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Rexford Industrial Realty, Inc.

REXR Real Estate Reit Industrial

Rexford Industrial Realty, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.0 billion, up 7.13% from fiscal 2024.

Revenue
−5.58%
EPS
−81.1%
Free cash flow
+58.3%
Total debt
−14.8%

Quarter to September 2026, against a year earlier

37.96 0.19 −0.50%
Market cap
$8.1B
P/E
0.0×
Fwd P/E
−29.2×
Dividend yield
4.56%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Bought, $m 0.49
Sold, $m 3.53
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 3 — — — — — — — — —
Sell 2 — — — 1 — — — — — — —
Insider Ownership 4.16%

Capital & Financial Ratios $m

Size
Market Cap 8,090.00
Revenue ttm 977.78
Net income ttm (478.91)
Free cash flow ttm 262.41
Net debt Q 2,343.61
Valuation
P/E 0.00
Forward P/E (29.20) (negative: loss-making)
Price / sales 8.59
Forward P/S Powerpack
Price / FCF 31.99
Price / book 1.14
Financial health
Current ratio Q 4.08
Debt / equity Q 0.37
Interest coverage Q 3.80
Growth
Revenue growth Q −5.58% (below 0%: shrinking)
Operating income growth Q +0.09% (above 0%: growing)
EPS, this year −280.64% (below 0%: weak)
EPS, next year A +182.42% (at or above 15%: strong)
Revenue, next year A −5.22% (below 0%: weak)
EPS, past 5 yrs +11.02%
EPS, next 5 yrs A +14.72%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 11.0×, against a ten-year median of 17.4×; over the ten years it ranged from 10.6× in 2026 to 28.4× in 2022.
P/S against its own 10 years 7.66%
10-year low 10-year high
P/B against its own 10 years 18.81%
10-year low 10-year high
EV/Sales against its own 10 years 2.60%
10-year low 10-year high
EV/FCF against its own 10 years 0.73%
10-year low 10-year high

Dividends raised 7 years running

Yield
4.56%
Annual rate
1.74
Payout ratio
—
Growth, 2017–25
+7.75%/yr
  1. 0.95 ’17
  2. 0.64 ’18 −32
  3. 0.74 ’19 +16
  4. 0.86 ’20 +16
  5. 0.96 ’21 +12
  6. 1.26 ’22 +31
  7. 1.52 ’23 +21
  8. 1.67 ’24 +10
  9. 1.72 ’25 +3
  10. 1.74 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 33 56 166 424
Receivables 140 139 138 140
Inventory — — — —
Other — — — —
174 195 303 563
2023 2024 2025 Q'26
Payables 129 150 121 138
ST’ Debt — — — —
Other — — — —
129 150 121 138

Compound Annual Growth %

10y 5y 3y
Sales 26.73% 24.89% 16.70%
Cash Flow 29.61% 24.26% 18.27%
Earnings 61.57% 26.68% 8.32%
Book Value 28.98% 20.14% 8.48%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.60 Actual 0.60

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.58 0.59 Beat by 0.01
Q1 FY26 0.60 0.61 Beat by 0.01
Q2 FY26 0.60 0.63 Beat by 0.03
Q3 FY26 0.60 0.60 Met by 0.00
Q4 FY26 0.57 — Reports 3 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.38 (2.26) 0.07 — —
’25 0.30 0.48 0.37 (0.30) 0.86
’24 0.27 0.37 0.30 0.27 1.20
’23 0.30 0.26 0.27 0.29 1.12
’22 0.27 0.22 0.21 0.22 0.92
’21 0.19 0.15 0.23 0.23 0.80
’20 0.09 0.10 0.21 0.10 0.51
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 245 246 239 — —
’25 252 250 253 248 1,003
’24 214 238 242 243 936
’23 186 196 205 210 798
’22 141 149 163 179 631
’21 100 104 115 133 452
’20 78 80 84 89 330
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 141 107 152 — —
’25 153 128 150 112 542
’24 134 102 127 116 479
’23 120 83 109 116 428
’22 92 71 98 67 328
’21 36 65 78 52 231
’20 46 25 75 36 183
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 78 59 96 — —
’25 73 45 60 30 209
’24 54 17 7 28 106
’23 75 35 34 17 161
’22 64 43 63 22 193
’21 13 39 56 21 129
’20 31 7 51 15 104
Fiscal quarters ending in the months shown.

Valuation

The price implies FFO a share growing 3.8% a year for ten years. It grew 10.2% a year over the last ten.

Implied
3.8%
10 years, reported
10.2%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 126 161 212 267 330 452 631 798 936 1,003 978 +25.9% 951 887 903 (3.5%)
Gross margin, % 73.36 73.88 75.68 76.32 75.85 76.18 76.16 76.88 77.55 77.30 76.55 +3.9 pt
EBT 26 12 47 64 81 136 177 250 286 220 (479) +26.8%
EBT margin, % 20.51 7.49 22.15 23.95 24.50 30.13 28.07 31.28 30.53 21.91 (48.98) +1.4 pt
Net income 26 42 47 64 81 136 177 250 286 220 (479) +26.8%
Per share, $
Per share, $ Revenue 2.01 2.27 2.45 2.51 2.73 3.25 3.70 3.93 4.29 4.32 4.43 +8.8%
Earnings 0.36 0.48 0.42 0.47 0.51 0.80 0.92 1.12 1.20 0.86 (2.11) +10.2%
Cash flow 0.90 1.08 1.18 1.31 1.51 1.66 1.92 2.11 2.19 2.33 2.32 +11.2%
Capex (0.51) (0.59) (0.67) (0.44) (0.65) (0.74) (0.79) (1.31) (1.71) (1.43) (1.13) +12.2%
Free cash flow 0.39 0.48 0.52 0.87 0.86 0.93 1.13 0.79 0.48 0.90 1.19 +9.7%
Book value 15.34 19.18 21.98 24.65 29.21 36.38 40.61 40.14 39.98 38.02 34.08 +10.6%
Shares, m 63 71 87 106 121 139 170 203 218 232 226 +15.7%
Valuation, ×
Valuation, × P/E 66.51 60.46 70.17 97.17 96.29 101.39 59.03 50.28 31.95 45.55 0.00 67.9
P/S 11.57 12.81 12.04 18.19 17.98 24.98 14.67 14.32 9.01 8.97 8.59 14.5
P/B 1.67 1.71 1.46 2.04 1.81 2.30 1.37 1.43 0.98 1.04 1.14 1.6
EV/Sales 15.41 16.91 14.76 21.10 21.13 27.98 17.68 17.07 12.53 12.05 10.98 17.7
EV/FCF 79.37 79.46 69.95 61.06 66.92 98.10 57.93 84.59 111.15 57.93 40.92 76.6
Cash, $m
Cash, $m Operating cash flow 56 77 103 140 183 231 328 428 479 542 511 +28.6%
Capex (32) (42) (58) (47) (79) (102) (135) (267) (373) (333) (249) +29.8%
Free cash flow 25 34 45 92 104 129 193 161 106 209 262 +26.9%
Balance, $m
Balance, $m Working capital 11 (11) 164 54 142 (11) (45) 45 45 183 425 +37.2%
Net debt 485 662 577 779 1,039 1,356 1,900 2,192 3,290 3,086 2,344 +22.8%
Shareholders’ equity 962 1,365 1,908 2,622 3,531 5,068 6,923 8,144 8,726 8,838 7,515 +27.9%
Returns, %
Returns, % ROA 1.71 1.90 1.48 1.57 1.43 1.91 1.96 2.25 2.23 1.58 (4.00) (0.1) pt
ROIC 1.03 1.01 1.40 1.37 1.35 1.40 1.56 1.78 1.92 2.00 2.47 +1.0 pt
ROE 2.91 3.31 2.45 2.44 2.16 2.73 2.70 3.08 3.17 2.32 (5.82) (0.6) pt
People
People Employees 90 98 108 123 147 186 223 242 271 256 — +12.3%
Revenue/emp, $m 1.40 1.65 1.97 2.17 2.25 2.43 2.83 3.30 3.46 3.92 — +12.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Rexford Industrial Realty is a real estate investment trust, or REIT, that owns, operates and acquires industrial properties in Southern California. It leases space to businesses in infill markets: established areas where vacant land and land available for development are scarce. Its tenants operate across industries including manufacturing, logistics, healthcare and food and beverage.

Rexford acquires, improves, develops, leases and manages properties through its operating partnership and subsidiaries. It is the sole general partner of that operating partnership. Its work can involve renovating an older building, adding loading access or dividing a property designed for one tenant into smaller spaces for several tenants. It also selectively constructs new industrial buildings and occasionally invests in mortgage debt secured by industrial property.

Rexford Industrial Realty, Inc. vs peers in Reit Industrial (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
EGP EastGroup Properties, Inc. $10.4B 32.9× 32.7× +9.50% (above 0%: growing) +15.87% (above 0%: growing) +22.82% (above 0%: growing) 74.02% 41.57% Compare
CUBE CubeSmart $10.2B 29.8× 27.9× +3.12% (above 0%: growing) +16.11% (above 0%: growing) −5.37% (below 0%: shrinking) 67.42% 42.77% Compare
LINE Lineage, Inc. $9.0B — (loss-making) — (loss-making) +0.81% (above 0%: growing) n/m +91.92% (above 0%: growing) 31.23% 3.97% Compare
REXR Rexford Industrial Realty, Inc. $8.1B — (loss-making) — (loss-making) −5.58% (below 0%: shrinking) −81.08% (below 0%: shrinking) +58.30% (above 0%: growing) 76.16% 39.41%
FR First Industrial Realty Trust, Inc. $7.4B 20.1× 21.7× +8.65% (above 0%: growing) −10.20% (below 0%: shrinking) −240.72% (below 0%: shrinking) 74.45% 44.21% Compare
TRNO Terreno Realty Corporation $7.3B 19.9× 33.2× +13.74% (above 0%: growing) −38.00% (below 0%: shrinking) +118.95% (above 0%: growing) 75.26% 42.18% Compare
STAG Stag Industrial, Inc. $7.1B 26.1× 33.6× +9.44% (above 0%: growing) +44.00% (above 0%: growing) +2,111.22% (above 0%: growing) 79.99% 38.36% Compare
COLD Americold Realty Trust Inc. $4.5B 19.0× — (loss-making) +4.20% (above 0%: growing) n/m +237.07% (above 0%: growing) 32.79% 107.39% Compare
SMA Smartstop Self Storage REIT Inc $2.3B 75.1× 54.8× +18.65% (above 0%: growing) n/m +93.06% (above 0%: growing) 60.10% 22.55% Compare
Median of peers $7.4B 26.1× 33.0× +9.05% +15.87% +92.49% 70.72% 41.88%

All 14 Reit Industrial stocks →

From the latest earnings call

Updated

  • CEO Laura Clark said leasing accelerated and same-property occupancy rose sequentially, while Rexford advanced its portfolio realignment with a $1.2 billion sale.
  • CFO Michael Fitzmaurice said Rexford raised its full-year core FFO outlook following better-than-expected leasing and lower anticipated bad debt.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 105.57%
Held by the ten largest 67.95%
Holder Shares Stake Change
BlackRock 38.60m 17.31% −16.89k
Vanguard 31.74m 14.23% −444.12k
T. Rowe Price 28.11m 12.61% −1.07m
Capital Group 11.78m 5.28% −2.78m
Principal Financial 11.00m 4.94% −465.80k
State Street 10.89m 4.88% −390.68k
MFS Investment Management 6.42m 2.88% +1.19m
Geode Capital Management 4.80m 2.15% −88.89k
JPMorgan Chase 4.61m 2.07% +1.79m
Charles Schwab 3.57m 1.60% +103.08k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 8 April 2026

Ownership

Directors and executive officers, together 1.80%
T. Rowe Price Associates, Inc. 11.30%
BlackRock, Inc. 11.30%
Capital International Investors 9.10%
State Street Corporation 4.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Rexford Industrial Realty, Inc. (REXR) Latest News

25 Oct

Impact 4 · · The Motley Fool

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · Moby transcript
Impact 4 · · Simply Wall St.

22 Oct

Impact 4 · · PR Newswire
Impact 3 · · Zacks
Impact 3 · · Associated Press

22 Sep

Impact 3 · · credaily.com

18 Sep

Impact 4 ·

17 Sep

Impact 4 ·
Impact 4 ·

24 Jul

Impact 4 · transcript
Impact 4 ·
Impact 3 · · MarketBeat
Impact 3 · · Moby transcript

23 Jul

Impact 3 ·

27 Apr

Impact 4 · · Simply Wall St.
Impact 4 · · MarketBeat

25 Apr

Impact 4 · · GuruFocus.com

24 Apr

Impact 4 · · Moby

23 Apr

Impact 4 · · Zacks
Impact 3 · · PR Newswire

21 Apr

Impact 4 · · The Motley Fool transcript

2 Apr

Impact 3 · · Zacks

1 Apr

Impact 3 · · PR Newswire

19 Mar

Impact 3 · · Insider Monkey

8 Feb

Impact 4 · · Simply Wall St.

7 Feb

Impact 4 · · MarketBeat transcript

REXR metrics, ten years each

stockrow.com/REXR · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com