Rexford Industrial Realty (REXR) AI Stock Analysis

• Market Cap: $8.12B
• Dividend Yield: 4.91%
• Average Volume (3M): 3.01M
• Price to Earnings (P/E): 27.9
• Beta (1Y): 0.95
• Revenue Growth: 18.02%
• EPS Growth: 12.12%
• Country: US
• Employees: 271
• Sector: Real Estate
• Sector Strength: 76
• Industry: REIT - Industrial
• EPS (TTM): 1.23
• Shares Outstanding: 236,685,040
• 10 Day Avg. Volume: 2,494,085
• 30 Day Avg. Volume: 3,012,621
• PEG Ratio: 2.30
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.52
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 17.03
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $39.36
• Price Target Upside: 14.75% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 12

Rexford Industrial Realty's overall score is driven by its strong financial performance and positive earnings call analysis, indicating robust growth and strategic positioning. However, technical indicators suggest caution due to weak market momentum, and the valuation appears slightly high. The company's solid dividend yield provides some offsetting value.

Positive Factors

Earnings performance

The company reported Core FFO numbers of $0.62, a 6.9% increase year-over-year, which was higher than consensus estimates.

Financial stability

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

Strategic acquisitions

The company completed strategic acquisitions, including a cross-dock industrial building and a Class-A building, both generating significant initial unlevered cash yields.

Negative Factors

Leasing activity

Near-term leasing could be challenging with nearly 7 million square feet rolling and significant upcoming tenant move-outs.

Market conditions

Industrial fundamentals continue to weaken with market rents falling -9.4% y/y, REXR's mark-to-market now 20%, and REXR's new leases spreads turned negative.

Occupancy challenges

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

Rexford Industrial Realty Business Overview & Revenue Model

Company Description

Rexford Industrial Realty, Inc. (REXR) is a real estate investment trust (REIT) focused on owning, operating, and acquiring industrial properties in Southern California. The company specializes in high-demand, supply-constrained markets, providing tailored industrial real estate solutions to a diverse range of tenants. Rexford's portfolio includes warehouses, distribution centers, and light manufacturing facilities strategically located near major transportation hubs and urban centers.

How the Company Makes Money

Rexford Industrial Realty generates revenue primarily through leasing its industrial properties to a wide array of tenants. The company's revenue model is based on collecting rental income from its leased properties, which is typically structured as long-term leases providing a consistent income stream. Additionally, Rexford enhances its revenue through strategic property acquisitions, value-add investments, and property management fees. The company also benefits from its focus on Southern California's industrial real estate market, which is characterized by limited supply and high demand, driving rental rate growth and property appreciation. Partnerships with local businesses and brokers further enable Rexford to maintain high occupancy rates and optimize its revenue potential.

Rexford Industrial Realty Financial Statement Overview

Summary

Rexford Industrial Realty demonstrates strong financial performance with solid income growth, efficient operational management, and robust cash flow metrics. The company's conservative debt profile and strong equity position further support its stable financial stance.

Income Statement

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

Balance Sheet

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

Cash Flow

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

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
936.41M	797.83M	631.20M	452.24M	330.13M
	Gross Profit
726.15M	613.35M	480.70M	344.52M	250.42M
	EBIT
368.75M	293.81M	218.08M	142.96M	98.36M
	EBITDA
659.77M	538.32M	414.88M	327.65M	213.62M
	Net Income Common Stockholders
273.80M	238.02M	167.58M	89.40M	45.55M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
55.97M	33.44M	36.79M	43.99M	176.29M
	Total Assets
12.65B	10.93B	9.26B	6.78B	4.95B
	Total Debt
3.49B	2.23B	1.94B	1.40B	1.22B
	Net Debt
3.44B	2.19B	1.90B	1.36B	1.04B
	Total Liabilities
3.92B	2.79B	2.34B	1.71B	1.42B
	Stockholders Equity
8.32B	7.77B	6.56B	4.78B	3.25B
Cash Flow		Free Cash Flow
105.53M	160.98M	192.60M	128.99M	104.23M
	Operating Cash Flow
478.92M	427.55M	327.69M	231.46M	182.99M
	Investing Cash Flow
-1.84B	-1.68B	-2.45B	-1.91B	-987.52M
	Financing Cash Flow
1.38B	1.25B	2.11B	1.55B	903.20M

Rexford Industrial Realty Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 34.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For REXR, the sentiment is Neutral. The current price of 34.3 is above the 20-day moving average (MA) of 32.99, below the 50-day MA of 36.95, and below the 200-day MA of 42.14, indicating a neutral trend. The MACD of -0.98 indicates Negative momentum. The RSI at 48.83 is Neutral, neither overbought nor oversold. The STOCH value of 78.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for REXR.

Rexford Industrial Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STAG	73 Outperform	$6.46B	25.58	7.15%	4.38%	8.81%	33.30%
FR	70 Outperform	$6.69B	24.31	10.18%	3.17%	9.18%	-7.05%
REXR	69 Neutral	$8.12B	27.87	3.35%	4.91%	18.02%	12.12%
EGP	69 Neutral	$8.78B	36.53	7.61%	3.27%	11.92%	-0.83%
TRNO	66 Neutral	$5.94B	30.07	5.59%	3.33%	18.24%	6.95%
LXP	64 Neutral	$2.41B	62.64	2.98%	6.50%	5.27%	58.15%
Sector *	60 Neutral	$2.79B	11.37	0.20%	8519.74%	6.07%	-14.95%

Rexford Industrial Realty Corporate Events

Rexford Industrial Realty Reports Strong Q1 2025 Results

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

Spark’s Take on REXR Stock

According to Spark, TipRanks’ AI Analyst, REXR is a Outperform.

Rexford Industrial Realty receives a strong overall score due to its solid financial performance and strategic positioning. The company’s robust revenue growth and profitability, combined with disciplined financial management, are key strengths. However, concerns about valuation and market conditions, such as declining market rents and occupancy challenges, warrant cautious optimism. Recent corporate achievements further affirm its resilience and potential for sustainable growth.

To see Spark’s full report on REXR stock, click here.

Rexford Industrial Realty Chairman Announces Retirement

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

Spark’s Take on REXR Stock

According to Spark, TipRanks’ AI Analyst, REXR is a Outperform.

Rexford Industrial Realty receives a strong overall score due to its solid financial performance and strategic positioning. The company’s robust revenue growth and profitability, combined with disciplined financial management, are key strengths. However, concerns about valuation and market conditions, such as declining market rents and occupancy challenges, warrant cautious optimism. Recent corporate achievements further affirm its resilience and potential for sustainable growth.

To see Spark’s full report on REXR stock, click here.

Rexford Industrial Realty Reports Strong 2024 Financial Results

Rexford Industrial Realty announced solid financial and operating results for the fourth quarter and full year of 2024, demonstrating the strength of its business model. The company reported a net income attributable to common stockholders of $262.9 million for 2024, marking a significant increase from the previous year. Core FFO also rose by 15%, with rental rates showing significant growth across new and renewal leases. The company completed acquisitions worth $1.5 billion and maintained a low-leverage balance sheet, indicating strong financial health and strategic positioning in the market.