2 million in the same period in 2025. Company share of Core FFO was $0.60 per diluted share, unchanged from a year earlier.

Rexford's same-property NOI declined 2.6% year over year, while cash NOI fell 1.1%. Occupancy in the same-property portfolio reached 96.9% as of Sept. 30, up 200 basis points from June 30. The company completed 3,738,378 square feet of new and renewal leases during the quarter. Comparable rents rose 7.1% on a net effective basis but fell 3% on a cash basis against prior rents.

Net income for common stockholders fell to $14.6 million ($0.07 per diluted share) from $87.1 million ($0.37 per diluted share) a year earlier. The quarter included $71.8 million in real estate impairments and $23.2 million in gains on property sales.

“Our third quarter performance reflects strong execution across our strategic priorities,” Rexford CEO Laura Clark said.

Rexford is a real estate investment trust focused on infill properties in Southern California. Core FFO is a non-GAAP measure defined as funds from operations adjusted for items considered non-comparable. It is supplemental information to be considered alongside net income or loss under generally accepted accounting principles. The updated Core FFO range and net-loss guidance track different measures: one rose while the other projected a larger loss.