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Rexford Industrial Realty Inc
🇺🇸 REXR · NYSE/NASDAQ · US76169C1009
Real Estate
Price at analysis: USD 38.41 Current price: USD 38.07 * updated every night
Scores
Key Metrics
Powered by EODHDP/E (TTM)
N/A
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Why N/A?
EPS data not available.
Net Debt/EBITDA (TTM)
1593.8x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
ROE
-4.7%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
1836.6x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
4.45% TTM
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Trailing Yield (TTM, last 12 months): 4.45%
Payout Ratio (Fwd)
118.0% TTM
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Quarterly | — | 30 Jun 2027 | — | USD | 0.435 |
| Forecast* | Quarterly | — | 31 Mar 2027 | — | USD | 0.435 |
| Forecast* | Quarterly | — | 31 Dec 2026 | — | USD | 0.43 |
| Declared | Quarterly | 20 Jul 2026 | 30 Sep 2026 | 15 Oct 2026 | USD | 0.435 |
| Paid | Quarterly | 21 Apr 2026 | 30 Jun 2026 | 15 Jul 2026 | USD | 0.435 |
| Paid | Quarterly | 02 Feb 2026 | 31 Mar 2026 | 15 Apr 2026 | USD | 0.435 |
| Paid | Quarterly | 13 Oct 2025 | 31 Dec 2025 | 15 Jan 2026 | USD | 0.43 |
| Paid | Quarterly | 14 Jul 2025 | 30 Sep 2025 | 15 Oct 2025 | USD | 0.43 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
Summary
Rexford Industrial Realty commands an irreplaceable logistics portfolio protected by severe local zoning and environmental regulations, creating a massive structural moat against new supply. Headline GAAP losses driven by one-time, non-cash impairments mask a highly attractive P/AFFO valuation of 10.58x and a well-covered 4.53% forward dividend yield. Worth considering for new positions as a top-tier dividend growth opportunity.
Sector Context
Rexford Industrial Realty operates exclusively in the Southern California infill industrial real estate market. For DGI investors, industrial REITs provide essential logistics infrastructure, offering robust, inflation-protected cash flows; evaluation requires focusing on AFFO and FFO rather than traditional GAAP earnings due to heavy depreciation and non-cash real estate metrics.
Temporary Opportunity Identified
Headline GAAP net losses are entirely driven by one-time, non-cash property impairment charges (e.g., $624.8 million in Q2 2026) and executive transition expenses, which obscure underlying FFO growth.
📊 Strategy Analysis
- • AFFO payout ratio of 51.66% strongly secures the 4.53% forward dividend yield, allowing ample room to continue its 8-year streak of dividend increases (14.6% historical CAGR).
- • Supply-side protectionism from California's stringent environmental regulations (AB 98 and CEQA) artificially restricts new warehouse builds, reinforcing Rexford's structural moat and pricing power.
- • Underlying operational strength persists despite headline GAAP net losses, with Core FFO growing 5.9% year-over-year while P/AFFO sits at a highly attractive 10.58x.
- • Shareholder returns are supercharged by a massive 6.63% net buyback yield alongside cash dividends, pushing Total Shareholder Yield to 11.08%.
⚠ What to Watch
- • 100% geographic concentration in Southern California exposes the portfolio to localized economic shocks, Measure ULA transfer taxes, and stringent state regulations.
- • Sensitivity to 'higher for longer' central bank interest rate policies (with 10-year US Treasury yields recently surpassing 5%), which can increase funding costs and suppress REIT valuations.
- • Broader cyclical cooling in the industrial real estate sector, including slowing rent growth and negative net absorption, could moderate near-term performance.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-09-19
Disclaimer: This information is for educational purposes only. Not financial advice.