# Rexford Industrial Realty, Inc. (REXR)

> Source: Nexqual · https://nexqual.com/REXR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Rexford Industrial Realty, Inc. (REXR), nexqual.com/REXR" · informational, not investment advice.

**Price:** USD 36.28 (-1.41% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 36.8 · day 35.73–36.92 · 52w 32.14–43.09 · market cap $8.29B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $992M, net income -$388M (-39.2% margin), free cash flow $227M (SEC filings).
- 1 of 80 tracked superinvestors hold REXR (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $1.2M; 1 not under a Rule 10b5-1 plan ($1.2M); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.67 on a 1–5 scale) (18 analysts), mean target USD 40.38 (range 36–45).
- Total return with dividends: 1Y -10.9% vs S&P 500 +14.9%; 5Y -34.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 0.32, revenue estimate $239M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $452M | $631M | $798M | $936M | $1.00B | $992M |
| Net income | $128M | $168M | $238M | $274M | $212M | -$388M |
| EPS (diluted) | $0.80 | $0.92 | $1.12 | $1.20 | $0.86 | — |
| Free cash flow | $129M | $193M | $161M | $106M | $209M | $227M |
| Net margin | 28.4% | 26.5% | 29.8% | 29.2% | 21.1% | -39.2% |
| Revenue growth | +37.0% | +39.6% | +26.4% | +17.4% | +7.1% | — |
| Cash + short-term investments | $44.0M | $36.8M | $33.4M | $56.0M | $166M | — |
| Total debt | $1.40B | $1.94B | $2.23B | $3.35B | $3.25B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 8.4x · EV/Sales 11.6x · P/FCF 36.5x · P/B 1.1x · FCF yield 2.74% · Earnings yield -4.68% · Dividend yield (paid, TTM) 4.82% · Buyback yield (TTM) 6.63% · Net debt $3.23B · EV $11.5B
P/E at fiscal year-ends: Dec 2025 42.5x, Dec 2024 30.8x, Dec 2023 47.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold REXR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Christopher Davis | Davis Advisors | 0.03% | $6.4M | Reduced -8.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-28 | Lanzer David E. | General Counsel & Secretary | 33,299 | $1.2M | 100% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.67 on a 1–5 scale), 18 analysts; mean target USD 40.38 (low 36, high 45).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Mizuho | Upgrade | Neutral → Outperform | $38 → $41 |
| 2026-10-12 | Truist Securities | Target raised | Buy | $38 → $39 |
| 2026-09-28 | BMO Capital | Target raised | Outperform | $38 → $39 |
| 2026-09-16 | Raymond James | Upgrade | Underperform → Market Perform |  |
| 2026-09-01 | Wells Fargo | Target lowered | Overweight | $44 → $43 |
| 2026-08-31 | Scotiabank | Target raised | Sector Outperform | $38 → $40 |
| 2026-08-19 | Mizuho | Target raised | Neutral | $35 → $38 |
| 2026-08-12 | Scotiabank | Target raised | Sector Outperform | $36 → $38 |
| 2026-08-06 | Jefferies | Downgrade | Buy → Hold | $40 |
| 2026-08-03 | JP Morgan | Target raised | Underweight | $36 → $39 |
| 2026-07-27 | Evercore ISI Group | Target raised | Outperform | $40 → $42 |
| 2026-07-16 | Barclays | Target lowered | Underweight | $40 → $36 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -10.9% | -34.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -11.0% | -8.0% |
| Volatility (annualized) | 24.7% | 26.7% |
| Max drawdown | -23.2% (Oct 2025→Mar 2026) | -56.0% (Apr 2022→Apr 2025) |

## Peers (REIT - Industrial)
LINE (Lineage, Inc.) USD 35.09 +2.42% · FR (First Industrial Realty Trust, ) USD 55.29 -6.92% · CUBE (CubeSmart) USD 40.15 +3.05% · STAG (Stag Industrial, Inc.) USD 36.51 +0.14% · TRNO (Terreno Realty Corporation) USD 65.64 +0.12% · EGP (EastGroup Properties, Inc.) USD 202.7 -0.30%

## More
Full page: https://nexqual.com/REXR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in REXR's own 10-K filed 2026-02-11 (https://www.sec.gov/Archives/edgar/data/1571283/000157128326000006/rexr-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Rexford Industrial Realty and Management | "As of December 31, 2025, our Operating Partnership indirectly and wholly owns Rexford Industrial Realty and Management, Inc., which we refer to as our services company." |
| Partner | Restated Rexford Industrial Realty | "We maintain one share-based incentive plan, the Third Amended and Restated Rexford Industrial Realty, Inc. and Rexford Industrial Realty, L.P. 2013 Incentive Award Plan (the "Plan"), pursuant to which, we may make grants…" |

## Company outlook (8-K filed 2026-10-22)

- "The Company is updating its full year 2026 guidance as indicated below."
- "(3) Represents estimated annualized Cash NOI for repositioning and development projects expected to stabilize in 2026, including projects that stabilized in Q1 through Q3 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.32 | $0.26 | +22.5% | $239.1M | 2 |
| Next quarter (ends 2027-03-31) | $0.39 | $0.25 | +55.6% | $215.9M | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.56 | $1.26 | -144.5% | $968.8M | 4 |
| Next fiscal year (ends 2027-12-31) | $1.60 | $0.95 | +69.3% | $891.3M | 1 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 31.2% | ±7.5% |
| 2026-12-18 | 56 | 28.9% | ±9.7% |
| 2027-01-15 | 84 | 28.7% | ±11.7% |
| 2027-04-16 | 175 | 28.2% | ±15.6% |