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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
RENTAL REVENUES        
Rental income $ 36,748 $ 28,285 $ 97,494 $ 77,903
Tenant reimbursements 6,279 4,467 16,606 12,144
Other income 203 192 550 764
TOTAL RENTAL REVENUES 43,230 32,944 114,650 90,811
Management, leasing and development services 109 131 380 376
Interest income 0 228 445 228
TOTAL REVENUES 43,339 33,303 115,475 91,415
OPERATING EXPENSES        
Property expenses 11,229 8,978 29,987 24,480
General and administrative 5,843 5,067 16,052 13,190
Depreciation and amortization 17,971 13,341 46,085 37,165
TOTAL OPERATING EXPENSES 35,043 27,386 92,124 74,835
OTHER EXPENSES        
Acquisition expenses 16 380 421 1,490
Interest expense 6,271 3,804 14,571 10,774
TOTAL OTHER EXPENSES 6,287 4,184 14,992 12,264
TOTAL EXPENSES 41,330 31,570 107,116 87,099
Equity in income from unconsolidated real estate entities 0 1,328 11 1,451
Loss on extinguishment of debt 0 0 (22) 0
Gains on sale of real estate 0 0 19,237 11,563
NET INCOME 2,009 3,061 27,585 17,330
Less: net income attributable to noncontrolling interest (21) (63) (684) (533)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC. 1,988 2,998 26,901 16,797
Less: preferred stock dividends (1,322) (661) (3,966) (661)
Less: earnings allocated to participating securities (80) (70) (327) (223)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 586 $ 2,267 $ 22,608 $ 15,913
Net income available to common stockholders per share - basic and diluted (in dollars per share) $ 0.01 $ 0.03 $ 0.33 $ 0.26
Weighted average shares of common stock outstanding - basic (in shares) 72,621,219 65,707,476 68,984,047 61,694,835
Weighted average shares of common stock outstanding - diluted (in shares) 73,068,081 67,985,177 69,364,855 61,919,976
Dividends declared per common share (in dollars per share) $ 0.145 $ 0.135 $ 0.435 $ 0.405