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Rexford Industrial Realty

Market Cap

US$7.5b

Last Updated

2021/05/06 22:35 UTC

Data Sources

Company Financials +

Executive Summary

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million rentable square feet and manages an additional 20 properties with approximately 1.0 million rentable square feet. More Details


Snowflake Analysis

Proven track record with adequate balance sheet.


Similar Companies

Share Price & News

How has Rexford Industrial Realty's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: REXR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: REXR's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

-1.3%

REXR

-1.6%

US REITs

-1.7%

US Market


1 Year Return

35.4%

REXR

32.1%

US REITs

51.8%

US Market

Return vs Industry: REXR exceeded the US REITs industry which returned 33.5% over the past year.

Return vs Market: REXR underperformed the US Market which returned 52.8% over the past year.


Shareholder returns

REXRIndustryMarket
7 Day-1.3%-1.6%-1.7%
30 Day3.5%3.0%1.5%
90 Day9.2%10.4%3.1%
1 Year38.0%35.4%37.6%32.1%54.4%51.8%
3 Year78.1%68.0%40.4%23.4%63.0%52.8%
5 Year208.4%177.9%49.3%19.3%127.2%101.9%

Long-Term Price Volatility Vs. Market

How volatile is Rexford Industrial Realty's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Rexford Industrial Realty undervalued compared to its fair value and its price relative to the market?

13.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: REXR ($54.58) is trading below our estimate of fair value ($63.02)

Significantly Below Fair Value: REXR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: REXR is poor value based on its PE Ratio (90.6x) compared to the US REITs industry average (45.9x).

PE vs Market: REXR is poor value based on its PE Ratio (90.6x) compared to the US market (20.4x).


Price to Earnings Growth Ratio

PEG Ratio: REXR is poor value based on its PEG Ratio (4.8x)


Price to Book Ratio

PB vs Industry: REXR is overvalued based on its PB Ratio (2.3x) compared to the US REITs industry average (1.8x).


Future Growth

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

19.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: REXR's forecast earnings growth (19% per year) is above the savings rate (2%).

Earnings vs Market: REXR's earnings (19% per year) are forecast to grow faster than the US market (15.7% per year).

High Growth Earnings: REXR's earnings are forecast to grow, but not significantly.

Revenue vs Market: REXR's revenue (13.2% per year) is forecast to grow faster than the US market (9.2% per year).

High Growth Revenue: REXR's revenue (13.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if REXR's Return on Equity is forecast to be high in 3 years time


Past Performance

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

28.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: REXR has a large one-off gain of $24.4M impacting its March 31 2021 financial results.

Growing Profit Margin: REXR's current net profit margins (21.4%) are higher than last year (18.7%).


Past Earnings Growth Analysis

Earnings Trend: REXR's earnings have grown significantly by 28.3% per year over the past 5 years.

Accelerating Growth: REXR's earnings growth over the past year (41.6%) exceeds its 5-year average (28.3% per year).

Earnings vs Industry: REXR earnings growth over the past year (41.6%) exceeded the REITs industry -8.5%.


Return on Equity

High ROE: REXR's Return on Equity (2.6%) is considered low.


Financial Health

How is Rexford Industrial Realty's financial position?


Financial Position Analysis

Short Term Liabilities: REXR's short term assets ($186.9M) exceed its short term liabilities ($70.7M).

Long Term Liabilities: REXR's short term assets ($186.9M) do not cover its long term liabilities ($1.4B).


Debt to Equity History and Analysis

Debt Level: REXR's debt to equity ratio (33.8%) is considered satisfactory.

Reducing Debt: REXR's debt to equity ratio has reduced from 65.3% to 33.8% over the past 5 years.

Debt Coverage: REXR's debt is not well covered by operating cash flow (14%).

Interest Coverage: REXR's interest payments on its debt are well covered by EBIT (3.2x coverage).


Balance Sheet


Dividend

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

1.76%

Current Dividend Yield


Upcoming Dividend Payment

TodayMay 07 2021Ex Dividend DateJun 29 2021Dividend Pay DateJul 15 202116 days from Ex DividendBuy in the next 52 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: REXR's dividend (1.76%) is higher than the bottom 25% of dividend payers in the US market (1.24%).

High Dividend: REXR's dividend (1.76%) is low compared to the top 25% of dividend payers in the US market (3.42%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, REXR has been paying a dividend for less than 10 years.

Growing Dividend: REXR's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (64.4%), REXR's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: REXR's dividends in 3 years are forecast to be covered by earnings (60% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.3yrs

Average management tenure


CEO

Howard Schwimmer (59 yo)

8.33yrs

Tenure

US$6,012,151

Compensation

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. ...


CEO Compensation Analysis

Compensation vs Market: Howard's total compensation ($USD6.01M) is about average for companies of similar size in the US market ($USD6.47M).

Compensation vs Earnings: Howard's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: REXR's management team is seasoned and experienced (8.3 years average tenure).


Board Members

Experienced Board: REXR's board of directors are considered experienced (7.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: REXR insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 17%.


Top Shareholders

Company Information

Rexford Industrial Realty, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Rexford Industrial Realty, Inc.
  • Ticker: REXR
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Implied Market Cap: US$7.547b
  • Market Cap: US$7.190b
  • Shares outstanding: 140.45m
  • Website: https://www.rexfordindustrial.com

Number of Employees


Location

  • Rexford Industrial Realty, Inc.
  • 11620 Wilshire Boulevard
  • 10th Floor
  • Los Angeles
  • California
  • 90025
  • United States

Listings


Biography

Rexford Industrial, a real estate investment trust focused on owning and operating industrial properties throughout Southern California infill markets, owns 232 properties with approximately 27.9 million r...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/06 22:35
End of Day Share Price2021/05/06 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


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.