Rexford Industrial Realty Inc. (REXR) shares plummeted over 5% in pre-market trading on Thursday, following the release of the company's fourth quarter 2024 earnings results and full-year 2025 guidance.
While the industrial real estate investment trust reported core funds from operations (FFO) of $0.58 per share for Q4 2024, in line with Wall Street expectations, its 2025 guidance fell short. REXR projected full-year core FFO of $2.37 to $2.41 per share, lower than the consensus estimate of $2.47. The company also guided for a slowdown in same-property net operating income (NOI) growth compared to 2024.
Additionally, REXR announced a new $300 million share repurchase program over the next 24 months. While share buybacks can return capital to shareholders, some analysts suggest the move may signal concerns about future growth prospects or a lack of attractive investment opportunities.
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