Rexford Industrial Realty (REXR) AI Stock Analysis

• Market Cap: $8.75B
• Dividend Yield: 4.65%
• Average Volume (3M): 2.81M
• Price to Earnings (P/E): 30.0
• Beta (1Y): 0.91
• Revenue Growth: 18.02%
• EPS Growth: 12.12%
• Country: US
• Employees: 271
• Sector: Real Estate
• Sector Strength: 56
• Industry: REIT - Industrial
• EPS (TTM): 0.30
• Shares Outstanding: 236,685,040
• 10 Day Avg. Volume: 2,785,109
• 30 Day Avg. Volume: 2,811,571
• PEG Ratio: 1.27
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 48.36
• Enterprise Value/Market Cap: 0.80
• Enterprise Value/Revenue: 1.89
• Enterprise Value/Gross Profit: 10.12
• Enterprise Value/Ebitda: 2.74
• 1Y Price Target: $38.75
• Price Target Upside: 5.50% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12

• Rating: 77 Outperform
• Price Target: $41.00 ▲(11.63%Upside)

Rexford Industrial Realty scores well due to its strong financial performance and strategic liquidity management. While technical indicators show mixed signals, the company's ability to manage leverage and sustain growth is promising. Despite valuation concerns and external challenges like declining market rents, the company's robust leasing performance and credit facility provide a solid foundation for future growth.

Positive Factors

Cash Flow Growth

The company's revised materials suggest a potential 40% cash flow growth, highlighting disciplined capital allocation.

Financial Stability

Rexford has a low debt-to-total market capitalization ratio at approximately 27.5%, indicating strong financial stability.

Stock Repurchase Program

REXR authorized a $300M stock repurchase program.

Negative Factors

Leasing Activity

Leasing activity, particularly for new leases, was light, with no repositioning and redevelopment leasing completed.

Market Rent Decline

Market rents fell -8.0% year-over-year.

Occupancy Challenges

Short-term occupancy challenges exist for the company, with expected declines due to tenant move-outs.

Rexford Industrial Realty Business Overview & Revenue Model

Company Description

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet.

How the Company Makes Money

Rexford Industrial Realty generates revenue primarily through leasing its extensive portfolio of industrial properties to a diverse tenant base. The company's revenue model is centered around collecting rental income from long-term leases, which are often structured with annual rent escalations, providing a stable and predictable cash flow. Additionally, Rexford enhances its earnings by actively managing and improving its properties, which can lead to increased occupancy rates and higher rental rates. The company may also engage in strategic acquisitions of industrial properties to expand its portfolio and increase its market presence, as well as disposing of non-core assets to recycle capital into higher-yielding opportunities. Rexford's ability to identify and capitalize on investment opportunities in high-demand markets is a critical factor contributing to its revenue growth.

Rexford Industrial Realty Financial Statement Overview

Summary

Rexford Industrial Realty exhibits robust financial performance with strong income growth, stable balance sheet metrics, and effective cash flow management. The company maintains a healthy profit margin and a conservative debt profile, supporting future expansion and value creation.

Income Statement

Rexford Industrial Realty shows a strong performance in income growth. The gross profit margin is healthy at 70.7% for TTM, and the net profit margin stands at 28.5%, indicating efficient management and cost control. Revenue growth is robust, with a 22.9% increase from 2023 to 2024. The EBIT and EBITDA margins are also strong at 38.8% and 69.2% respectively, reflecting solid operational efficiency. The company has consistently improved revenue and profit margins over the past few years.

Balance Sheet

The balance sheet of Rexford Industrial Realty reflects a stable financial position. The debt-to-equity ratio is 0.40, indicating a conservative use of debt in financing its operations. The return on equity (ROE) is a healthy 3.2% for TTM, showing the company's ability to generate profits from its equity base. The equity ratio is 67.3%, which implies a strong equity position relative to its assets. Overall, the company maintains a cautious approach to leverage and sustains a strong equity base.

Cash Flow

Rexford Industrial Realty demonstrates solid cash flow management. The free cash flow growth rate is 18.5%, highlighting efficient capital expenditure management and operational cash generation. The operating cash flow to net income ratio is 1.79, indicating robust cash generation relative to accounting profits. The free cash flow to net income ratio of 0.45 suggests that a significant portion of income is converted into free cash flow, supporting ongoing investments and dividend payments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	81.96M	936.41M	797.83M	631.20M	452.24M	330.13M
Gross Profit	59.95M	726.15M	613.35M	480.70M	344.52M	250.42M
EBITDA	45.15M	659.77M	538.32M	414.88M	327.65M	213.62M
Net Income	-189.00K	273.80M	238.02M	167.58M	89.40M	45.55M
Balance Sheet
Total Assets	13.09B	12.65B	10.93B	9.26B	6.78B	4.95B
Cash, Cash Equivalents and Short-Term Investments	504.58M	55.97M	33.44M	36.79M	43.99M	176.29M
Total Debt	3.48B	3.49B	2.23B	1.94B	1.40B	1.22B
Total Liabilities	3.91B	3.92B	2.79B	2.34B	1.71B	1.42B
Stockholders Equity	8.80B	8.32B	7.77B	6.56B	4.78B	3.25B
Cash Flow
Free Cash Flow	13.64M	105.53M	160.98M	192.60M	128.99M	104.23M
Operating Cash Flow	32.95M	478.92M	427.55M	327.69M	231.46M	182.99M
Investing Cash Flow	-330.12M	-1.84B	-1.68B	-2.45B	-1.91B	-987.52M
Financing Cash Flow	297.88M	1.38B	1.25B	2.11B	1.55B	903.20M

Rexford Industrial Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 36.73
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• 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 36.73 is above the 20-day moving average (MA) of 36.31, above the 50-day MA of 35.18, and below the 200-day MA of 38.80, indicating a neutral trend. The MACD of 0.41 indicates Negative momentum. The RSI at 57.09 is Neutral, neither overbought nor oversold. The STOCH value of 74.74 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
STAG	77 Outperform	$6.94B	27.48	7.15%	4.09%	8.81%	33.30%
REXR	77 Outperform	$8.75B	30.02	3.35%	4.65%	18.02%	12.12%
FR	74 Outperform	$6.62B	24.07	10.18%	3.67%	9.18%	-7.05%
EGP	71 Outperform	$8.79B	36.56	7.61%	3.33%	11.92%	-0.83%
TRNO	67 Neutral	$5.87B	28.70	5.33%	3.45%	22.17%	4.34%
LXP	67 Neutral	$2.47B	42.67	2.98%	6.47%	5.68%	358.78%
Sector *	63 Neutral	$6.92B	18.42	-1.93%	6.88%	4.65%	-25.39%

Rexford Industrial Realty Corporate Events

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.

The most recent analyst rating on (REXR) stock is a Buy with a $54.00 price target. To see the full list of analyst forecasts on Rexford Industrial Realty stock, see the REXR Stock Forecast page.

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.

The most recent analyst rating on (REXR) stock is a Buy with a $54.00 price target. To see the full list of analyst forecasts on Rexford Industrial Realty stock, see the REXR Stock Forecast page.

Rexford Industrial Realty Reports Strong Q1 2025 Results

Rexford Industrial Realty announced its financial results for the first quarter of 2025, reporting a net income of $68.3 million, an increase from the previous year. The company executed 2.4 million rentable square feet of new and renewal leases, with rental rates significantly increasing. The company also sold two properties, generating a substantial unlevered IRR. Rexford’s strong performance highlights its robust platform and strategic execution, positioning it well despite macroeconomic uncertainties.

Rexford Industrial Realty Chairman Announces Retirement

On April 9, 2025, Rexford Industrial Realty announced that Richard Ziman, the Chairman of the Board, will retire and not seek reelection at the 2025 annual meeting of stockholders. Following his retirement, the board will reduce its size to seven directors, with Ziman’s departure not stemming from any disagreements with the company’s operations or policies.