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REIT focused exclusively on infill industrial properties in Southern California's supply-constrained submarkets.
REIT focused exclusively on infill industrial properties in Southern California's supply-constrained submarkets.
Rents multi-tenant industrial space on relatively short leases, so rents reset to market quickly, and buys older infill buildings to upgrade and re-lease at higher rents. Growth requires continuously buying or redeveloping buildings, funded with equity and debt.
Moat: narrow (scale, installed base). Concentrated in land-constrained Southern California infill markets nearly impossible to replicate.
Headquarters: Los Angeles, California, United States · Founded: 2001 · Employees: 256
Size Rexford Industrial Realty (REXR) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $8.02B, the 881st largest of 3,117 United States companies the cockpit tracks. Shares closed at $37.80 on 6 Nov 2026.
Performance Over six months the shares gained 4.2%, against -1.3% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 1.8% over the last twelve months (peer median +7.3%); the operating margin is 39.9% (peer median 39.5%).
Valuation It trades at 1.16× book value against a peer median of 1.68× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 11.7%; Rexford Industrial Realty delivers -5.9%, so the price asks more than the business earns today.
Credit Rexford Industrial Realty has 3 bonds outstanding ($1.10B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 85 bp.
Short interest Short interest is 5.5% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $976M | $998M | $933M | $794M | $631M |
| Revenue growth | — | +7% | +17% | +26% | — |
| Gross profit | $449M | $454M | $447M | $365M | $284M |
| EBITDA | $687M | $697M | $644M | $538M | $416M |
| Net income | -$464M | $209M | $272M | $237M | $167M |
| Free cash flow | $262M | $209M | $106M | $161M | $193M |
| Capital expenditure | $249M | $333M | $373M | $389M | $135M |
| Total debt | $2.88B | $3.38B | $3.50B | $2.38B | $2.09B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Rexford Industrial Realty REXR | $8.02B | +4% | -2% | -6% | 1.16× | 11.7% |
| EastGroup Properties EGP | $10.4B | -6% | +10% | 9% | 2.92× | 22.3% |
| Terreno Realty TRNO | $7.24B | 0% | +18% | 9% | 1.61× | 14.0% |
| First Industrial Realty Trust FR | $7.13B | -14% | +9% | 13% | 2.57× | 20.9% |
| Prologis PLD | $123B | -11% | +7% | 8% | 2.16× | 20.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | REXR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.5% | +5.6% | 6th lowest of 21 |
| 6-month return | +4.2% | -1.3% | 6th highest of 21 |
| Return on equity | -5.9% | 9.0% | 3rd lowest of 21 |
| Price / book | 1.16× | 1.68× | 9th cheapest of 21 |
| ROE the price implies | 11.7% | 13.4% | 8th least demanding of 21 |
| ROE delivered | -5.9% | 9.0% | 3rd lowest of 21 |
| Bond spread | 85 bp | 101 bp | 2nd tightest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Rexford Industrial Realty REXR | United States | $8.02B | +4% | -2% | -6% | 1.16× | 11.7% | -5.9% |
| Vicinity Centres VCX.AX | Australia | $8.01B | 0% | +3% | 12% | 0.94× | 9.7% | 12.0% |
| MERLIN Properties SOCIMI MRL.MC | Spain | $8.05B | -23% | +13% | 10% | 0.77× | 8.0% | 9.9% |
| Choice Properties Real Estate Investment Trust CHP-UN.TO | Canada | $7.95B | -1% | +4% | -2% | 2.66× | 14.7% | -1.7% |
| NNN REIT NNN | United States | $7.89B | -7% | +7% | 9% | 1.75× | 12.9% | 8.9% |
| Alexandria Real Estate Equities ARE | United States | $7.80B | -2% | -10% | -9% | 0.52× | 7.0% | -9.1% |
| Stockland SGP.AX | Australia | $7.74B | +15% | +15% | 10% | 1.04× | 11.7% | 9.5% |
| Land Securities LAND.L | United Kingdom | $7.51B | +20% | +7% | 5% | 0.77× | 11.9% | 5.3% |
| COPT Defense Properties CDP | United States | $7.43B | +4% | +7% | 11% | 2.42× | 17.3% | 11.2% |
| CapitaLand Ascendas REIT A17U.SI | Singapore | $8.83B | -9% | +7% | 7% | 0.99× | 5.2% | 7.0% |
| Charter Hall CHC.AX | Australia | $7.26B | +14% | -19% | 37% | 18.01× | 213.5% | 36.9% |
| Terreno Realty TRNO | United States | $7.24B | 0% | +18% | 9% | 1.61× | 14.0% | 9.2% |
| Lineage LINE | United States | $8.91B | -2% | +1% | -2% | 1.13× | 9.9% | -2.0% |
| First Industrial Realty Trust FR | United States | $7.13B | -14% | +9% | 13% | 2.57× | 20.9% | 13.2% |
| CareTrust REIT CTRE | United States | $9.03B | -8% | +53% | 9% | 2.01× | 14.7% | 9.1% |
| Agree Realty ADC | United States | $9.09B | -8% | +18% | 4% | 1.34× | 8.2% | 3.8% |
| Ryman Hospitality Properties RHP | United States | $9.11B | +19% | +13% | 26% | 6.58× | 55.9% | 26.0% |
| STAG Industrial STAG | United States | $7.06B | -6% | +9% | 8% | 1.93× | 15.5% | 7.6% |
| Macerich MAC | United States | $7.04B | +14% | +9% | -14% | 2.50× | 33.9% | -14.5% |
| Brixmor Property BRX | United States | $9.21B | +1% | +5% | 14% | 3.05× | 23.1% | 14.2% |
| CapitaLand Investment 9CI.SI | Singapore | $9.22B | -11% | -15% | 1% | 0.94× | 7.9% | 1.5% |
Rexford Industrial Realty has 3 bonds outstanding with $1.10B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.45%, a spread of 85 bp over government bonds.