Rexford Industrial Realty, Inc.

DB:3I0 Stock Report

Market Cap: €8.9b

Rexford Industrial Realty Valuation

Is 3I0 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 3I0 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 3I0 (€40) is trading below our estimate of fair value (€79.29)

Significantly Below Fair Value: 3I0 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 3I0?

Key metric: As 3I0 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 3I0. This is calculated by dividing 3I0's market cap by their current earnings.
What is 3I0's PE Ratio?
PE Ratio35.9x
EarningsUS$265.13m
Market CapUS$9.34b

Price to Earnings Ratio vs Peers

How does 3I0's PE Ratio compare to its peers?

The above table shows the PE ratio for 3I0 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average44.5x
EGP EastGroup Properties
36.8x10.0%US$8.5b
A17U CapitaLand Ascendas REIT
81x23.0%S$11.4b
FR First Industrial Realty Trust
23.4x-6.1%US$7.1b
TRNO Terreno Realty
36.9x9.9%US$6.0b
3I0 Rexford Industrial Realty
35.9x12.4%€9.3b

Price-To-Earnings vs Peers: 3I0 is good value based on its Price-To-Earnings Ratio (35.9x) compared to the peer average (44.5x).

Price to Earnings Ratio vs Industry

How does 3I0's PE Ratio compare vs other companies in the Global Industrial REITs Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
3I0 35.9xIndustry Avg. 20.2xNo. of Companies9PE01224364860+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 3I0 is expensive based on its Price-To-Earnings Ratio (35.9x) compared to the Global Industrial REITs industry average (20.1x).

Price to Earnings Ratio vs Fair Ratio

What is 3I0's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

3I0 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio35.9x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 3I0's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 3I0 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€40.00
€48.33
+20.8%
8.7%€57.94€41.80n/a16
Nov ’25€39.60
€47.70
+20.4%
8.0%€56.29€40.60n/a16
Oct ’25€44.20
€49.25
+11.4%
9.3%€59.31€41.34n/a16
Sep ’25€45.60
€49.31
+8.1%
9.1%€59.38€41.39n/a16
Aug ’25€46.20
€50.99
+10.4%
12.1%€64.75€42.55n/a16
Jul ’25€41.00
€49.04
+19.6%
14.4%€64.53€41.48n/a15
Jun ’25€41.20
€48.98
+18.9%
14.5%€64.53€41.48n/a15
May ’25€39.80
€50.07
+25.8%
14.3%€65.47€42.09n/a15
Apr ’25€46.40
€54.66
+17.8%
10.7%€65.17€41.90n/a14
Mar ’25€47.60
€55.23
+16.0%
8.1%€64.51€47.92n/a14
Feb ’25€49.40
€55.79
+12.9%
8.4%€64.39€47.83n/a14
Jan ’25€51.00
€52.38
+2.7%
12.3%€63.37€41.64n/a14
Dec ’24€46.60
€51.96
+11.5%
12.4%€63.97€42.03n/a14
Nov ’24€41.40
€53.55
+29.4%
12.4%€65.93€43.33€39.6014
Oct ’24€46.20
€59.23
+28.2%
10.5%€67.42€48.69€44.2012
Sep ’24€49.20
€56.79
+15.4%
10.8%€64.90€46.87€45.6010
Aug ’24€49.20
€56.79
+15.4%
10.8%€64.90€46.87€46.2010
Jul ’24€47.40
€59.28
+25.1%
12.1%€70.55€47.64€41.0010
Jun ’24€49.00
€65.08
+32.8%
4.3%€72.05€61.76€41.209
May ’24€50.50
€63.20
+25.2%
4.3%€69.85€59.88€39.809
Apr ’24€54.50
€64.34
+18.1%
7.2%€74.72€57.20€46.408
Mar ’24€55.50
€66.35
+19.6%
7.6%€76.42€58.49€47.609
Feb ’24€58.00
€62.41
+7.6%
4.3%€66.14€57.75€49.408
Jan ’24€51.50
€63.68
+23.6%
5.3%€69.81€58.49€51.008
Dec ’23€52.00
€66.27
+27.4%
8.2%€77.64€60.17€46.607
Nov ’23€55.50
€69.62
+25.5%
12.0%€84.30€58.21€41.408

Analyst Forecast: Target price is less than 20% higher than the current share price.

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