Rexford Industrial Realty, Inc. REXR

Real estate SIC 6798 - Real Estate Investment Trusts NYSE

We are a self-administered and self-managed full-service REIT focused on owning, operating and acquiring industrial properties in Southern California infill markets. Our goal is to generate attractive risk-adjusted returns for our stockholders by providing superior access to industrial property investments and mortgage debt investments secured by industrial property in high-barrier Southern California infill markets.

We were formed as a Maryland corporation on January 18, 2013 and Rexford Industrial Realty, L.P. (the "Operating Partnership"), of which we are the sole general partner, was formed as a Maryland limited partnership on January 18, 2013. Through our controlling interest in our Operating Partnership and its subsidiaries, we acquire, own, improve, reposition, develop, lease and manage industrial real estate primarily located in Southern California infill markets, and from time to time, acquire or provide mortgage debt secured by industrial property. We also sell assets programmatically as part of our capital allocation strategy. As of December 31, 2025, our consolidated portfolio consisted of 419 properties with approximately 51.2 million rentable square feet.

Last close 36.79 2026-09-04
Market cap $8.20B 2026-06-30 share count
52-week range 32.14 - 44.38

Valuation FY2025 figures against the last close

P/S13,928.2x
P/E42.8x
P/FCF39.3x
EV/EBITDA
Dividend yield4.8%
Diluted EPS0.86

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $589.0K$611.0K$682.0K$616.0K$468.0K$420.0K$406.0K$473.0K$493.0K$473.0K
SG&A $78.9M$82.2M$75.0M$64.3M$49.0M$36.8M$30.3M$25.2M$21.6M$17.4M
Total operating expenses $622.5M$567.7M$504.0M$411.6M$308.0M$231.8M$192.5M$156.9M$128.6M$102.4M
Interest expense $104.9M$98.6M$61.4M$48.5M$40.1M$30.8M$26.9M$25.4M$20.2M$14.8M
Net income $219.8M$285.9M$249.6M$177.2M$136.2M$76.4M$62.0M$46.2M$40.7M$25.1M
EPS, basic 0.861.201.120.920.800.510.470.420.480.36
EPS, diluted 0.861.201.120.920.800.510.470.410.480.36
Shares, diluted (wtd. avg.) $232.6M$218.5M$203.1M$171.0M$140.1M$121.2M$106.8M$87.3M$71.6M$63.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $165.8M$56.0M$33.4M$36.8M$44.0M$177.5M$78.9M$180.6M$6.9M$15.5M
Other intangibles $140.6M$201.5M$153.7M$170.0M$132.2M$92.2M$73.1M$55.7M$49.2M$36.4M
Total assets $12.61B$12.65B$10.93B$9.26B$6.78B$4.95B$3.64B$2.79B$2.11B$1.52B
Long-term debt $3.25B$3.35B$2.23B$1.94B$1.40B$1.22B$857.8M$757.4M$668.9M$500.2M
Total liabilities $3.77B$3.92B$2.79B$2.34B$1.71B$1.42B$1.02B$879.3M$746.1M$552.9M
Total equity $8.46B$8.32B$8.14B$6.92B$5.07B$3.53B$2.62B$1.91B$1.37B$962.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $542.1M$478.9M$427.5M$327.7M$231.5M$183.0M$139.5M$102.8M$76.7M$56.4M
Stock-based compensation $100.5M$41.6M$33.6M$28.4M$19.5M$12.9M$10.8M$10.1M$5.4M$3.8M
Capital expenditure $333.4M$373.4M$266.6M$135.1M$102.5M$78.8M$47.2M$58.0M$42.3M$31.9M
Investing cash flow -$125.1M-$1.84B-$1.68B-$2.45B-$1.91B-$987.5M-$972.7M-$507.2M-$606.9M-$361.2M
Financing cash flow -$307.2M$1.38B$1.25B$2.11B$1.55B$903.2M$731.5M$578.2M$521.6M$315.1M
Dividends paid $397.5M$354.2M$290.7M$201.9M$129.8M$99.3M$75.5M$53.7M$40.2M$32.9M
Buybacks $250.1M$0$0$747.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001571283-26-000012.

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