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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Rental income $ 83,622 $ 67,020 $ 240,882 $ 190,237
Management, leasing and development services 118 90 325 301
Interest income 116 951 279 2,276
TOTAL REVENUES 83,856 68,061 241,486 192,814
OPERATING EXPENSES        
Property expenses 20,684 16,165 57,682 45,116
General and administrative 9,464 7,440 27,753 22,085
Depreciation and amortization 28,811 25,496 84,715 72,014
TOTAL OPERATING EXPENSES 58,959 49,101 170,150 139,215
OTHER EXPENSES        
Acquisition expenses 70 122 89 174
Interest expense 7,299 6,785 22,176 19,511
TOTAL EXPENSES 66,328 56,008 192,415 158,900
Gains on sale of real estate 13,669 895 13,669 5,705
NET INCOME 31,197 12,948 62,740 39,619
Less: net income attributable to noncontrolling interests (1,531) (518) (3,332) (1,288)
NET INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC. 29,666 12,430 59,408 38,331
Less: preferred stock dividends (3,636) (2,572) (10,909) (7,419)
Less: earnings allocated to participating securities (129) (112) (389) (339)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 25,901 $ 9,746 $ 48,110 $ 30,573
Net income attributable to common stockholders - basic (in dollars per share) $ 0.21 $ 0.09 $ 0.40 $ 0.29
Net income attributable to common stockholders - diluted (in dollars per share) $ 0.21 $ 0.09 $ 0.40 $ 0.29
Weighted average shares of common stock outstanding - basic (in shares) 123,548,978 109,645,216 119,153,997 104,653,218
Weighted average shares of common stock outstanding - diluted (in shares) 123,843,977 110,074,074 119,424,927 105,014,124