Rexford Industrial Realty (REXR) AI Stock Analysis

• Market Cap: $9.83B
• Dividend Yield: 4.08%
• Average Volume (3M): 2.77M
• Price to Earnings (P/E): 30.9
• Beta (1Y): 0.91
• Revenue Growth: 13.66%
• EPS Growth: 11.34%
• Country: US
• Employees: 271
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): 0.48
• Shares Outstanding: 236,672,040
• 10 Day Avg. Volume: 2,606,475
• 30 Day Avg. Volume: 2,774,680
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.20
• Enterprise Value/Revenue: 12.00
• Enterprise Value/Gross Profit: 15.47
• Enterprise Value/Ebitda: 16.87
• 1Y Price Target: $41.58
• Price Target Upside: 1.14% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 12

• Rating: 76 Outperform
• Price Target: $47.00 ▲(14.33% Upside)

Rexford Industrial Realty's overall stock score reflects its strong financial performance and positive technical indicators, tempered by valuation concerns and macroeconomic challenges. The company's robust financial health and strategic initiatives position it well for future growth, but potential overvaluation and market uncertainties warrant caution.

Positive Factors

Revenue Growth

Strong revenue growth indicates robust demand for REXR's industrial properties, driven by e-commerce and supply chain trends, supporting long-term business expansion.

Strategic Repositioning

Successful repositioning and redevelopment enhance property value and tenant appeal, strengthening REXR's competitive position in key markets.

Financial Stability

Strong liquidity and low leverage provide REXR with financial flexibility to pursue growth opportunities and withstand market fluctuations.

Negative Factors

Decline in Market Rents

Falling market rents could pressure REXR's revenue and profitability, challenging its ability to maintain growth and lease spreads.

Macroeconomic Uncertainty

Economic uncertainties may affect tenant leasing decisions, potentially slowing REXR's lease-up times and impacting revenue stability.

No New Acquisitions

Lack of new acquisitions could limit REXR's growth prospects and ability to capitalize on market opportunities, affecting long-term expansion.

Rexford Industrial Realty Business Overview & Revenue Model

Company Description

Rexford Industrial Realty (REXR) is a leading real estate investment trust (REIT) that specializes in the acquisition, development, and management of industrial properties in Southern California. The company focuses on logistics and distribution facilities that cater to the growing demand for e-commerce and supply chain services. REXR's portfolio includes a diverse range of properties, primarily situated in infill markets, which provide strategic advantages for its tenants in terms of accessibility and operational efficiency.

How the Company Makes Money

Rexford Industrial Realty generates revenue primarily through leasing its industrial properties to a variety of tenants, including logistics and distribution companies. The company's revenue model is based on long-term lease agreements that provide stable and predictable cash flows. Key revenue streams include rental income from these leases, as well as potential income from property management services. Additionally, REXR benefits from strategic partnerships with tenants that may involve co-development or build-to-suit projects, further enhancing its earnings potential. The demand for industrial space, driven by trends in e-commerce and supply chain logistics, also significantly contributes to the company's revenue growth.

Rexford Industrial Realty Financial Statement Overview

Summary

Rexford Industrial Realty exhibits strong financial health, driven by impressive revenue growth and profitability. The balance sheet is well-managed with moderate leverage, and cash flow generation is solid. However, there is potential for enhancing free cash flow efficiency.

Income Statement

Rexford Industrial Realty demonstrated strong revenue growth, with a notable increase from $631.2 million in 2022 to $986.5 million in TTM 2025. Gross profit margins remained robust, consistently above 75%. The net profit margin improved to approximately 32.2% in TTM 2025, indicating enhanced profitability. EBIT and EBITDA margins also showed strength, highlighting operational efficiency.

Balance Sheet

The company's balance sheet is solid, with a debt-to-equity ratio of 0.39 in TTM 2025, reflecting prudent leverage. The return on equity (ROE) is strong, at around 3.6%, showcasing effective utilization of equity. The equity ratio of 67.6% indicates a healthy proportion of equity financing, contributing to financial stability.

Cash Flow

Cash flow performance is stable, with free cash flow growing from $105.5 million in 2024 to $153.5 million in TTM 2025. The operating cash flow to net income ratio is robust at 1.65, indicating good cash generation. However, the free cash flow to net income ratio is moderate at 0.48, suggesting room for improvement in free cash flow efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	986.53M	936.41M	797.83M	631.20M	452.24M	330.13M
Gross Profit	765.10M	726.15M	613.35M	480.70M	344.52M	250.42M
EBITDA	701.70M	614.10M	506.81M	383.67M	279.78M	202.97M
Net Income	317.49M	273.80M	238.02M	167.58M	128.24M	76.40M
Balance Sheet
Total Assets	13.08B	12.65B	10.93B	9.26B	6.78B	4.95B
Cash, Cash Equivalents and Short-Term Investments	431.12M	55.97M	33.44M	36.79M	43.99M	176.29M
Total Debt	3.35B	3.35B	2.23B	1.94B	1.40B	1.28B
Total Liabilities	3.88B	3.92B	2.79B	2.34B	1.71B	1.42B
Stockholders Equity	8.84B	8.32B	7.77B	6.56B	4.78B	3.25B
Cash Flow
Free Cash Flow	153.49M	105.53M	160.98M	192.60M	128.99M	104.23M
Operating Cash Flow	524.21M	478.92M	427.55M	327.69M	231.46M	182.99M
Investing Cash Flow	-502.74M	-1.84B	-1.68B	-2.45B	-1.91B	-987.52M
Financing Cash Flow	414.02M	1.38B	1.25B	2.11B	1.55B	903.20M

Rexford Industrial Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 41.11
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For REXR, the sentiment is Positive. The current price of 41.11 is below the 20-day moving average (MA) of 41.93, above the 50-day MA of 39.54, and above the 200-day MA of 37.24, indicating a neutral trend. The MACD of 0.43 indicates Positive momentum. The RSI at 58.64 is Neutral, neither overbought nor oversold. The STOCH value of 25.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for REXR.

Rexford Industrial Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
EGP	77 Outperform	$9.18B	36.50	6.94%	3.34%	11.22%	-3.16%
REXR	76 Outperform	$9.83B	30.90	3.74%	4.08%	13.66%	11.34%
TRNO	76 Outperform	$5.96B	22.59	6.45%	3.45%	22.17%	40.80%
FR	74 Outperform	$7.11B	25.17	10.25%	3.27%	9.66%	-4.60%
STAG	73 Outperform	$6.82B	27.93	6.80%	4.16%	8.56%	22.20%
LXP	69 Neutral	$2.78B	32.38	4.24%	5.74%	6.64%	210.89%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%

Rexford Industrial Realty Corporate Events

Rexford Industrial Realty Announces $1.25B Stock Offering

On July 22, 2025, Rexford Industrial Realty, Inc. and its Operating Partnership entered into equity distribution agreements with BMO Capital Markets Corp., Bank of Montreal, BNP Paribas Securities Corp., and BNP PARIBAS for the sale of up to $1.25 billion in common stock through ‘at the market’ offerings. Additionally, an omnibus amendment was made to existing agreements to include these new participants. As of that date, $322.6 million in stock had been sold, leaving $927.4 million available for future sales, reflecting the company’s strategic move to enhance its capital structure and market presence.

Rexford Industrial Realty Updates Tax Considerations

On October 23, 2023, Rexford Industrial Realty filed a Registration Statement with the SEC, updating its U.S. Federal Income Tax Considerations. This filing outlines the tax implications of its REIT status and the ownership of its securities, emphasizing the complexity and potential changes in tax laws that could impact its REIT qualification and tax obligations. The company has been advised by Latham & Watkins LLP on its REIT status since 2013, but there is no guarantee that its tax considerations will remain unchallenged by the IRS.

Rexford Industrial Realty Q2 2025 Financial Results Surge

Rexford Industrial Realty announced its financial results for the second quarter of 2025, reporting a net income of $113.4 million, up from $79.8 million in the same quarter the previous year. The company executed 1.7 million square feet of new and renewal leases, with rental rates increasing significantly, and maintained a strong occupancy rate. Additionally, Rexford sold two properties for $81.6 million, achieving a 12.8% unlevered IRR, and ended the quarter with a robust balance sheet, highlighted by a low leverage ratio and substantial liquidity.

Rexford Industrial Realty Appoints New Chairman

On June 3, 2025, Rexford Industrial Realty held its Annual Meeting of Stockholders, where key proposals were approved, including the election of directors and the ratification of KPMG LLP as the independent accounting firm for 2025. Additionally, Tyler H. Rose was appointed as the new Chairman of the Board, succeeding Richard Ziman, who retired. Mr. Rose, with extensive experience in the real estate industry, has been an independent director since 2015 and will continue to contribute to the company’s strategic direction.

Rexford Industrial Realty Secures $1.25 Billion Credit Facility

On May 30, 2025, Rexford Industrial Realty, Inc. and its borrowing entity entered into a Fifth Amended and Restated Credit Agreement with Bank of America and other lenders, establishing a $1.25 billion revolving credit facility and a $700 million term loan facility. This agreement, which includes sustainability-linked pricing and various financial covenants, aims to enhance the company’s financial flexibility and support its strategic growth initiatives in the competitive industrial real estate market.