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Rexford Industrial Realty Trust remains a hold despite improved valuation and a near 5% dividend yield due to ongoing SoCal market headwinds and lack of growth. Q2 results showed another double-beat and a second consecutive core FFO guidance raise, but projected growth remains under 1% year-over-year. Management is aggressively recycling capital, raising disposition guidance to $1.5–$2 billion and prioritizing debt reduction and opportunistic share buybacks.

Shares of Rexford Industrial Realty, Inc. (NYSE:REXR – Get Free Report) have received an average rating of “Hold” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.9286.

REXR has been the topic of several recent research reports. Citigroup restated a “neutral” rating on shares of Rexford Industrial Realty in a research report on Wednesday, July 29th. Jefferies Financial Group cut Rexford Industrial Realty from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Thursday, August 6th. Mizuho upped their price objective on Rexford Industrial Realty from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Rexford Industrial Realty from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Weiss Ratings lowered Rexford Industrial Realty from a “hold (c)” rating to a “sell (d)” rating in a research note on Wednesday, July 29th.

Check Out Our Latest Analysis on REXR

Rexford Industrial Realty Stock Down 0.0% Shares of REXR opened at $37.12 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.70. The stock has a market capitalization of $8.28 billion, a price-to-earnings ratio of -20.51 and a beta of 1.19. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $44.38. The business’s 50 day simple moving average is $36.12 and its 200-day simple moving average is $35.63. Rexford Industrial Realty (NYSE:REXR – Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($2.86). Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. The business had revenue of $243.00 million during the quarter, compared to analysts’ expectations of $240.24 million. During the same period last year, the business posted $0.59 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. As a group, equities analysts expect that Rexford Industrial Realty will post 2.39 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a $0.435 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.74 dividend on an annualized basis and a yield of 4.7%. Rexford Industrial Realty’s dividend payout ratio (DPR) is currently -96.13%.

Institutional Inflows and Outflows Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Rexford Industrial Realty in the second quarter valued at $1,293,168,000. Price T Rowe Associates Inc. MD grew its holdings in Rexford Industrial Realty by 2.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 28,336,003 shares of the real estate investment trust’s stock valued at $1,097,172,000 after purchasing an additional 667,594 shares during the last quarter. State Street Corp raised its position in Rexford Industrial Realty by 4.9% in the 2nd quarter. State Street Corp now owns 11,906,613 shares of the real estate investment trust’s stock worth $428,509,000 after purchasing an additional 556,810 shares during the period. Principal Financial Group Inc. raised its position in Rexford Industrial Realty by 19.5% in the 4th quarter. Principal Financial Group Inc. now owns 11,518,739 shares of the real estate investment trust’s stock worth $446,006,000 after purchasing an additional 1,881,905 shares during the period. Finally, Soroban Capital Partners LP lifted its stake in Rexford Industrial Realty by 57.2% in the second quarter. Soroban Capital Partners LP now owns 9,191,038 shares of the real estate investment trust’s stock worth $326,925,000 after purchasing an additional 3,344,677 shares during the last quarter. 99.52% of the stock is owned by hedge funds and other institutional investors.

(Get Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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Rexford Industrial Realty (NYSE:REXR – Get Free Report) and One Liberty Properties (NYSE:OLP – Get Free Report) are both real estate companies, but which is the superior business? We will compare the two companies based on the strength of their dividends, valuation, institutional ownership, analyst recommendations, earnings, risk and profitability.

Analyst Recommendations This is a breakdown of current ratings and recommmendations for Rexford Industrial Realty and One Liberty Properties, as provided by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Rexford Industrial Realty 4 6 5 0 2.07 One Liberty Properties 1 0 1 1 2.67 Rexford Industrial Realty presently has a consensus price target of $40.93, suggesting a potential upside of 9.64%. One Liberty Properties has a consensus price target of $28.50, suggesting a potential upside of 17.72%. Given One Liberty Properties’ stronger consensus rating and higher possible upside, analysts clearly believe One Liberty Properties is more favorable than Rexford Industrial Realty.

Insider and Institutional Ownership 99.5% of Rexford Industrial Realty shares are held by institutional investors. Comparatively, 36.2% of One Liberty Properties shares are held by institutional investors. 1.8% of Rexford Industrial Realty shares are held by insiders. Comparatively, 26.2% of One Liberty Properties shares are held by insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a stock is poised for long-term growth. Risk & Volatility Rexford Industrial Realty has a beta of 1.19, suggesting that its stock price is 19% more volatile than the S&P 500. Comparatively, One Liberty Properties has a beta of 0.87, suggesting that its stock price is 13% less volatile than the S&P 500.

Earnings and Valuation This table compares Rexford Industrial Realty and One Liberty Properties”s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Rexford Industrial Realty $991.92 million 8.39 $212.03 million ($1.81) -20.62 One Liberty Properties $97.23 million 5.45 $25.47 million $1.59 15.23 Rexford Industrial Realty has higher revenue and earnings than One Liberty Properties. Rexford Industrial Realty is trading at a lower price-to-earnings ratio than One Liberty Properties, indicating that it is currently the more affordable of the two stocks.

Profitability This table compares Rexford Industrial Realty and One Liberty Properties’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Rexford Industrial Realty -39.22% -4.61% -3.14% One Liberty Properties 33.51% 11.52% 4.06% Dividends Rexford Industrial Realty pays an annual dividend of $1.74 per share and has a dividend yield of 4.7%. One Liberty Properties pays an annual dividend of $1.80 per share and has a dividend yield of 7.4%. Rexford Industrial Realty pays out -96.1% of its earnings in the form of a dividend. One Liberty Properties pays out 113.2% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Rexford Industrial Realty has raised its dividend for 4 consecutive years.

Summary One Liberty Properties beats Rexford Industrial Realty on 10 of the 18 factors compared between the two stocks.

(Get Free Report)

Rexford Industrial Realty, Inc. is a self-administered and self-managed real estate investment trust, which engages in owning and operating industrial properties in infill markets. The company was founded by Richard S. Ziman on January 18, 2013 and is headquartered in Los Angeles, CA.

About One Liberty Properties (Get Free Report)

One Liberty Properties, Inc. is a real estate investment trust, which engages in acquisition, ownership, and management of the geographically diversified portfolio consisting primarily of industrial, retail, restaurant, health and fitness, and theater properties, many of which are subject to long-term leases. The properties in the firm’s portfolio include net leases, long-term lease, and scheduled rent increases. The company was founded in December 1982 and is headquartered in Great Neck, NY.

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Posted by Defense World Staff on Aug 16th, 2026

Handelsbanken Fonder AB decreased its stake in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,902 shares of the real estate investment trust’s stock after selling 21,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Rexford Industrial Realty were worth $3,179,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of REXR. Cassaday & Co Wealth Management LLC acquired a new position in shares of Rexford Industrial Realty during the first quarter valued at approximately $33,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter worth approximately $34,000. Wiser Advisor Group LLC purchased a new stake in shares of Rexford Industrial Realty during the third quarter worth approximately $34,000. Meeder Asset Management Inc. increased its position in shares of Rexford Industrial Realty by 724.4% during the fourth quarter. Meeder Asset Management Inc. now owns 1,113 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 978 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Rexford Industrial Realty in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 99.52% of the company’s stock.

Rexford Industrial Realty Stock Down 0.6% REXR stock opened at $36.21 on Friday. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38. The firm has a market cap of $8.07 billion, a PE ratio of -20.00, a PEG ratio of 1.50 and a beta of 1.19. The firm’s 50 day moving average price is $35.51 and its 200-day moving average price is $35.84. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.70 and a current ratio of 1.70.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last posted its earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($2.86). The business had revenue of $243.00 million during the quarter, compared to analysts’ expectations of $240.24 million. Rexford Industrial Realty had a negative net margin of 39.22% and a negative return on equity of 4.61%. Rexford Industrial Realty’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. On average, equities research analysts anticipate that Rexford Industrial Realty, Inc. will post 2.41 EPS for the current year.

Rexford Industrial Realty Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.435 per share. This represents a $1.74 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Rexford Industrial Realty’s dividend payout ratio (DPR) is -96.13%.

Analyst Ratings Changes A number of brokerages have weighed in on REXR. Weiss Ratings lowered Rexford Industrial Realty from a “hold (c)” rating to a “sell (d)” rating in a report on Wednesday, July 29th. Barclays reduced their target price on shares of Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating for the company in a research report on Thursday, July 16th. Zacks Research upgraded shares of Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wells Fargo & Company decreased their target price on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 1st. Finally, Truist Financial lowered their target price on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Rexford Industrial Realty presently has a consensus rating of “Hold” and an average price target of $40.71.

Read Our Latest Stock Report on REXR

Rexford Industrial Realty Profile (Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

Read More Five stocks we like better than Rexford Industrial Realty Is Best Buy the AI Winner Hiding in the Electronics Aisle? Applied Materials Beat Everything but Wall Street’s Expectations for Margins Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report).

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Posted by Defense World Staff on Aug 6th, 2026

Amundi grew its position in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 18.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 160,791 shares of the real estate investment trust’s stock after acquiring an additional 24,873 shares during the period. Amundi owned about 0.07% of Rexford Industrial Realty worth $5,263,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada raised its position in shares of Rexford Industrial Realty by 3.5% during the 1st quarter. Royal Bank of Canada now owns 251,550 shares of the real estate investment trust’s stock worth $9,849,000 after purchasing an additional 8,506 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Rexford Industrial Realty by 309.8% in the first quarter. AQR Capital Management LLC now owns 118,245 shares of the real estate investment trust’s stock valued at $4,628,000 after acquiring an additional 89,390 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Rexford Industrial Realty by 41.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,811,775 shares of the real estate investment trust’s stock valued at $70,931,000 after purchasing an additional 526,877 shares during the last quarter. Cetera Investment Advisers lifted its position in Rexford Industrial Realty by 52.7% in the second quarter. Cetera Investment Advisers now owns 16,956 shares of the real estate investment trust’s stock valued at $603,000 after buying an additional 5,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Rexford Industrial Realty by 131.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,252 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 1,848 shares during the period. 99.52% of the stock is owned by institutional investors and hedge funds.

Rexford Industrial Realty Price Performance Shares of NYSE REXR opened at $36.99 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average price is $35.26 and its 200 day moving average price is $35.99. Rexford Industrial Realty, Inc. has a 52 week low of $32.14 and a 52 week high of $44.38. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of -20.44, a PEG ratio of 1.54 and a beta of 1.19.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported ($2.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($2.86). Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.The company had revenue of $243.00 million for the quarter, compared to analyst estimates of $240.24 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. As a group, research analysts forecast that Rexford Industrial Realty, Inc. will post 2.41 earnings per share for the current fiscal year.

Rexford Industrial Realty Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.435 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. Rexford Industrial Realty’s payout ratio is -96.13%.

Wall Street Analyst Weigh In Several research analysts have recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Rexford Industrial Realty from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 1st. Barclays cut their target price on Rexford Industrial Realty from $40.00 to $36.00 and set an “underweight” rating on the stock in a research report on Thursday, July 16th. Mizuho cut their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 10th. Truist Financial decreased their price objective on Rexford Industrial Realty from $40.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, May 21st. Finally, Wall Street Zen downgraded shares of Rexford Industrial Realty from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rexford Industrial Realty currently has a consensus rating of “Hold” and an average price target of $40.62.

View Our Latest Analysis on Rexford Industrial Realty

About Rexford Industrial Realty (Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

Further Reading Five stocks we like better than Rexford Industrial Realty SpaceX: Love the Company, But the Stock Is a Harder Call Ulta’s Growth Is Real, But So Are the Risks BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth Want to see what other hedge funds are holding REXR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report).

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Posted by Defense World Staff on Jul 29th, 2026

Dimensional Fund Advisors LP grew its holdings in Rexford Industrial Realty, Inc. (NYSE:REXR – Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,581,987 shares of the real estate investment trust’s stock after purchasing an additional 85,135 shares during the quarter. Dimensional Fund Advisors LP owned 1.59% of Rexford Industrial Realty worth $117,239,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in shares of Rexford Industrial Realty in the fourth quarter worth $31,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Rexford Industrial Realty in the fourth quarter valued at $34,000. Wiser Advisor Group LLC purchased a new position in Rexford Industrial Realty in the third quarter valued at $34,000. Allworth Financial LP boosted its holdings in Rexford Industrial Realty by 140.3% in the third quarter. Allworth Financial LP now owns 983 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 574 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Rexford Industrial Realty by 724.4% during the 4th quarter. Meeder Asset Management Inc. now owns 1,113 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 978 shares in the last quarter. Institutional investors and hedge funds own 99.52% of the company’s stock.

Analysts Set New Price Targets Several brokerages have recently issued reports on REXR. Weiss Ratings upgraded Rexford Industrial Realty from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 15th. Evercore restated an “outperform” rating on shares of Rexford Industrial Realty in a research note on Monday. Mizuho decreased their price target on shares of Rexford Industrial Realty from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, June 10th. Zacks Research upgraded shares of Rexford Industrial Realty from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Rexford Industrial Realty in a report on Monday. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Rexford Industrial Realty has a consensus rating of “Hold” and a consensus price target of $40.38.

Read Our Latest Research Report on REXR

Rexford Industrial Realty Stock Down 0.1% REXR opened at $38.69 on Wednesday. Rexford Industrial Realty, Inc. has a one year low of $32.14 and a one year high of $44.38. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.50 and a current ratio of 1.70. The stock has a market capitalization of $8.73 billion, a P/E ratio of -21.37, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. The business’s 50-day simple moving average is $35.07 and its 200-day simple moving average is $36.11.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The real estate investment trust reported ($2.26) EPS for the quarter, missing the consensus estimate of $0.60 by ($2.86). Rexford Industrial Realty had a negative return on equity of 4.61% and a negative net margin of 39.22%.The firm had revenue of $243.00 million for the quarter, compared to analyst estimates of $240.24 million. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Rexford Industrial Realty has set its FY 2026 guidance at 2.380-2.430 EPS. Analysts anticipate that Rexford Industrial Realty, Inc. will post 2.41 EPS for the current year.

Rexford Industrial Realty Announces Dividend The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.435 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Wednesday, September 30th. Rexford Industrial Realty’s payout ratio is presently -96.13%.

Rexford Industrial Realty Company Profile (Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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Rexford Industrial Realty, Inc. (REXR) Q2 2026 Earnings Call Transcript

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SummaryRexford Industrial Realty is undervalued at 14.9x forward P/FFO, well below its historical average, offering patient investors an attractive entry point.REXR’s Q2 2026 results showed 6.8% YoY Core FFO/share growth, driven by operating efficiencies and disciplined cost control, despite modest rental rate declines.Portfolio realignment of $1.5–$2 billion may create near-term FFO/share volatility, but supports share repurchases and strategic asset recycling at favorable cap rate spreads.Strong balance sheet, 4.8% yield, and constrained SoCal supply position REXR for medium-term FFO/share growth as market fundamentals recover.Looking for a portfolio of ideas like this one? Members of iREIT®+HOYA Capital get exclusive access to our subscriber-only portfolios. Learn More » halbergman/iStock via Getty Images

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of REXR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Raises 2026 Core FFO per share guidance

Announces portfolio realignment through planned 2026 dispositions of $1.5-$2.0 billion

, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust ("REIT") focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced financial and operating results for the second quarter of 2026.

Second Quarter 2026 Financial and Operational Highlights (all comparisons to Second Quarter 2025)

Net loss attributable to common stockholders of $506.9 million, or $2.26 per diluted share, driven by non-cash impairment, as compared to net income of $113.4 million, or $0.48 per diluted share. Company share of Core FFO of $141.4 million, an increase of 1.2%. Company share of Core FFO per diluted share of $0.63, an increase of 6.8%. Total Portfolio NOI of $186.8 million, an increase of 0.3%. Same Property Portfolio Cash NOI increased 1.5% and Same Property Portfolio NOI decreased 0.5%. Average Same Property Portfolio occupancy of 95.7%. Executed 2.1 million square feet of new and renewal leases. Comparable rental rates decreased by 2.8%, compared to prior rents, on a net effective basis and decreased by 11.3% on a cash basis. Stabilized two development projects totaling 196,391 square feet. Sold seven properties for a total sales price of $137.9 million. Company increased its full-year 2026 disposition guidance to $1.5 to $2.0 billion as part of its planned portfolio realignment. Repurchased 2,801,307 shares of common stock for $100 million at a weighted average price of $35.70 per share. Subsequent to quarter end, the Board of Directors authorized a new, $1.0 billion stock repurchase program. Net Debt to Adjusted EBITDAre of 4.5x. "This quarter reflects both strong execution and a transformative step forward in advancing our strategic priorities," said Laura Clark, Chief Executive Officer. "The realignment of our portfolio through the planned disposition of approximately $2 billion of identified non-core assets will further strengthen our portfolio, enhance cash flow durability and increase financial flexibility, positioning Rexford to maximize long-term shareholder value. We are also encouraged by the continued improvement we are seeing in fundamentals across the infill Southern California industrial market, including increasing tenant demand, positive net absorption and declining vacancy—all early signs of strengthening market conditions. We are confident that our strategic actions, combined with the strength of our value creation platform, will enable Rexford to deliver outsized returns for shareholders moving forward."

Financial

The Company reported net loss attributable to common stockholders for the second quarter of $506.9 million, or $2.26 per diluted share, compared to net income of $113.4 million, or $0.48 per diluted share, in the prior year quarter. Net loss in the second quarter includes $624.8 million of impairments and $21.9 million of gains on sale of real estate, as compared to $0 and $44.4 million, respectively, for the prior year quarter. The non-cash impairments primarily reflect certain assets designated for disposition whose expected holding periods were shortened in connection with the Company's increased disposition guidance. For the six months ended June 30, 2026, net loss attributable to common stockholders was $419.0 million, or $1.86 per diluted share, compared to net income of $181.8 million, or $0.78 per diluted share, in the prior year period. Net loss in the six months ended June 30, 2026 includes $631.6 million of impairments and $48.2 million of gains on sale of real estate, as compared to $0 and $57.5 million, respectively, for the prior year period.

The Company reported its share of Core FFO for the second quarter of $141.4 million, representing a 1.2% increase, compared to $139.7 million for the prior year quarter. The Company reported Core FFO of $0.63 per diluted share, representing an increase of 6.8%, compared to $0.59 per diluted share for the prior year quarter. Company share of Core FFO increased by $1.7 million, or $0.04 per diluted share year-over-year, driven by lower general and administrative expense related to the CEO leadership transition and the benefit of share repurchases, partially offset by lower NOI from dispositions executed in the first half of 2026. For the six months ended June 30, 2026, the Company's share of Core FFO was $281.2 million, representing a 0.2% increase, compared to $280.7 million for the prior year period. For the six months ended June 30, 2026, the Company reported Core FFO of $1.24 per diluted share, representing an increase of 2.5%, compared to $1.21 per diluted share for the prior year period.

In the second quarter of 2026, the Company's Same Property Portfolio NOI and Cash NOI decreased 0.5% and increased 1.5%, respectively, compared to the prior year quarter. Same Property Portfolio NOI decrease was primarily driven by effective rental rate compression and higher bad debt, partially offset by higher average occupancy. Same Property Portfolio Cash NOI growth was positively driven by annual contractual rent increases and higher average occupancy, partially offset by higher bad debt. For the six months ended June 30, 2026, the Company's Same Property Portfolio NOI and Cash NOI increased 0.3% and 0.6%, respectively, compared to the prior year period.

Operations

Q2 2026 Leasing Activity

Releasing Spreads(1)

# of Leases
Executed

SF of

Leasing

Net

Effective

Cash

New Leases

53

840,344

(13.8) %

(19.5) %

Renewal Leases

64

1,261,446

1.4 %

(8.1) %

Total Leases

117

2,101,790

(2.8) %

(11.3) %

(1)

Net effective and cash rent statistics include leases in which there is comparable lease data. Please see the Company's supplemental financial reporting package for additional detail related to leasing activity in Q2 2026.

As of June 30, 2026, the Company's Same Property Portfolio occupancy was 95.1%. Average Same Property Portfolio occupancy for the second quarter was 95.7%. The Company's total portfolio, excluding repositioning and development assets, was 94.8% occupied and 95.0% leased, and the Company's total portfolio, including repositioning and development assets, was 90.0% occupied and 90.3% leased. The Company's improved land and industrial outdoor storage (IOS) sites, totaling approximately 8.3 million square feet or 189.7 acres, were 92.8% leased as of June 30, 2026.

Repositionings and Developments

During the second quarter of 2026, the Company executed three development and repositioning leases totaling 146,430 square feet. Subsequent to quarter end, the Company executed two leases totaling 102,025 square feet at a development project located at 3680-3880 Voyager Street and a repositioning project located at 24935-24955 Avenue Kearny. Year to date through July 23, 2026, leasing activity across the Company's repositioning and development pipeline totals 286,299 square feet.

During the second quarter of 2026, the Company stabilized two development projects totaling 196,391 square feet, representing a total investment of $98.0 million. These projects achieved a weighted average unlevered stabilized return on cost of 8.0%.

Year to date, the Company stabilized four repositioning and development projects totaling 341,280 square feet, representing a total investment of $146.6 million. These projects achieved a weighted average unlevered stabilized return on cost of 7.1%.

Dispositions

During the second quarter of 2026, the Company disposed of seven properties, totaling 571,708 square feet, for an aggregate sales price of $137.9 million, including four sites previously in the near-term development pipeline.

Year to date, the Company disposed of twelve properties totaling 886,401 square feet for an aggregate sales price of $265.3 million, including six sites previously in the near-term development pipeline.

Balance Sheet

The Company ended the second quarter of 2026 with approximately $1.3 billion of total liquidity, including $32.2 million in unrestricted cash on hand and $1.2 billion available under its unsecured revolving credit facility.

During the second quarter of 2026, the Company repurchased 2,801,307 shares of its common stock for $100 million, at a weighted average price of $35.70 per share, bringing year-to-date repurchases to $300 million. Subsequent to quarter end, the Company's Board of Directors authorized a new $1.0 billion stock repurchase program, which superseded and replaced the prior program and is authorized through July 2028. The Company has full availability under the current program.

As of June 30, 2026, the Company had $3.3 billion of outstanding debt, with a weighted average interest rate of 3.7%. Floating-rate debt exposure was limited to $14.0 million outstanding under the Company's revolving credit facility. The weighted average term-to-maturity of the Company's outstanding debt is 2.8 years with no material debt maturities until 2027.

Dividends

On July 20, 2026, the Company's Board of Directors authorized a dividend in the amount of $0.435 per share for the third quarter of 2026, payable in cash on October 15, 2026, to common stockholders and common unit holders of record as of September 30, 2026.

On July 20, 2026, the Company's Board of Directors authorized a quarterly dividend of $0.367188 per share of its Series B Cumulative Redeemable Preferred Stock and a quarterly dividend of $0.351563 per share of its Series C Cumulative Redeemable Preferred Stock, payable in cash on September 30, 2026, to preferred stockholders of record as of September 15, 2026.

Leadership Transition and Board of Directors

On April 1, 2026, Laura Clark assumed the role of Chief Executive Officer and John Nahas assumed the role of Chief Operating Officer as part of the Company's leadership succession plan. Clark, who was appointed to the Board on November 17, 2025, succeeded Co-Chief Executive Officers Howard Schwimmer and Michael Frankel, who departed from their roles on March 31, 2026. Schwimmer and Frankel continued to serve as directors on the Board until their terms expired at the 2026 Annual Meeting of Shareholders on May 19, 2026.

Guidance

The Company is updating its full year 2026 guidance as indicated below. Please refer to the Company's supplemental information package for a complete detail of guidance and the 2026 Guidance Rollforward.

The Company is announcing a disposition initiative to realign its portfolio through the planned sale of approximately $2 billion of identified non-core assets. The Company intends to recycle proceeds to increase its financial flexibility through the strengthening of its balance sheet as well as deployment toward the highest risk-adjusted return opportunities, including accretive share repurchases. Accordingly, the Company has increased its full year 2026 disposition guidance to $1.5 to $2.0 billion from $400 to $500 million.

2026 Outlook

Q2 2026

Updated Guidance

Q1 2026
Guidance

Earnings

Net (Loss) Income Attributable to Common Stockholders per diluted share(1)

($1.32) - ($1.27)

$1.22 - $1.27

Company share of Core FFO per diluted share(1)

$2.38 - $2.43

$2.37 - $2.42

Same Property Portfolio(2)

Same Property Portfolio NOI Growth - Net Effective

(1.25)% - (0.25)%

(2.0)% - (1.0)%

Same Property Portfolio NOI Growth - Cash

(0.75)% - 0.25%

(1.5)% - (0.5)%

Average Same Property Portfolio Occupancy (Full Year)

95.3% - 95.7%

95.1% - 95.6%

Capital Allocation

Dispositions

$1.5B - $2.0B

$400M - $500M

Repositioning/Development Annualized Stabilized Cash NOI(3)

$16M - $18M

$16M - $18M

Repositioning/Development Starts (SF)

1.2M

1.2M

Repositioning/Development Starts (Total Estimated Project Costs)

$160M - $170M

$160M - $170M

Other Assumptions

General and Administrative Expenses

+/-$57M

+/-$60M

Interest Expense

+/-$105M

+/-$112M

(1)

2026 Net Loss and Core FFO Guidance reflects the Company's in-place portfolio as of July 23, 2026, as well as guidance expectations related to investment activity.

(2)

2026 Same Property Portfolio is a subset of our consolidated portfolio and includes properties that were wholly owned for the period from January 1, 2025 through July 23, 2026, and excludes properties that were or will be classified as repositioning or development (current and future) or lease-up during 2025 and 2026 (unless otherwise noted), select buildings in other repositioning and properties included in the 2026 disposition guidance.

(3)

Represents estimated annualized Cash NOI for repositioning and development projects expected to stabilize in  2026, including 1315 Storm Parkway and 12118 Bloomfield Avenue, which stabilized in the first quarter, and 3211-3233 Mission Oaks Boulevard and 19900 Plummer Street, which stabilized in the second quarter.

A number of factors could impact the Company's ability to deliver results in line with its guidance, including, but not limited to, the potential impacts related to interest rates, inflation, the economy, tariffs, geopolitical risks including impacts from the war in the Middle East, the supply and demand of industrial real estate, the availability and terms of financing to the Company or to potential acquirers of real estate and the timing and yields for divestment and investment. There can be no assurance that the Company can achieve such results.

Supplemental Information and Earnings Presentation

The Company's supplemental information package as well as an earnings presentation are available on the Company's investor relations website at ir.rexfordindustrial.com.

Earnings Release, Investor Conference Webcast and Conference Call

A conference call with executive management will be held on Friday, July 24, 2026, at 11:00 a.m. Eastern Time.

To participate in the live telephone conference call, please access the following dial-in numbers at least five minutes prior to the start time using Meeting ID 401 760 274.
          1 (585) 542-9983 (Local)
          1 (833) 461-5787 (Toll-Free)

A live webcast and replay of the conference call will also be available at ir.rexfordindustrial.com.

About Rexford Industrial

Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of June 30, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 409 properties with approximately 49.9 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Definitions / Discussion of Non-GAAP Financial Measures

Funds from Operations (FFO): We calculate FFO in accordance with the standards established by the National Association of Real Estate Investment Trusts ("NAREIT"). FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable operating property, gains (or losses) from sales of assets incidental to our business, impairment losses of depreciable operating property or assets incidental to our business, real estate related depreciation and amortization (excluding amortization of deferred financing costs and amortization of above/below-market lease intangibles) and after adjustments for unconsolidated joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization, gains and losses from property dispositions, other than temporary impairments of unconsolidated real estate entities, and impairment on our investment in real estate, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of performance used by other REITs, FFO may be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effects and could materially impact our results from operations, the utility of FFO as a measure of our performance is limited. Other equity REITs may not calculate or interpret FFO in accordance with the NAREIT definition as we do, and, accordingly, our FFO may not be comparable to such other REITs' FFO. FFO should not be used as a measure of our liquidity and is not indicative of funds available for our cash needs, including our ability to pay dividends. FFO should be considered only as a supplement to net income or loss computed in accordance with GAAP as a measure of our performance. A reconciliation of net income or loss, the nearest GAAP equivalent, to FFO is set forth below in the Financial Statements and Reconciliations section. "Company Share of FFO" reflects FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.

Core Funds from Operations (Core FFO): We calculate Core FFO by adjusting FFO for non-comparable items outlined in the "Reconciliation of Net (Loss) Income to Funds From Operations and Core Funds From Operations" table, which is located in the Financial Statements and Reconciliations section below. We believe that Core FFO is a useful supplemental measure and that by adjusting for items that are not considered by the Company to be part of its on-going operating performance, provides a more meaningful and consistent comparison of the Company's operating and financial performance period-over-period. Because these adjustments have a real economic impact on our financial condition and results from operations, the utility of Core FFO as a measure of our performance is limited. Other REITs may not calculate Core FFO in a consistent manner. Accordingly, our Core FFO may not be comparable to other REITs' Core FFO. Core FFO should be considered only as a supplement to net income or loss computed in accordance with GAAP as a measure of our performance. "Company Share of Core FFO" reflects Core FFO attributable to common stockholders, which excludes amounts allocable to noncontrolling interests, participating securities and preferred stockholders.

Reconciliation of Net Loss Attributable to Common Stockholders per Diluted Share Guidance to Company Share of Core FFO per Diluted Share Guidance:

The following is a reconciliation of the Company's 2026 guidance range of net income attributable to common stockholders per diluted share, the most directly comparable forward-looking GAAP financial measure, to Company share of Core FFO per diluted share.

2026 Estimate

Low

High

Net loss attributable to common stockholders

$                 (1.32)

$                 (1.27)

Company share of depreciation and amortization

1.21

1.21

Company share of impairment of real estate

2.71

2.71

Company share of gains on sale of real estate

(0.21)

(0.21)

Company share of FFO

$                  2.39

$                  2.44

Add: Core FFO adjustments(1)

(0.01)

(0.01)

Company share of Core FFO

$                  2.38

$                  2.43

(1)

Core FFO adjustments consist of (i) Co-CEO transition costs, (ii) severance costs, (iii) other nonrecurring expenses and (iv) write-offs of below-market lease intangibles related to unexercised renewal options.

Net Operating Income (NOI): NOI is a non-GAAP measure, which includes the revenue and expense directly attributable to our real estate properties. NOI is calculated as rental income from real estate operations less property expenses (before interest expense, depreciation and amortization). We use NOI as a supplemental performance measure because, in excluding real estate depreciation and amortization expense, gains (or losses) from property dispositions, impairment losses of depreciable operating property and other non-operating items, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that NOI will be useful to investors as a basis to compare our operating performance with that of other REITs. However, because NOI excludes depreciation and amortization expense and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties (all of which have a real economic effect and could materially impact our results from operations), the utility of NOI as a measure of our performance is limited. Other equity REITs may not calculate NOI in a similar manner and, accordingly, our NOI may not be comparable to such other REITs' NOI. Accordingly, NOI should be considered only as a supplement to net income or loss as a measure of our performance. NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs.

NOI should not be used as a substitute for cash flow from operating activities in accordance with GAAP. We use NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of NOI for our Same Property Portfolio, as well as a reconciliation of net income or loss to NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.

Cash NOI: Cash NOI is a non-GAAP measure, which we calculate by adding or subtracting from NOI: (i) amortization of above/(below) market lease intangibles and amortization of other deferred rent resulting from sale leaseback transactions with below market leaseback payments and (ii) straight-line rent adjustments. We use Cash NOI, together with NOI, as a supplemental performance measure. Cash NOI should not be used as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs. Cash NOI should not be used as a substitute for cash flow from operating activities computed in accordance with GAAP. We use Cash NOI to help evaluate the performance of the Company as a whole, as well as the performance of our Same Property Portfolio. A calculation of Cash NOI for our Same Property Portfolio, as well as a reconciliation of net income or loss to Cash NOI for our Same Property Portfolio, is set forth below in the Financial Statements and Reconciliations section.

Same Property Portfolio: Our 2026 Same Property Portfolio is a subset of our total portfolio and includes properties that were wholly owned by us for the period from January 1, 2025 through June 30, 2026, and excludes (i) properties that were acquired or sold during the period from January 1, 2025 through June 30, 2026, and (ii) properties acquired prior to January 1, 2025 that were classified as repositioning/development (current and future) or lease-up during 2025 and 2026 and select buildings in "Other Repositioning," which we believe will significantly affect the properties' results during the comparative periods. As of June 30, 2026, our 2026 Same Property Portfolio consisted of buildings aggregating 41.6 million rentable square feet at 341 of our properties.

Properties and Space Under Repositioning: Typically defined as properties or units where a significant amount of space is held vacant in order to implement capital improvements that improve the functionality (not including basic refurbishments, i.e., paint and carpet), cash flow and value of that space. A repositioning is generally considered complete once the investment is fully or nearly fully deployed and the property is available for occupancy.

Properties Under Development: Typically defined as properties where we plan to fully or partially demolish an existing building(s) due to building obsolescence and/or a property with excess or vacant land where we plan to construct a ground-up building.

Stabilization Date — Repositioning/Development Properties: We consider a repositioning/development property to be stabilized at the earlier of the following: (i) upon rent commencement and achieving 90% occupancy or (ii) one year from the date of completion of repositioning/development construction work.

Net Debt to Enterprise Value: As of June 30, 2026, we had consolidated indebtedness of $3.3 billion, reflecting a net debt to enterprise value of approximately 29.1%. Our enterprise value is defined as the sum of the liquidation preference of our outstanding preferred stock and preferred units plus the market value of our common stock excluding shares of nonvested restricted stock, plus the aggregate value of common units not owned by us, plus the value of our net debt. Our Net Debt is defined as our consolidated indebtedness less cash and cash equivalents.

Net Debt to Adjusted EBITDAre: Calculated as Net Debt divided by annualized Adjusted EBITDAre. We calculate Adjusted EBITDAre as net income or loss (computed in accordance with GAAP), before interest expense, tax expense, depreciation and amortization, gains (or losses) from sales of depreciable operating property, impairment losses of depreciable property, non-cash stock-based compensation expense, write-offs of below market lease intangibles related to unexercised renewal options, acquisition expenses, the pro-forma effects of  dispositions and other nonrecurring expenses. We believe that Adjusted EBITDAre is helpful to investors as a supplemental measure of our operating performance as a real estate company because it is a direct measure of the actual operating results of our industrial properties. We also use this measure in ratios to compare our performance to that of our industry peers. In addition, we believe Adjusted EBITDAre is frequently used by securities analysts, investors and other interested parties in the evaluation of Equity REITs. However, because Adjusted EBITDAre is calculated before recurring cash charges including interest expense and income taxes, and is not adjusted for capital expenditures or other recurring cash requirements of our business, its utility as a measure of our liquidity is limited. Accordingly, Adjusted EBITDAre should not be considered an alternative to cash flow from operating activities (as computed in accordance with GAAP) as a measure of our liquidity. Adjusted EBITDAre should not be considered as an alternative to net income or loss as an indicator of our operating performance. Other Equity REITs may calculate Adjusted EBITDAre differently than we do; accordingly, our Adjusted EBITDAre may not be comparable to such other Equity REITs' Adjusted EBITDAre. Adjusted EBITDAre should be considered only as a supplement to net income or loss (as computed in accordance with GAAP) as a measure of our performance. A reconciliation of net income or loss, the nearest GAAP equivalent, to Adjusted EBITDAre is set forth below in the Financial Statements and Reconciliations section.

Contact

Doug Bettisworth
SVP, Investor Relations and Capital Markets
(310) 943-7157
[email protected]

Financial Statements and Reconciliations

Rexford Industrial Realty, Inc.

Consolidated Balance Sheets

(In thousands except share data)

June 30, 2026

December 31, 2025

(unaudited)

ASSETS

Land

$              7,104,413

$              7,689,921

Buildings and improvements

4,541,066

4,677,318

Tenant improvements

206,540

198,161

Furniture, fixtures, and equipment

132

132

Construction in progress

324,365

451,109

Total real estate held for investment

12,176,516

13,016,641

Accumulated depreciation

(1,163,226)

(1,165,792)

Investments in real estate, net

11,013,290

11,850,849

Cash and cash equivalents

32,226

165,778

Loan receivable, net

123,934

123,704

Rents and other receivables, net

12,132

13,958

Deferred rent receivable, net

210,474

190,376

Deferred leasing costs, net

90,864

87,745

Deferred loan costs, net

5,877

6,886

Acquired lease intangible assets, net

114,489

140,627

Acquired indefinite-lived intangible asset

5,156

5,156

Interest rate swap assets

9,247

2,025

Other assets

16,987

25,609

Total Assets

$            11,634,676

$            12,612,713

LIABILITIES & EQUITY

Liabilities

Notes payable

$              3,263,724

$              3,251,909

Interest rate swap liability

3

829

Accounts payable, accrued expenses and other liabilities

99,101

120,849

Dividends and distributions payable

100,960

103,399

Acquired lease intangible liabilities, net

105,856

116,487

Tenant security deposits

92,386

92,444

Tenant prepaid rents

79,518

88,777

Total Liabilities

3,741,548

3,774,694

Equity

Rexford Industrial Realty, Inc. stockholders' equity

Preferred stock, $0.01 par value per share, 10,050,000 shares authorized:

5.875% series B cumulative redeemable preferred stock, 3,000,000 shares outstanding at June 30, 2026
and December 31, 2025 ($75,000 liquidation preference)

72,443

72,443

5.625% series C cumulative redeemable preferred stock, 3,450,000 shares outstanding at June 30, 2026
and December 31, 2025 ($86,250 liquidation preference)

83,233

83,233

Common Stock,$0.01 par value per share, 489,950,000 authorized and 222,989,057 and 231,580,135
shares outstanding at June 30, 2026 and December 31, 2025, respectively

2,230

2,316

Additional paid in capital

8,631,341

8,945,123

Cumulative distributions in excess of earnings

(1,255,153)

(642,130)

Accumulated other comprehensive income (loss)

7,473

(422)

Total stockholders' equity

7,541,567

8,460,563

Noncontrolling interests

351,561

377,456

Total Equity

7,893,128

8,838,019

Total Liabilities and Equity

$            11,634,676

$            12,612,713

Rexford Industrial Realty, Inc.

Consolidated Statements of Operations

(Unaudited and in thousands, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

REVENUES

Rental income

$       242,996

$       241,568

$       485,137

$       490,389

Management and leasing services

—

132

—

274

Interest income

2,510

7,807

5,447

11,131

TOTAL REVENUES

245,506

249,507

490,584

501,794

OPERATING EXPENSES

Property expenses

56,214

55,298

112,977

110,559

General and administrative

13,693

19,752

28,618

39,620

Depreciation and amortization

73,479

71,188

146,412

157,928

TOTAL OPERATING EXPENSES

143,386

146,238

288,007

308,107

OTHER (EXPENSES) INCOME

Other income

3,500

—

4,850

—

Other expenses, net

2,001

(244)

1,899

(2,483)

Interest expense

(28,571)

(26,701)

(55,171)

(53,989)

Impairment of real estate

(624,754)

—

(631,578)

—

Debt extinguishment and modification expenses

—

(291)

—

(291)

Gains on sale of real estate

21,893

44,361

48,174

57,518

TOTAL OTHER (EXPENSES) INCOME

(625,931)

17,125

(631,826)

755

NET (LOSS) INCOME

(523,811)

120,394

(429,249)

194,442

Less: net loss (income) attributable to noncontrolling interests

19,665

(4,060)

16,290

(6,909)

NET (LOSS) INCOME ATTRIBUTABLE TO REXFORD INDUSTRIAL REALTY, INC.

(504,146)

116,334

(412,959)

187,533

Less: preferred stock dividends

(2,315)

(2,315)

(4,629)

(4,629)

Less: earnings attributable to participating securities

(441)

(592)

(1,449)

(1,131)

NET (LOSS) INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS

$      (506,902)

$       113,427

$      (419,037)

$       181,773

Net (loss) income attributable to common stockholders per share – basic

$           (2.26)

$            0.48

$           (1.85)

$            0.78

Net (loss) income attributable to common stockholders per share – diluted

$           (2.26)

$            0.48

$           (1.86)

$            0.78

Weighted-average shares of common stock outstanding – basic

223,812

236,099

226,050

231,771

Weighted-average shares of common stock outstanding – diluted

223,812

236,099

234,636

231,771

Rexford Industrial Realty, Inc.

Same Property Portfolio Occupancy and NOI and Cash NOI

(Unaudited, dollars in thousands)

Same Property Portfolio Occupancy

June 30,

2026

2025

Change
(basis points)

Quarterly Weighted Average Occupancy:(1)

Los Angeles County

96.5 %

93.2 %

330 bps

Orange County

95.9 %

97.6 %

(170) bps

Riverside / San Bernardino County

93.3 %

97.0 %

(370) bps

San Diego County

97.5 %

98.0 %

(50) bps

Ventura County

94.6 %

91.4 %

320 bps

Same Property Portfolio Weighted Average Occupancy

95.7 %

94.7 %

100 bps

Ending Occupancy:

95.1 %

94.8 %

30 bps

(1)

Calculated by averaging the occupancy rate at the end of each month in 2Q-2026 and March 2026 (for 2Q-2026) and the end of each month in 2Q-2025 and March 2025 (for 2Q-2025).

Same Property Portfolio NOI and Cash NOI

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

$ Change

% Change

2026

2025

$ Change

% Change

Rental income(1)

$ 210,974

$ 210,887

$        87

0.0 %

$ 422,543

$ 418,561

$  3,982

1.0 %

Property expenses

46,811

45,893

918

2.0 %

94,045

91,171

2,874

3.2 %

Same Property Portfolio NOI

$ 164,163

$ 164,994

$     (831)

(0.5) %

$ 328,498

$ 327,390

$  1,108

0.3 %

Straight line rental revenue adjustment

(4,938)

(6,328)

1,390

(22.0) %

(15,235)

(13,835)

(1,400)

10.1 %

Above/(below) market lease revenue adjustments(1)

(3,093)

(4,829)

1,736

(35.9) %

(7,263)

(9,401)

2,138

(22.7) %

Same Property Portfolio Cash NOI

$ 156,132

$ 153,837

$   2,295

1.5 %

$ 306,000

$ 304,154

$  1,846

0.6 %

(1)

Same Property Portfolio rental income and above/(below) market lease revenue adjustments for the three months ended June 30, 2026 exclude $497 of income recognized from the write-off of a below-market lease intangibles attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.

Rexford Industrial Realty, Inc.

Reconciliation of Net (Loss) Income to NOI, Cash NOI, Same Property Portfolio NOI and

Same Property Portfolio Cash NOI

(Unaudited and in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net (loss) income

$     (523,811)

$       120,394

$     (429,249)

$       194,442

General and administrative

13,693

19,752

28,618

39,620

Depreciation and amortization

73,479

71,188

146,412

157,928

Other expenses, net

(2,001)

244

(1,899)

2,483

Interest expense

28,571

26,701

55,171

53,989

Debt extinguishment and modification expenses

—

291

—

291

Management and leasing services

—

(132)

—

(274)

Other income

(3,500)

—

(4,850)

—

Interest income

(2,510)

(7,807)

(5,447)

(11,131)

Impairment of real estate

624,754

—

631,578

—

Gains on sale of real estate

(21,893)

(44,361)

(48,174)

(57,518)

Net operating income (NOI)

$       186,782

$       186,270

$       372,160

$       379,830

Straight line rental revenue adjustment

(9,967)

(6,918)

(25,103)

(12,435)

Above/(below) market lease revenue adjustments

(3,805)

(5,788)

(8,452)

(14,974)

Cash NOI

$       173,010

$       173,564

$       338,605

$       352,421

NOI

$       186,782

$       186,270

$       372,160

$       379,830

Non-Same Property Portfolio rental income

(32,022)

(30,681)

(62,594)

(71,828)

Non-Same Property Portfolio property expenses

9,403

9,405

18,932

19,388

Same Property Portfolio NOI

$       164,163

$       164,994

$       328,498

$       327,390

Straight line rental revenue adjustment

(4,938)

(6,328)

(15,235)

(13,835)

Above/(below) market lease revenue adjustments

(3,093)

(4,829)

(7,263)

(9,401)

Same Property Portfolio Cash NOI

$       156,132

$       153,837

$       306,000

$       304,154

Rexford Industrial Realty, Inc.

Reconciliation of Net (Loss) Income to Funds From Operations and Core Funds From Operations

(Unaudited and in thousands, except per share data)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Net (loss) income

$    (523,811)

$     120,394

$    (429,249)

$     194,442

Adjustments:

Depreciation and amortization

73,479

71,188

146,412

157,928

Impairment of real estate

624,754

—

631,578

—

Gains on sale of real estate

(21,893)

(44,361)

(48,174)

(57,518)

Funds From Operations (FFO)

$     152,529

$     147,221

$     300,567

$     294,852

Less: preferred stock dividends

(2,315)

(2,315)

(4,629)

(4,629)

Less: FFO attributable to noncontrolling interests(1)

(5,726)

(4,962)

(11,008)

(10,356)

Less: FFO attributable to participating securities(2)

(680)

(728)

(2,114)

(1,478)

Company share of FFO

$     143,808

$     139,216

$     282,816

$     278,389

Company Share of FFO per common share – basic

$          0.64

$          0.59

$          1.25

$          1.20

Company Share of FFO per common share – diluted

$          0.64

$          0.59

$          1.25

$          1.20

FFO

$     152,529

$     147,221

$     300,567

$     294,852

Adjustments:

Acquisition expenses(3)

—

23

—

102

Debt extinguishment and modification expenses

—

291

—

291

Non-capitalizable demolition costs(3)

—

—

—

365

Co-CEO transition costs(3)(4)

(2,330)

—

(2,330)

—

Severance costs(3)(5)

269

199

269

1,682

Other nonrecurring expenses(3)(6)

45

—

107

—

Write-offs of below-market lease intangibles related to unexercised renewal options(7)

(497)

—

(497)

—

Core FFO

$     150,016

$     147,734

$     298,116

$     297,292

Less: preferred stock dividends

(2,315)

(2,315)

(4,629)

(4,629)

Less: Core FFO attributable to noncontrolling interest(1)

(5,631)

(4,979)

(10,915)

(10,440)

Less: Core FFO attributable to participating securities(2)

(668)

(731)

(1,412)

(1,491)

Company share of Core FFO

$     141,402

$     139,709

$     281,160

$     280,732

Company share of Core FFO per common share – basic

$          0.63

$          0.59

$          1.24

$          1.21

Company share of Core FFO per common share – diluted

$          0.63

$          0.59

$          1.24

$          1.21

Weighted-average shares of common stock outstanding – basic

223,812

236,099

226,050

231,771

Weighted-average shares of common stock outstanding – diluted

223,812

236,099

226,050

231,771

(1)

Noncontrolling interests relate to interests in the Company's operating partnership, represented by common units and preferred units (Series 2 & 3 CPOP units) of partnership interests in the operating partnership that are owned by unit holders other than the Company. On March 6, 2025, we exercised our conversion right to convert all remaining Series 2 CPOP units into OP Units.

(2)

Participating securities include unvested shares of restricted stock, unvested LTIP units and unvested performance units.

(3)

Amounts are included in the line item "Other expenses, net" in the consolidated statements of operations.

(4)

Reflects a decrease in share-based compensation expense related to updated estimates of Core FFO growth achievement for certain performance awards held by former Co-CEOs and employer payroll taxes associated with the vesting of transition-related restricted stock awards in April 2026.

(5)

Includes costs associated with workforce reduction and workforce reorganization.

(6)

Reflects nonrecurring advisory service costs.

(7)

Reflects the write-off of the portion of a below-market lease intangible attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.

Rexford Industrial Realty, Inc.

Reconciliation of Net Loss to Adjusted EBITDAre

(Unaudited and in thousands)

Three Months Ended
June 30, 2026

Net loss

$                     (523,811)

Interest expense

28,571

Depreciation and amortization

73,479

Impairment of real estate

624,754

Gains on sale of real estate

(21,893)

EBITDAre

$                      181,100

Stock-based compensation amortization

3,666

Write-offs of below-market lease intangibles related to unexercised renewal options(1)

(497)

Co-CEO transition costs(2)

(2,330)

Other nonrecurring expenses

45

Pro forma effect of dispositions(3)

68

Adjusted EBITDAre

$                      182,052

(1)

Reflects the write-off of the portion of a below-market lease intangible attributable to below-market fixed rate renewal options that were not exercised upon expiration of the initial lease term.

(2)

Reflects a decrease in share-based compensation expense related to updated estimates of Core FFO growth achievement for certain performance awards held by former Co-CEOs and payroll taxes associated with the vesting of transition-related restricted stock awards in April 2026.

(3)

Represents the impact on second quarter 2026 EBITDAre of properties disposed of during the quarter as if such dispositions had occurred on April 1, 2026.

SOURCE Rexford Industrial Realty, Inc.

Rexford Industrial (REXR) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO estimate revisions for the stock doesn't suggest further strength down the road.

, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout infill Southern California, today announced that the Company will release second quarter 2026 financial results after the market closes on Thursday, July 23, 2026. A conference call with senior management will be held on Friday, July 24, 2026 at 11 a.m. ET.

To participate in the live telephone conference call, please access the following dial-in numbers at least five minutes prior to the start time using Meeting ID 401 760 274.

1 (585) 542-9983 (Local) 1 (833) 461-5787 (Toll-Free) A webcast and replay of the conference call will also be available in listen-only mode at ir.rexfordindustrial.com.

About Rexford Industrial

Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of March 31, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 414 properties with approximately 50.4 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Contact
Doug Bettisworth
SVP, Investor Relations and Capital Markets
(310) 943-7157
[email protected]

SOURCE Rexford Industrial Realty, Inc.

Rexford Industrial Realty remains a high-quality, pure-play industrial REIT focused on infill Southern California, benefiting from structural land scarcity. 2026 guidance points to flat-to-declining Core FFO, negative same-store NOI growth, and slightly lower occupancy, reflecting ongoing market headwinds. The dividend yield is 5.1% but offers no near-term growth; the payout ratio is elevated as AFFO trends downward, with sustainability but limited upside.

Rexford Industrial Realty stands out among industrial REITs with investment-grade credit ratings and low leverage, supporting portfolio stability. REXR's preferred stocks (REXR.PR.B, REXR.PR.C) yield over 6.7%, trade below par, and offer superior risk-adjusted returns versus common shares' modest AFFO yield. Key credit metrics include a 5x Net Debt/EBITDA, 5.8x EBITDA coverage, and 99.25% unencumbered assets, reflecting strong financial flexibility.

Rexford Industrial (REXR - Free Report) came out with quarterly funds from operations (FFO) of $0.61 per share, beating the Zacks Consensus Estimate of $0.6 per share. This compares to FFO of $0.62 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an FFO surprise of +1.46%. A quarter ago, it was expected that this industrial real estate investment trust would post FFO of $0.58 per share when it actually produced FFO of $0.59, delivering a surprise of +1.72%.

Over the last four quarters, the company has surpassed consensus FFO estimates four times.

Rexford Industrial, which belongs to the Zacks REIT and Equity Trust - Other industry, posted revenues of $245.08 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.04%. This compares to year-ago revenues of $252.29 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future FFO expectations will mostly depend on management's commentary on the earnings call.

Rexford Industrial shares have lost about 6.4% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Rexford Industrial?While Rexford Industrial has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's FFO outlook. Not only does this include current consensus FFO expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Rexford Industrial was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus FFO estimate is $0.60 on $244.55 million in revenues for the coming quarter and $2.40 on $998.57 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, REIT and Equity Trust - Other is currently in the top 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

One other stock from the same industry, Extra Space Storage (EXR - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on April 28.

This self-storage facility real estate investment trust is expected to post quarterly earnings of $2.01 per share in its upcoming report, which represents a year-over-year change of +0.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Extra Space Storage's revenues are expected to be $850.37 million, up 3.7% from the year-ago quarter.

Rexford Industrial Realty, Inc. (REXR) Q1 2026 Earnings Call Transcript

Posted by Defense World Staff on Apr 27th, 2026

Rexford Industrial Realty, Inc. (NYSE:REXR – Get Free Report) has earned an average recommendation of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $41.9231.

Several analysts have issued reports on REXR shares. Barclays reissued an “underweight” rating on shares of Rexford Industrial Realty in a research note on Tuesday, January 13th. Wall Street Zen raised shares of Rexford Industrial Realty from a “strong sell” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Rexford Industrial Realty in a research note on Thursday, January 22nd. Cantor Fitzgerald reduced their target price on shares of Rexford Industrial Realty from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Finally, Citigroup reduced their target price on shares of Rexford Industrial Realty from $46.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th.

Check Out Our Latest Stock Report on REXR

Rexford Industrial Realty Stock Up 0.0% Shares of NYSE REXR opened at $35.48 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.50 and a quick ratio of 2.51. The company has a market cap of $7.97 billion, a P/E ratio of 38.15, a PEG ratio of 2.58 and a beta of 1.26. Rexford Industrial Realty has a 1 year low of $32.14 and a 1 year high of $44.38. The firm has a 50-day simple moving average of $35.37 and a two-hundred day simple moving average of $38.77.

Rexford Industrial Realty (NYSE:REXR – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. The business had revenue of $242.14 million during the quarter, compared to the consensus estimate of $243.79 million. Rexford Industrial Realty had a net margin of 23.25% and a return on equity of 2.64%. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Rexford Industrial Realty has set its FY 2026 guidance at 2.370-2.42 EPS. Research analysts anticipate that Rexford Industrial Realty will post 2.39 earnings per share for the current year.

Rexford Industrial Realty Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.435 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.9%. Rexford Industrial Realty’s dividend payout ratio (DPR) is 187.10%.

Rexford Industrial Realty News Roundup Here are the key news stories impacting Rexford Industrial Realty this week:

Positive Sentiment: Quarterly EPS and net income beat consensus — Rexford reported net income of $87.9M, or $0.38 per diluted share, topping consensus and showing year‑over‑year improvement in net income. Rexford Industrial Announces First Quarter 2026 Financial Results Positive Sentiment: FFO slightly beat estimates — Q1 funds from operations were $0.61/sh versus the Zacks consensus $0.60, a modest positive for REIT valuation metrics. Rexford Industrial (REXR) Q1 FFO Beat Estimates Positive Sentiment: Dividend increased/declared — Rexford declared a quarterly dividend of $0.435 per share (annualized yield ~4.8%), which supports income‑oriented holders and may attract dividend investors. REXR Stock Page Neutral Sentiment: Relative peer comparison published — A financial survey comparing REXR to Community Healthcare Trust provides a refreshed view of valuation, dividends and institutional ownership but contains no new company‑specific catalysts. Financial Survey: Rexford Industrial Realty (NYSE:REXR) versus Community Healthcare Trust (NYSE:CHCT) Negative Sentiment: Revenue miss and y/y revenue decline — Q1 revenue was $242.14M, slightly below consensus (~$243.8M) and down ~2.9% y/y, raising questions about near‑term demand in its Southern California industrial portfolio. Rexford Industrial Announces First Quarter 2026 Financial Results Negative Sentiment: FY‑2026 EPS guidance is conservative relative to consensus — Management set full‑year EPS guidance at 2.370–2.42, roughly in line with but slightly under consensus (2.40), which may temper upside expectations. Press Release / Slide Deck Insider Activity at Rexford Industrial Realty In related news, Director David P. Stockert bought 5,000 shares of Rexford Industrial Realty stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $37.39 per share, with a total value of $186,950.00. Following the completion of the transaction, the director owned 6,829 shares in the company, valued at $255,336.31. The trade was a 273.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Fitzmaurice bought 2,650 shares of Rexford Industrial Realty stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $37.55 per share, for a total transaction of $99,507.50. Following the completion of the transaction, the chief financial officer owned 14,133 shares of the company’s stock, valued at approximately $530,694.15. This trade represents a 23.08% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 12,960 shares of company stock valued at $486,804. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Rexford Industrial Realty A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its position in shares of Rexford Industrial Realty by 7.4% during the third quarter. EverSource Wealth Advisors LLC now owns 3,493 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 241 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rexford Industrial Realty by 6.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,185 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 293 shares during the period. Covestor Ltd increased its position in shares of Rexford Industrial Realty by 6.2% during the third quarter. Covestor Ltd now owns 6,161 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 359 shares during the period. Lazard Asset Management LLC increased its position in shares of Rexford Industrial Realty by 1.0% during the second quarter. Lazard Asset Management LLC now owns 35,475 shares of the real estate investment trust’s stock worth $1,261,000 after acquiring an additional 362 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Rexford Industrial Realty by 1.0% during the first quarter. IFM Investors Pty Ltd now owns 38,360 shares of the real estate investment trust’s stock worth $1,256,000 after acquiring an additional 370 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.

About Rexford Industrial Realty (Get Free Report)

Rexford Industrial Realty, Inc (NYSE: REXR) is a real estate investment trust (REIT) specializing in the acquisition, ownership and operation of industrial properties in Southern California. The company’s portfolio is concentrated in infill locations across key supply-chain markets, where it targets modern distribution centers, logistics facilities and light manufacturing spaces. Rexford’s strategy emphasizes buildings that offer proximity to major transportation routes and labor pools, catering to tenants in e-commerce, third-party logistics and manufacturing industries.

Since its founding in 2013, Rexford Industrial Realty has executed a disciplined growth plan driven by property acquisitions, selective development projects and strategic value-add initiatives.

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Rexford Industrial Realty, Inc. (REXR) Shareholder/Analyst Call Prepared Remarks Transcript

, /PRNewswire/ -- Rexford Industrial Realty, Inc. (the "Company" or "Rexford Industrial") (NYSE: REXR), a real estate investment trust focused on creating value by investing in and operating industrial properties throughout infill Southern California, today published its 2025 Environmental, Social and Governance Impact (ESGi) Report.

"Our ESGi Report reflects continued progress integrating sustainability across our strategy and operations — from reducing emissions to strengthening our commitment to our team and communities," said Laura Clark, Chief Executive Officer. "We remain focused on building a resilient and efficient industrial platform that drives durable value creation for our shareholders."

Rexford Industrial's sustainability efforts continue to earn recognition from leading global institutions. The Company was named an S&P Global Sustainability Yearbook Member, a designation for the top 15% of real estate investment trusts. Rexford Industrial also earned GRESB Sector Leader status and holds the Platinum Green Lease Leader designation.

To access our 2025 ESGi Report and associated ESGi Data Book, as well as learn more about our ESG goals, please visit rexfordindustrial.com/ESG.

About Rexford Industrial
Rexford Industrial creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term. The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities. As of March 31, 2026, Rexford Industrial's high-quality, irreplaceable portfolio comprised 414 properties with approximately 50.4 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange under the ticker "REXR," Rexford Industrial is an S&P MidCap 400 Index member. For more information, please visit rexfordindustrial.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "estimates," "predicts," or "potential" or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. While forward-looking statements reflect the Company's good faith beliefs, assumptions and expectations, they are not guarantees of future performance. In addition, projections, assumptions and estimates of our future performance and the future performance of the industry in which we operate are necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in our estimates and beliefs and in the estimates prepared by independent parties. For a further discussion of these and other factors that could cause the Company's future results to differ materially from any forward-looking statements, see the reports and other filings by the Company with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and other filings with the Securities and Exchange Commission. The Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Contact
Mikayla Lynch
Director, Investor Relations and Capital Markets
(424) 276-3454
[email protected] 

SOURCE Rexford Industrial Realty, Inc.

Rexford Industrial Realty, Inc. (REXR) Presents at Nareit REITweek: 2026 Investor Conference Transcript

On June 09, 2026, Rexford Industrial Realty Inc REXR shares rose 3.0%, bringing the current price to $34.99. Despite today's gain, the stock has experienced a decline of 8.4% year-to-date and is trading within a 52-week range of $32.14 to $44.38.

GF Value™ verdict: The current price of $34.99 is 18.6% below the GF Value™ estimate of $42.98.GF Score™: 89/100, indicating a strong potential for long-term returns.Notable signal: Insider activity shows that insiders sold $2.0M worth of shares in the last 3 months, with no purchases recorded. Is REXR Overvalued or Undervalued? Rexford Industrial Realty Inc's current price of $34.99 is significantly lower than the estimated GF Value™ of $42.98, indicating that the stock is undervalued by approximately 18.6%. This margin of safety suggests an opportunity for investors, as the stock may have room to appreciate towards its intrinsic value. The GF Valuation label classifies REXR as "Modestly Undervalued," which implies that while there is potential for price recovery, investors should remain cautious of market volatility and economic factors that could impact the stock's performance.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the current pricing dynamics, REXR presents an interesting case for examination, particularly in light of its strong GF Score™ and favorable profitability and growth rankings.

How Does REXR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 37.6x 48.3x Forward P/E 29.7x N/A The current P/E (TTM) of 37.6x is notably below its 5-year median P/E of 48.3x, indicating that REXR is trading at a lower valuation compared to its historical performance. Furthermore, the forward P/E of 29.7x reflects a potentially attractive valuation moving forward. This P/E analysis aligns with the GF Value™ verdict of being undervalued, reinforcing the notion that REXR may offer an attractive opportunity in a recovering market.

What Does REXR's GF Score™ Tell Us? Metric Rating GF Score™ 89 Financial Strength 5/10 Profitability 9/10 Growth 9/10 Valuation 8/10 Momentum 5/10 The GF Score™ of 89/100 indicates a strong investment profile, particularly in the areas of profitability and growth, both rated at 9/10. However, the financial strength rating of 5/10 suggests some areas of concern, potentially related to leverage or liquidity. The valuation score of 8/10 further supports the notion that the stock is undervalued, while the momentum score of 5/10 indicates mixed signals regarding recent price movements.

What Are Insiders Doing with REXR Stock? Recent insider activity regarding Rexford Industrial Realty Inc has shown a concerning trend, with insiders selling $2.0 million worth of shares over the past three months, without any reported purchases. This pattern may suggest a lack of confidence among insiders about the stock's short-term performance. While insider selling can sometimes indicate potential issues within the company, it is essential to consider broader market conditions and company fundamentals before drawing conclusions.

What This Means for Investors Based on the analysis of GF Value™, REXR appears to be undervalued at its current price of $34.99, presenting a potential opportunity for investors. However, the recent insider selling and mixed momentum signals warrant caution. Investors should weigh these factors carefully when considering their investment strategies.

For the complete analysis, visit the Rexford Industrial Realty Inc REXR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is REXR's GF Score™?

REXR's GF Score™ is 89/100, indicating a strong potential for long-term returns based on key financial metrics.

Is REXR overvalued or undervalued?

REXR is currently undervalued, with a GF Value™ estimate of $42.98 compared to its current price of $34.99.

What is REXR's P/E ratio?

REXR's P/E (TTM) is 37.6x, which is below its 5-year median P/E of 48.3x, suggesting the stock is trading at a lower valuation historically.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].