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Rexford Industrial Realty

NYSE:REXR.PRB
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
REXR.PRB
NYSE
$4B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The last earnings update was 14 days ago. More info.


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REXR.PRB Share Price and Events
7 Day Returns
0.1%
NYSE:REXR.PRB
1.8%
US REITs
-0.7%
US Market
1 Year Returns
7.3%
NYSE:REXR.PRB
16.3%
US REITs
3%
US Market
REXR.PRB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Rexford Industrial Realty (REXR.PRB) 0.1% 0.3% 5.3% 7.3% - -
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • REXR.PRB underperformed the REITs industry which returned 16.3% over the past year.
  • REXR.PRB outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
REXR.PRB
Industry
5yr Volatility vs Market

REXR.PRB Value

 Is Rexford Industrial Realty undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Rexford Industrial Realty to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Rexford Industrial Realty.

NYSE:REXR.PRB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:REXR.PRB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (18.72%))
0.738
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NYSE:REXR.PRB using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Rexford Industrial Realty is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Rexford Industrial Realty is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:REXR.PRB DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 104.52 Analyst x3 97.23
2020 127.01 Analyst x4 109.91
2021 161.82 Analyst x2 130.26
2022 187.87 Est @ 16.1% 140.69
2023 210.59 Est @ 12.09% 146.70
2024 230.13 Est @ 9.28% 149.13
2025 246.97 Est @ 7.32% 148.88
2026 261.64 Est @ 5.94% 146.72
2027 274.66 Est @ 4.98% 143.28
2028 286.48 Est @ 4.3% 139.02
Present value of next 10 years cash flows $1,351.84
NYSE:REXR.PRB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $286.48 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$6,172.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $6,172.44 ÷ (1 + 7.5%)10
$2,995.39
NYSE:REXR.PRB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,351.84 + $2,995.39
$4,347.23
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $4,347.23 / 106.49
$26.7
NYSE:REXR.PRB Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NYSE:REXR.PRB represents 0.65414x of NYSE:REXR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.65414x
Value per Share
(Listing Adjusted, USD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 26.70 x 0.65414
$17.47
Value per share (USD) From above. $17.47
Current discount Discount to share price of $25.01
= -1 x ($25.01 - $17.47) / $17.47
-43.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Rexford Industrial Realty is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Rexford Industrial Realty's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Rexford Industrial Realty's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:REXR.PRB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.35
NYSE:REXR Share Price ** NYSE (2019-05-17) in USD $38.24
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Rexford Industrial Realty.

NYSE:REXR.PRB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:REXR Share Price ÷ EPS (both in USD)

= 38.24 ÷ 0.35

110.07x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rexford Industrial Realty is overvalued based on earnings compared to the US REITs industry average.
  • Rexford Industrial Realty is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Rexford Industrial Realty's expected growth come at a high price?
Raw Data
NYSE:REXR.PRB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 110.07x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-41.9%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:REXR.PRB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 110.07x ÷ -41.9%

-2.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rexford Industrial Realty earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Rexford Industrial Realty's assets?
Raw Data
NYSE:REXR.PRB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $18.74
NYSE:REXR Share Price * NYSE (2019-05-17) in USD $38.24
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:REXR.PRB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:REXR Share Price ÷ Book Value per Share (both in USD)

= 38.24 ÷ 18.74

2.04x

* Primary Listing of Rexford Industrial Realty.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rexford Industrial Realty is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Rexford Industrial Realty's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Rexford Industrial Realty has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

REXR.PRB Future Performance

 How is Rexford Industrial Realty expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-41.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Rexford Industrial Realty expected to grow at an attractive rate?
  • Rexford Industrial Realty's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Rexford Industrial Realty's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Rexford Industrial Realty's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:REXR.PRB Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:REXR.PRB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -41.9%
NYSE:REXR.PRB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14.4%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:REXR.PRB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:REXR.PRB Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 338 1
2020-12-31 291 15 2
2019-12-31 256 19 2
NYSE:REXR.PRB Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 224 114 32
2018-12-31 212 103 36
2018-09-30 201 99 36
2018-06-30 190 90 30
2018-03-31 175 83 42
2017-12-31 161 77 34
2017-09-30 148 71 30
2017-06-30 140 63 31
2017-03-31 134 61 26
2016-12-31 126 56 23
2016-09-30 119 53 17
2016-06-30 108 47 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Rexford Industrial Realty's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Rexford Industrial Realty's revenue is expected to grow by 14.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:REXR.PRB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Rexford Industrial Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:REXR.PRB Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.54 0.54 0.54 1.00
2020-12-31 0.17 0.44 -0.09 2.00
2019-12-31 0.26 0.32 0.19 2.00
NYSE:REXR.PRB Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.35
2018-12-31 0.42
2018-09-30 0.43
2018-06-30 0.38
2018-03-31 0.57
2017-12-31 0.48
2017-09-30 0.43
2017-06-30 0.47
2017-03-31 0.39
2016-12-31 0.36
2016-09-30 0.28
2016-06-30 0.26

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Rexford Industrial Realty will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Rexford Industrial Realty's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Rexford Industrial Realty has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

REXR.PRB Past Performance

  How has Rexford Industrial Realty performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Rexford Industrial Realty's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Rexford Industrial Realty has delivered over 20% year on year earnings growth in the past 5 years.
  • Rexford Industrial Realty's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Rexford Industrial Realty's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Rexford Industrial Realty's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Rexford Industrial Realty Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:REXR.PRB Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 224.32 31.87 26.38
2018-12-31 212.49 36.14 25.19
2018-09-30 201.36 35.54 24.46
2018-06-30 189.50 29.82 24.07
2018-03-31 174.54 42.50 22.69
2017-12-31 161.36 34.43 21.61
2017-09-30 148.36 29.54 20.68
2017-06-30 139.66 31.22 19.90
2017-03-31 133.53 25.67 19.30
2016-12-31 125.74 22.84 18.42
2016-09-30 119.07 16.86 17.74
2016-06-30 108.15 15.13 16.45
2016-03-31 100.22 2.97 15.67
2015-12-31 93.99 1.65 15.02
2015-09-30 85.63 0.81 14.55
2015-06-30 79.95 -0.35 14.05
2015-03-31 72.16 -0.44 13.09
2014-12-31 66.55 -1.35 12.14
2014-09-30 60.17 -2.54 11.09
2014-06-30 53.93 -1.80 12.20
2014-03-31 48.99 -4.45 10.81
2013-12-31 44.34 -4.86 9.75
2013-09-30 39.50 -4.80 8.18
2013-06-30 36.04 -6.58 5.52
2013-03-31 35.05 -6.67 5.32
2012-12-31 33.12 -4.25 5.15

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Rexford Industrial Realty has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Rexford Industrial Realty used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Rexford Industrial Realty has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Rexford Industrial Realty's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Rexford Industrial Realty has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

REXR.PRB Health

 How is Rexford Industrial Realty's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Rexford Industrial Realty's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Rexford Industrial Realty is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Rexford Industrial Realty's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Rexford Industrial Realty's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Rexford Industrial Realty Company Filings, last reported 1 month ago.

NYSE:REXR.PRB Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,137.84 762.13 282.47
2018-12-31 1,908.42 759.72 189.37
2018-09-30 1,785.39 757.22 197.76
2018-06-30 1,739.83 757.06 175.74
2018-03-31 1,428.32 659.42 26.92
2017-12-31 1,365.25 669.16 13.81
2017-09-30 1,261.20 664.99 17.67
2017-06-30 1,084.98 562.62 17.52
2017-03-31 962.14 511.05 17.33
2016-12-31 962.14 502.23 21.12
2016-09-30 945.56 506.37 55.26
2016-06-30 862.78 508.16 29.18
2016-03-31 686.50 448.96 6.45
2015-12-31 693.74 421.30 5.20
2015-09-30 698.92 339.77 5.08
2015-06-30 707.52 299.29 9.99
2015-03-31 713.86 272.82 47.54
2014-12-31 545.88 357.76 8.61
2014-09-30 552.43 270.04 60.94
2014-06-30 336.20 370.33 9.27
2014-03-31 340.00 212.92 6.64
2013-12-31 341.77 192.49 9.00
2013-09-30 355.60 122.86 4.40
2013-06-30 93.40 351.19 24.95
2013-03-31 94.91 313.12 47.45
2012-12-31 96.25 296.69 43.50
  • Rexford Industrial Realty's level of debt (35.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (63.1% vs 35.6% today).
  • Debt is not well covered by operating cash flow (14.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Rexford Industrial Realty's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Rexford Industrial Realty has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

REXR.PRB Dividends

 What is Rexford Industrial Realty's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.94%
Current annual income from Rexford Industrial Realty dividends. Estimated to be 2.23% next year.
If you bought $2,000 of Rexford Industrial Realty shares you are expected to receive $39 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Rexford Industrial Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Rexford Industrial Realty's dividend is below the markets top 25% of dividend payers in United States of America (3.69%).
Upcoming dividend payment

Purchase Rexford Industrial Realty before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:REXR.PRB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:REXR.PRB Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.34 1.00
2022-12-31 1.18 1.00
2021-12-31 0.90 3.00
2020-12-31 0.80 7.00
2019-12-31 0.74 5.00
NYSE:REXR.PRB Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-06 0.740 1.953
2019-04-30 0.740 1.938
2019-02-19 0.740 2.076
2019-02-12 0.740 2.114
2018-11-01 0.640 2.005
2018-10-30 0.640 2.004
2018-08-06 0.640 2.028
2018-07-31 0.640 2.048
2018-02-13 0.640 2.146
2017-10-31 0.580 1.962
2017-08-02 0.580 1.980
2017-08-01 0.580 2.005
2017-02-16 0.580 2.306
2016-11-07 0.540 2.386
2016-11-02 0.540 2.608
2016-05-04 0.540 2.527
2016-02-25 0.540 2.998
2016-02-18 0.540 3.146
2015-08-04 0.540 3.609
2015-05-11 0.480 3.259
2015-05-06 0.480 3.279
2014-12-11 0.480 3.026
2014-08-07 0.480 3.287
2014-06-09 0.480 3.397
2014-03-13 0.480 3.379
2013-12-09 0.480 3.557
2013-11-13 0.360 2.613

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Rexford Industrial Realty has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Rexford Industrial Realty only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Rexford Industrial Realty's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (155.5x coverage).
X
Income/ dividend checks
We assess Rexford Industrial Realty's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Rexford Industrial Realty afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Rexford Industrial Realty has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

REXR.PRB Management

 What is the CEO of Rexford Industrial Realty's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Howard Schwimmer
COMPENSATION $4,658,429
AGE 57
TENURE AS CEO 6.3 years
CEO Bio

Mr. Howard Schwimmer has been a Co-Chief Executive Officer of Rexford Industrial Realty, Inc. since January 18, 2013. Mr. Schwimmer has been a Co-Chief Executive Officer at Rexford Industrial Realty, L.P. since July 2013. He was a Co-Founder and Senior Managing Partner of Rexford Industrial Realty, Inc. and President of Rexford Industrial Realty & Management Inc. since December 2001. From May 1983 to November 2001, Mr. Schwimmer was a licensed California Real Estate Broker, served at various times as Manager, Executive Vice President and Broker of record for DAUM Commercial Real Estate, one of California’s oldest industrial brokerage companies. His thirty-year professional career has been dedicated entirely and exclusively to Southern California infill industrial real estate, including its acquisition, value-add improvement, management, sales, leasing and disposition. He has experience forming real estate investment companies, managing real estate brokerage offices, serving as a real estate brokerage company board member and acquiring, repositioning, developing, leasing, selling and adding value to over thirty million square feet of industrial properties in Southern California. He has been a Director at Rexford Industrial Realty, L.P. since July 2013 and Rexford Industrial Realty, Inc. since January 18, 2013. He serves on the USC Lusk Center Real Estate Leadership Council, is Board Chair of USC Hillel and is the Allocation Committee Chair of the Los Angeles Jewish Federation, Real Estate Principals Organization. Mr. Schwimmer received his Bachelor’s degree from the University of Southern California in 1983, where he majored in Business with an emphasis in Real Estate Finance and Development.

CEO Compensation
  • Howard's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Howard's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Rexford Industrial Realty management team in years:

6.3
Average Tenure
50
Average Age
  • The average tenure for the Rexford Industrial Realty management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Howard Schwimmer

TITLE
Co-CEO & Director
COMPENSATION
$5M
AGE
57
TENURE
6.3 yrs

Michael Frankel

TITLE
Co-CEO & Director
COMPENSATION
$5M
AGE
55
TENURE
6.3 yrs

Adeel Khan

TITLE
Chief Financial officer
COMPENSATION
$2M
AGE
44
TENURE
5.8 yrs

David Lanzer

TITLE
General Counsel & Secretary
COMPENSATION
$1M
AGE
45
TENURE
3.2 yrs

Stephen Swett

TITLE
Investor Relations
TENURE
6.3 yrs

Trina Schnapp

TITLE
Senior Vice President of Human Resources
TENURE
0.3 yrs

Patrick Schlehuber

TITLE
Executive Vice President of Investments

Bruce Herbkersman

TITLE
Senior VP

Víctor Ramírez

TITLE
Controller

Cher Riban

TITLE
Assistant Controller
TENURE
7.6 yrs
Board of Directors Tenure

Average tenure and age of the Rexford Industrial Realty board of directors in years:

5.8
Average Tenure
64
Average Age
  • The tenure for the Rexford Industrial Realty board of directors is about average.
Board of Directors

Richard Ziman

TITLE
Chairman of the Board
COMPENSATION
$320K
AGE
75
TENURE
6.3 yrs

Howard Schwimmer

TITLE
Co-CEO & Director
COMPENSATION
$5M
AGE
57
TENURE
6.3 yrs

Michael Frankel

TITLE
Co-CEO & Director
COMPENSATION
$5M
AGE
55
TENURE
6.3 yrs

Bob Antin

TITLE
Director
COMPENSATION
$151K
AGE
68
TENURE
5.8 yrs

Steve Good

TITLE
Director
COMPENSATION
$158K
AGE
76
TENURE
5.8 yrs

Tyler Rose

TITLE
Director
COMPENSATION
$152K
AGE
57
TENURE
4.3 yrs

Pete Schwab

TITLE
Director
COMPENSATION
$146K
AGE
75
TENURE
5.3 yrs

Diana Ingram

TITLE
Director
COMPENSATION
$121K
AGE
60
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
19. Nov 18 Buy Adeel Khan Individual 16. Nov 18 16. Nov 18 2,250 $22.43 $50,466
X
Management checks
We assess Rexford Industrial Realty's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Rexford Industrial Realty has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

REXR.PRB News

Simply Wall St News

REXR.PRB Company Info

Description

Rexford Industrial is a real estate investment trust focused on owning and operating industrial properties in Southern California infill markets. The Company owns 192 properties with approximately 23.6 million rentable square feet and manages an additional 19 properties with approximately 1.0 million rentable square feet.

Details
Name: Rexford Industrial Realty, Inc.
REXR.PRB
Exchange: NYSE
Founded: 2013
$4,072,180,926
$3,977,987,049
106,490,087
Website: http://www.rexfordindustrial.com
Address: Rexford Industrial Realty, Inc.
11620 Wilshire Boulevard,
Suite 1000,
Los Angeles,
California, 90025,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE REXR Common Stock New York Stock Exchange US USD 19. Jul 2013
NYSE REXR.PRA RED PFD SER A New York Stock Exchange US USD 09. Aug 2016
NYSE REXR.PRB 5.875% PFD SER B New York Stock Exchange US USD 07. Nov 2017
Number of employees
Current staff
Staff numbers
108
Rexford Industrial Realty employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 03:27
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/06
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.