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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
RENTAL REVENUES        
Rental income $ 31,132 $ 26,119 $ 60,746 $ 49,618
Tenant reimbursements 5,172 4,119 10,327 7,677
Other income 115 259 347 572
TOTAL RENTAL REVENUES 36,419 30,497 71,420 57,867
Management, leasing and development services 145 111 271 245
Interest income 218 0 445 0
TOTAL REVENUES 36,782 30,608 72,136 58,112
OPERATING EXPENSES        
Property expenses 9,536 7,959 18,758 15,502
General and administrative 5,123 4,521 10,209 8,123
Depreciation and amortization 14,515 12,610 28,114 23,824
TOTAL OPERATING EXPENSES 29,174 25,090 57,081 47,449
OTHER EXPENSES        
Acquisition expenses 20 635 405 1,110
Interest expense 4,302 3,716 8,300 6,970
TOTAL OTHER EXPENSES 4,322 4,351 8,705 8,080
TOTAL EXPENSES 33,496 29,441 65,786 55,529
Equity in income from unconsolidated real estate entities 0 62 11 123
Loss on extinguishment of debt 0 0 (22) 0
Gains on sale of real estate 16,569 11,563 19,237 11,563
NET INCOME 19,855 12,792 25,576 14,269
Less: net income attributable to noncontrolling interest (531) (418) (663) (470)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC. 19,324 12,374 24,913 13,799
Less: preferred stock dividends (1,322) 0 (2,644) 0
Less: earnings allocated to participating securities (156) (75) (247) (153)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 17,846 $ 12,299 $ 22,022 $ 13,646
Net income available to common stockholders per share - basic and diluted (in dollars per share) $ 0.26 $ 0.19 $ 0.33 $ 0.23
Weighted average shares of common stock outstanding - basic (in shares) 67,920,773 64,063,337 67,135,319 59,666,468
Weighted average shares of common stock outstanding - diluted (in shares) 68,331,234 64,304,713 67,483,100 59,860,831
Dividends declared per common share (in dollars per share) $ 0.145 $ 0.135 $ 0.29 $ 0.270