Rexford Industrial Realty (REXR)
NYSE:REXR
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Earnings Data
Report Date
Jul 22, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.29Last Year’s EPS
0.48Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call balanced meaningful operational and capital-allocation wins (record leasing volume, aggressive share buybacks, improved guidance, strong liquidity and a sizable development/repositioning pipeline) against persistent market headwinds (negative cash re-leasing spreads driven by a large renewal, rising vacancy, quarter-over-quarter rent declines, elevated bad debt and slower demand for larger/Class A product). Management’s disciplined capital recycling and operational focus drove outperformance and a modest raise to guidance, but near-term fundamentals remain mixed and will require continued execution for sustained recovery.Company Guidance
Record Leasing Activity
Executed a record 4.1 million square feet of leases in Q1 (144 deals, average ~29,000 sq ft; ~70% of leases were renewals). Leasing activity for the Rexford portfolio was over 70% higher year-over-year and current leasing interest on vacant spaces rose to ~90% (vs ~75% last quarter and a year ago). Momentum accelerated through the back half of the quarter.
Share Repurchases and Capital Recycling
Executed $200 million of share repurchases in Q1 at a weighted average price of $36; cumulative buybacks since mid-2025 totaled $450 million. Dispositions closed of $144 million with an additional ~$170 million under contract/accepted offer, enabling redeployment into accretive buybacks. Management expects total disposition activity for the year in the $400M–$500M range and views buybacks as a high-return use of capital.
Improved Guidance and Financial Results
Raised full-year Core FFO per share midpoint by $0.02 following Q1 outperformance. Q1 Core FFO per share was $0.61, $0.01 above internal forecast and $0.02 higher sequentially. Same-property NOI growth was +90 basis points on a net effective basis. Average same-property occupancy guidance increased to 95.1%–95.6% (up ~30 bps at midpoint).
Strong Balance Sheet and Liquidity Position
Ended the quarter with net debt to adjusted EBITDA of 4.5x, total liquidity of $1.3 billion, and no significant near-term maturities, providing flexibility to pursue buybacks, selective development and repositionings.
Operational Discipline and G&A Savings
Management highlighted progress in operational rigor, prioritizing occupancy, reducing downtime, and targeting G&A below peer average. Lower G&A contributed to the sequential Core FFO per share improvement.
Pipeline of Value-Creating Development/Repositioning
Forecast to stabilize and commence rent on ~1.1 million sq ft of value-add projects in 2026 generating ~$17 million of annualized NOI (majority in H2). Management cites a broader pipeline representing roughly $50 million of NOI poised to come online over the next 2+ years, expected to offset near-term rent resets over time.
Strong Pricing on User Sales
Sold three operating assets to users at blended cap rates below 4%, capturing premium valuations and enabling accretive capital recycling into buybacks.
REXR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
REXR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 23, 2026 | $36.33 | $35.47 | -2.37% |
Feb 04, 2026 | $40.84 | $38.20 | -6.45% |
Oct 15, 2025 | $41.16 | $42.08 | +2.25% |
Jul 16, 2025 | $35.08 | $34.22 | -2.45% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Rexford Industrial Realty (REXR) report earnings?
Rexford Industrial Realty (REXR) is schdueled to report earning on Jul 22, 2026, After Close (Confirmed).
What is Rexford Industrial Realty (REXR) earnings time?
Rexford Industrial Realty (REXR) earnings time is at Jul 22, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is REXR EPS forecast?
REXR EPS forecast for the fiscal quarter 2026 (Q2) is 0.29.