REXR and PLD Update Q2 2024

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There were no big surprises in the numbers for Prologis (PLD) or Rexford (REXR).

Guidance was nearly unchanged. Here are the changes:

• PLD: Tightened range for Core FFO excluding net promote income. Old range: $5.45 to $5.55. New range: $5.46 to $5.54. Same midpoint at $5.50.

• REXR: Raised bottom end of range for Core FFO. Old range: $2.31 to $2.34. New range: $2.32 to $2.34. Midpoint increased $.005 to $2.33. 

Note: We don’t care about guidance for net income. We already have Core FFO, which is a superior metric for analysis.

The Full Article

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REXR and PLD Update Q2 2024