Rexford Industrial Realty
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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 63 days ago. More info.
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REXR Share Price and Events
7 Day Returns
1 Year Returns
REXR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Rexford Industrial Realty (REXR) | -0.7% | 1.9% | 10.4% | 23.9% | 87.5% | 153.9% |
| US REITs | -2.7% | -0.8% | 7.2% | 15.1% | 10.1% | 25.7% |
| US Market | -0.8% | 2.7% | 7.5% | 7% | 37.9% | 47% |
1 Year Return vs Industry and Market
- REXR outperformed the REITs industry which returned 15.1% over the past year.
- REXR outperformed the Market in United States of America which returned 7% over the past year.
REXR Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Rexford Industrial Realty.
| 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.
| 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 | 0.55 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.547 (1 + (1- 21%) (19.65%)) |
0.753 |
| 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 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.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 7.5%) |
|
|---|---|---|---|
| 2019 | 97.97 | Analyst x3 | 91.14 |
| 2020 | 117.76 | Analyst x3 | 101.91 |
| 2021 | 148.80 | Analyst x1 | 119.78 |
| 2022 | 171.14 | Est @ 15.01% | 128.16 |
| 2023 | 190.52 | Est @ 11.33% | 132.72 |
| 2024 | 207.18 | Est @ 8.75% | 134.26 |
| 2025 | 221.57 | Est @ 6.94% | 133.57 |
| 2026 | 234.15 | Est @ 5.68% | 131.31 |
| 2027 | 245.37 | Est @ 4.79% | 128.00 |
| 2028 | 255.62 | Est @ 4.17% | 124.05 |
| Present value of next 10 years cash flows | $1,224.89 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $255.62 × (1 + 2.73%) ÷ (7.5% – 2.73%) |
$5,507.47 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $5,507.47 ÷ (1 + 7.5%)10 |
$2,672.69 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,224.89 + $2,672.69 |
$3,897.58 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $3,897.58 / 106.49 |
$36.15 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $36.15 |
| Current discount | Discount to share price of
$35.85
= -1 x ($35.85 - $36.15) / $36.15 |
0.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Rexford Industrial Realty's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Rexford Industrial Realty's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $0.42 |
| NYSE:REXR Share Price ** | NYSE (2019-04-22) in USD | $35.85 |
| United States of America REITs Industry PE Ratio | Median Figure of 152 Publicly-Listed REITs Companies | 31.08x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 18.21x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Rexford Industrial Realty.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:REXR Share Price ÷ EPS (both in USD) = 35.85 ÷ 0.42 |
86.13x |
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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 86.13x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
-41.7%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 139 Publicly-Listed REITs Companies | -0.1x |
| United States of America Market PEG Ratio | Median Figure of 2,109 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 86.13x ÷ -41.7% |
-2.06x |
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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $17.77 |
| NYSE:REXR Share Price * | NYSE (2019-04-22) in USD | $35.85 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.84x |
| United States of America Market PB Ratio | Median Figure of 5,186 Publicly-Listed Companies | 1.91x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:REXR Share Price ÷ Book Value per Share (both in USD) = 35.85 ÷ 17.77 |
2.02x |
* 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.
Value checks
We assess Rexford Industrial Realty's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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 Future Performance
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!
Earnings growth vs Low Risk Savings
- 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
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:REXR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | -41.7% |
| NYSE:REXR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 13.1% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 1.9% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.5% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 329 | 1 | ||
| 2020-12-31 | 267 | 17 | 2 | |
| 2019-12-31 | 249 | 17 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 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 |
| 2016-03-31 | 100 | 45 | 3 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months 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 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 0.50 | 0.50 | 0.50 | 1.00 |
| 2020-12-31 | ||||
| 2019-12-31 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 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 |
| 2016-03-31 | 0.05 |
*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.
- Rexford Industrial Realty is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Rexford Industrial Realty's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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 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
Past Earnings growth analysis
- 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 less than its 5-year average (5% vs 62.7%)
- Rexford Industrial Realty's earnings growth has not exceeded the US REITs industry average in the past year (5% vs 22%).
Earnings and Revenue History
All data from Rexford Industrial Realty Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 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).
Past performance checks
We assess Rexford Industrial Realty's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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 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.
- 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
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.3x 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.
All data from Rexford Industrial Realty Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 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 (39.8%) 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 (56.4% vs 39.8% today).
- Debt is not well covered by operating cash flow (13.5%, less than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Rexford Industrial Realty's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Rexford Industrial Realty has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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 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
If you bought
$2,000 of
Rexford Industrial Realty
shares you are expected to receive
$41
in your first year as a dividend.
Dividend Amount
- Rexford Industrial Realty's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.39%).
- Rexford Industrial Realty's dividend is below the markets top 25% of dividend payers in United States of America (3.62%).
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.
| 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 2008 Stocks | 2.4% |
| 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 | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 1.25 | 1.00 |
| 2022-12-31 | 1.10 | 1.00 |
| 2021-12-31 | 0.88 | 2.00 |
| 2020-12-31 | 0.80 | 7.00 |
| 2019-12-31 | 0.74 | 6.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-19 | 0.740 | 2.088 |
| 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 5 years.
Income/ dividend checks
We assess Rexford Industrial Realty's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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 Management
CEO
| COMPENSATION | $3,753,303 |
| 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% 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:
- 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
Co-CEO & Director
$4M
57
6.3 yrs
Michael Frankel
Co-CEO & Director
$4M
55
6.3 yrs
Adeel Khan
Chief Financial officer
$2M
44
5.8 yrs
David Lanzer
General Counsel & Secretary
$1M
45
3.1 yrs
Stephen Swett
Investor Relations
6.3 yrs
Patrick Schlehuber
Executive Vice President of Investments
Bruce Herbkersman
Senior VP
Víctor Ramírez
Controller
Cher Riban
Assistant Controller
7.5 yrs
Board of Directors Tenure
Average tenure and age of the Rexford Industrial Realty board of directors in years:
- The tenure for the Rexford Industrial Realty board of directors is about average.
Board of Directors
Richard Ziman
Chairman of the Board
$320K
75
6.3 yrs
Howard Schwimmer
Co-CEO & Director
$4M
57
6.3 yrs
Michael Frankel
Co-CEO & Director
$4M
55
6.3 yrs
Bob Antin
Director
$151K
68
5.8 yrs
Steve Good
Director
$164K
76
5.8 yrs
Tyler Rose
Director
$150K
57
4.2 yrs
Pete Schwab
Director
$144K
75
5.2 yrs
Diana Ingram
Director
60
1 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 06. Mar 19 | Buy | Diana Ingram | Individual | 31. Oct 18 | 31. Oct 18 | 125 | $31.87 | $3,984 | ||
| 06. Aug 18 | Sell | Richard Ziman | Individual | 03. Aug 18 | 03. Aug 18 | -102,043 | $31.32 | $-3,195,987 | ||
| 14. May 18 | Sell | Adeel Khan | Individual | 10. May 18 | 11. May 18 | -17,599 | $32.48 | $-569,495 | ||
Management checks
We assess Rexford Industrial Realty's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 News
Simply Wall St News
How Rexford Industrial Realty, Inc. (NYSE:REXR) Can Impact Your Portfolio Volatility
(NYSE:REXR), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … The first thing to understand about beta is that the beta of the overall market is one.
Simply Wall St - – Full articleCan Rexford Industrial Realty, Inc. (NYSE:REXR) Improve Its Returns?
By way of learning-by-doing, we'll look at ROE to gain a better understanding of Rexford Industrial Realty, Inc. … Our data shows Rexford Industrial Realty has a return on equity of 2.5% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleShould You Think About Buying Rexford Industrial Realty, Inc. (NYSE:REXR) Now?
Rexford Industrial Realty, Inc. … As a well-established company, which tends to be well-covered by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … Let’s examine Rexford Industrial Realty’s valuation and outlook in more detail to determine if there’s still a bargain opportunity
Simply Wall St - – Full articleShould You Be Worried About Insider Transactions At Rexford Industrial Realty, Inc. (NYSE:REXR)?
So we'll take a look at whether insiders have been buying or selling shares in Rexford Industrial Realty, Inc. … The Last 12 Months Of Insider Transactions At Rexford Industrial Realty. … That means that even when the share price was below the current price of US$35.15, an insider wanted to cash in some shares.
Simply Wall St - – Full articleWhy You Shouldn't Look At Rexford Industrial Realty, Inc.'s (NYSE:REXR) Bottom Line
real estate investment trust (REIT) based in Los Angeles, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.
Simply Wall St - – Full articleIs Rexford Industrial Realty, Inc.'s (NYSE:REXR) CEO Pay Fair?
First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Howard Schwimmer's Compensation Compare With Similar Sized Companies. … While this analysis focuses on total compensation, it's worth noting the salary is lower, valued at US$550k
Simply Wall St - – Full articleIs Rexford Industrial Realty Inc's (NYSE:REXR) 2.6% Worse Than Average?
By way of learning-by-doing, we'll look at ROE to gain a better understanding Rexford Industrial Realty Inc (NYSE:REXR). … Our data shows Rexford Industrial Realty has a return on equity of 2.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleHow To Look At Rexford Industrial Realty Inc (NYSE:REXR)
Rexford Industrial Realty Inc is a US$2.9b. … real estate investment trust (REIT) based in Los Angeles, United States. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way.
Simply Wall St - – Full articleIs Rexford Industrial Realty Inc's (NYSE:REXR) CEO Incentives Align With Yours?
Understanding how CEOs are incentivised to run and grow their company is an important aspect of investing in a stock. … This is because, if incentives are aligned, more value is created for shareholders which directly impacts your returns as an investor. … CEOs leading companies of similar size and profitability
Simply Wall St - – Full articleInvesting In Property Through Rexford Industrial Realty Inc (NYSE:REXR)
Rexford Industrial Realty Inc is a US$2.59b. … real estate investment trust (REIT) based in Los Angeles, United States. … See our latest analysis for Rexford Industrial Realty
Simply Wall St - – Full articleREXR 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 179 properties with approximately 22.1 million rentable square feet and manages an additional 20 properties with approximately 1.2 million rentable square feet.
Details
| Name: | Rexford Industrial Realty, Inc. |
| REXR | |
| Exchange: | NYSE |
| Founded: | 2013 |
| $3,865,608,562 | |
| $3,729,381,035 | |
| 106,490,594 | |
| 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.PRB | 5.875% PFD SER B | New York Stock Exchange | US | USD | 07. Nov 2017 | |
| NYSE | REXR.PRA | RED PFD SER A | New York Stock Exchange | US | USD | 09. Aug 2016 |
Number of employees
Current staff
Industry
| Industrial REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/23 00:48 |
| End of day share price update: | 2019/04/22 00:00 |
| Last estimates confirmation: | 2019/04/12 |
| Last earnings filing: | 2019/02/19 |
| Last earnings reported: | 2018/12/31 |
| 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.
