REXR Real Estate

Rexford Industrial Realty, Inc.

$38.28-0.80%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Real Estate
Industry: REIT - Industrial
Country: United States
Market cap: 8.8B USD
Enterprise value: 11.4B USD
Full-time employees: 256

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.20 vs a peer median of 0.75) and less short-term liquidity (current ratio 0.34 vs a peer median of 1.20)higher risk: bigger price swings (beta 1.20 vs peers 0.75) and less liquidity (current ratio 0.34 vs peers 1.20)

Ranks #558 of 632 real estate companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 18% from December 2022 to July 2026.
Rexford Industrial Realty had 18% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Rexford Industrial Realty had 18% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Returning more cash than it generates. Paid out $1.3B vs $475M of free cash flow over the 3 fiscal years to 2025.
Rexford Industrial Realty returned $1.3B to shareholders over three years, 272% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Stock pay is large next to buybacks. Stock-based pay expense $176M vs $250M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Rexford Industrial Realty recorded $176M of stock-based pay expense and spent $250M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Rexford Industrial Realty recorded $176M of stock-based pay expense and spent $250M repurchasing shares.
Earnings slid into a loss. Loss per share this year after a profit last year.
Rexford Industrial Realty made a loss per share in its latest year after a profit the year before.

StockQuotient Score

28/ 100

Oct 5 28 → Nov 4 28

Valuation

Is the price right?

25/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-4.5%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.10Sector median: 0.0535 · MAD: 0.0484

EBITDA yield5.4%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.03Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield2.7%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.87Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield88.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

36/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.05Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth11.1%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.98Sector median: 0.0378 · MAD: 0.0744

Revenue growth0.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.26Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

20/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Turned to a loss over the last 12 months
Net margin fell 62.5 points to -38.4%

Why

Weaker than most peers on:

▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin37.9%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score 0.49Sector median: 0.2683 · MAD: 0.2257

Return on assets-3.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.97Sector median: 0.0211 · MAD: 0.0134

Return on invested capital3.1%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -0.17Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin76.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity-5.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.20

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.39Sector median: 0.7490 · MAD: 0.3270

Current ratio0.34×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -1.18Sector median: 1.1950 · MAD: 0.7210

Debt / equity0.43×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.95Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Rexford Industrial Realty

Is Rexford Industrial Realty getting weaker?: Its latest SEC filing (Jul 28, 2026) got weaker in some ways: turned to a loss over the last 12 months; net margin fell 62.5 points to -38.4%. Its overall score is unchanged at 28/100 since Oct 28, 2026.
How is Rexford Industrial Realty valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 762 real estate peers. Earnings yield -4.5% vs a peer median of 5.3% (weaker than 100% of peers).Earnings yield -4.5% vs peers 5.3% (weaker than 100% of peers).
Is Rexford Industrial Realty growing?: More slowly than most of its peers. Growth scores 36/100 against 762 real estate peers. 3-year revenue growth 11.1% vs a peer median of 3.8% (stronger than 75% of peers).3-year revenue growth 11.1% vs peers 3.8% (stronger than 75% of peers).
How profitable is Rexford Industrial Realty?: Less profitable than most of its peers. Profitability scores 20/100 against 762 real estate peers. Return on assets -3.3% vs a peer median of 2.1% (weaker than 100% of peers).Return on assets -3.3% vs peers 2.1% (weaker than 100% of peers).
How risky is Rexford Industrial Realty?: Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 0.43× vs a peer median of 0.80× (stronger than 75% of peers).Debt / equity 0.43× vs peers 0.80× (stronger than 75% of peers). Current ratio 0.34× vs a peer median of 1.20× (weaker than 85% of peers).Current ratio 0.34× vs peers 1.20× (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 28, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Turned to a loss over the last 12 months
Net margin fell 62.5 points to -38.4%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	995.9M USD	991.9M USD	−0.4%
Net income (12 months)	239.8M USD	−380.7M USD	turned negative
Free cash flow (12 months)	213.4M USD	227.2M USD	+6.5%
Debt	3.2B USD	3.3B USD	+0.5%
Cash	51.7M USD	32.2M USD	−37.7%
Shares outstanding	225.7M	223.0M	−1.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Industrial companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Net margin	28.4%	26.5%	29.8%	29.2%	21.1%	▼ 8.1 pts
Return on assets (ROA)	1.9%	1.8%	2.2%	2.2%	1.7%	▼ 0.5 pts
Return on equity (ROE)	2.7%	2.6%	3.1%	3.3%	2.5%	▼ 0.8 pts
Free cash flow margin	28.5%	30.5%	20.2%	11.3%	20.8%	▲ 9.5 pts
Debt to equity	0.29×	0.30×	0.29×	0.40×	0.38×	▼ 4.4%

REXR price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.20 vs a peer median of 0.75) and less short-term liquidity (current ratio 0.34 vs a peer median of 1.20)higher risk: bigger price swings (beta 1.20 vs peers 0.75) and less liquidity (current ratio 0.34 vs peers 1.20)

Ranks #558 of 632 real estate companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 18% from December 2022 to July 2026.

Rexford Industrial Realty had 18% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Rexford Industrial Realty had 18% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Returning more cash than it generates. Paid out $1.3B vs $475M of free cash flow over the 3 fiscal years to 2025.

Rexford Industrial Realty returned $1.3B to shareholders over three years, 272% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.

Stock pay is large next to buybacks. Stock-based pay expense $176M vs $250M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Rexford Industrial Realty recorded $176M of stock-based pay expense and spent $250M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Rexford Industrial Realty recorded $176M of stock-based pay expense and spent $250M repurchasing shares.

Earnings slid into a loss. Loss per share this year after a profit last year.

Rexford Industrial Realty made a loss per share in its latest year after a profit the year before.

Questions investors ask about Rexford Industrial Realty

Is Rexford Industrial Realty getting weaker?

Its latest SEC filing (Jul 28, 2026) got weaker in some ways: turned to a loss over the last 12 months; net margin fell 62.5 points to -38.4%. Its overall score is unchanged at 28/100 since Oct 28, 2026.

How is Rexford Industrial Realty valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 762 real estate peers. Earnings yield -4.5% vs a peer median of 5.3% (weaker than 100% of peers).Earnings yield -4.5% vs peers 5.3% (weaker than 100% of peers).

Is Rexford Industrial Realty growing?

More slowly than most of its peers. Growth scores 36/100 against 762 real estate peers. 3-year revenue growth 11.1% vs a peer median of 3.8% (stronger than 75% of peers).3-year revenue growth 11.1% vs peers 3.8% (stronger than 75% of peers).

How profitable is Rexford Industrial Realty?

Less profitable than most of its peers. Profitability scores 20/100 against 762 real estate peers. Return on assets -3.3% vs a peer median of 2.1% (weaker than 100% of peers).Return on assets -3.3% vs peers 2.1% (weaker than 100% of peers).

How risky is Rexford Industrial Realty?

Higher risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 0.43× vs a peer median of 0.80× (stronger than 75% of peers).Debt / equity 0.43× vs peers 0.80× (stronger than 75% of peers). Current ratio 0.34× vs a peer median of 1.20× (weaker than 85% of peers).Current ratio 0.34× vs peers 1.20× (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

995.9M USD

991.9M USD

−0.4%

Net income (12 months)

239.8M USD

−380.7M USD

turned negative

Free cash flow (12 months)

213.4M USD

227.2M USD

+6.5%

Debt

3.2B USD

3.3B USD

+0.5%

Cash

51.7M USD

32.2M USD

−37.7%

Shares outstanding

225.7M

223.0M

−1.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Net margin

28.4%

26.5%

29.8%

29.2%

21.1%

▼ 8.1 pts

Return on assets (ROA)

1.9%

1.8%

2.2%

1.7%

▼ 0.5 pts

Return on equity (ROE)

2.7%

2.6%

3.1%

3.3%

2.5%

▼ 0.8 pts

Free cash flow margin

28.5%

30.5%

20.2%

11.3%

20.8%

▲ 9.5 pts

Debt to equity

0.29×

0.30×

0.29×

0.40×

0.38×

▼ 4.4%