Rexford Industrial Realty Inc (REXR) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Rexford Industrial Realty Inc stock $24.98, price $37.80, that is 33.9% below the price, quality 51 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $30.13 – $72.86 · fair‑value band $6.20 – $44.34 · the $37.80 price screens above the $24.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Rexford Industrial Realty, Inc. creates value by investing in, operating and repositioning industrial properties throughout infill Southern California, the world's fourth largest industrial market and consistently the highest-demand with lowest-supply major market in the nation over the long term.
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The Company's highly differentiated strategy enables internal and external growth opportunities through its proprietary value creation and asset management capabilities.
Rexford Industrial's high-quality, irreplaceable portfolio comprised 419 properties with approximately 51.2 million rentable square feet occupied by a stable and diverse tenant base. Structured as a real estate investment trust (REIT) listed on the New York Stock Exchange.
Rexford Industrial is an S&P MidCap 400 Index member. Rexford Industrial Realty, Inc. was incorporated on January 18th, 2013 and is based in Los Angeles, United States.
Stock analysis
Rexford Industrial Realty Inc (REXR) currently trades at $37.80, while our model-based Fair Value estimate is $24.98, 34% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Dividend Discount group reads highest at a median of $28.03 per share, and 4 of the 16 models we run sit above the $37.80 price.
Bear case: the Growth DCF group reads lowest at $20.21, and 12 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $6.20 (bear) to $44.34 (bull), the price of $37.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Real Estate sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Rexford Industrial Realty Inc reported revenue of $1.0B in FY2025 versus $452M in FY2021, a compound +22.0%/yr. Reported net income was $212M in FY2025, compounding +13.4%/yr from FY2021.
Key figures
Market cap $8.5B Mid · P/S ratio 8.68 · EPS (TTM) $−2.10 · Dividend yield 4.6% · Net margin −47.2% · Return on equity −5.8% · Return on assets (EBIT) 4.4% (5-year average) · Operating margin 38.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 44 out of 100 (medium confidence).
What moves the price
The share trades about 8% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −31% fair-value upside, at −34%, REXR screens richer than that median.
Fair Value models
Bear$6.20Fair Value $24.98Bull$44.34
Price $37.80 · Downside -33.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleDavid E. LanzerGeneral Counsel & Secretary33,299 shares at $35.47$1.2MApr 28, 2026
SaleMichael S. FrankelCo-CEO, Co-President, Director3× since Dec 2, 2025: 80,250 shares, avg. $39.40$3.2MMar 17, 2026
BuyDavid P StockertDirector5,000 shares at $37.39$186,950Feb 27, 2026
BuyMichael FitzmauriceChief Financial Officer2,650 shares at $37.55$99,508Feb 27, 2026
BuyLaura E ClarkChief Operating Officer5,310 shares at $37.73$200,346Feb 27, 2026
Plus 7 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+7.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.9%
Start year 2020 (pandemic). Over 10 years: +26.7% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+29.2%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+11.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+7.2%
Dividend (yield on the price)4.6%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.7.7% vs 38.7%, slowing
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.65% → 38%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+31.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−5.1%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +28.5% a year for the price and −7.4% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (92 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Limited durable moat beyond location factors remains the main weak point, while the exit from short-term high-rent assets sharpens focus on core value creation.
Main risk: Heavy reliance on Southern California infill industrial properties could expose the company to regional economic downturns, port disruptions or business out-migration that reduce tenant demand and pressure rental rates.
Bull case: By concentrating on irreplaceable infill assets amid persistent supply constraints from regulation and land scarcity, the company could maintain strong occupancy and achieve stable rental income even in a softer regional market.
Bear case: If Southern California demand weakens further due to economic shifts, port issues or stricter rules, the company could face sustained lower occupancy, negative rent spreads and reduced cash flow from its remaining portfolio.
Rexford is exiting a portfolio of assets with short lease terms and rents well above current market levels, a step that should sharpen focus on its core value-creation activities while freeing capital for debt repayment and repurchases. This realignment highlights the pressure from expected rent roll-downs and potential tenant moves in Southern California industrial properties. Our models see it as overvalued. Will the remaining holdings generate more durable growth than the assets sold, or will the same market dynamics constrain results?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Industrial · 51 stocks
Beats the industry median on 2/13 measures
Overall it trails its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−33.9% · Below median
Profitability
Return on assets1.7% · Bottom 25%
Net margin (12 months)−47.2% · Bottom 25%
Operating margin (12 months)38.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−5.6% · Bottom 25%
Dividend yield (12 months)4.6% · Below median
Balance sheet
Debt / equity0.38× · Below median
Valuation Multiplesvs REIT - Industrial median · lower = cheaper
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Is Rexford Industrial Realty Inc (REXR) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $24.98 versus a price of $37.80, about 34% lower (overvalued).
What is the fair value of REXR?
Our model-based fair value for Rexford Industrial Realty Inc is $24.98 (as of Nov 7, 2026), built from audited fundamentals. The current price: $37.80.
What is the quality score of REXR?
Rexford Industrial Realty Inc has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Rexford Industrial Realty Inc (REXR)?
Our model-based price target is the fair value of $24.98 (as of Nov 7, 2026) from 16 valuation models. Cautious scenario $6.20, optimistic scenario $44.34. It is a calculation from audited fundamentals, not an analyst target.
What is the Rexford Industrial Realty Inc stock forecast for 2026?
Our models put fair value at $24.98, about 34% lower versus a price of $37.80 (overvalued). Cautious scenario $6.20, optimistic scenario $44.34. The calculation is refreshed regularly with new filings.
What is the revenue of Rexford Industrial Realty Inc (REXR)?
Rexford Industrial Realty Inc reported trailing-twelve-month revenue of about $978M (latest available figure, as of Nov 7, 2026).
Does Rexford Industrial Realty Inc pay a dividend?
Rexford Industrial Realty Inc currently shows a dividend yield of 4.59% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Rexford Industrial Realty Inc (REXR) and when is the ex-dividend date?
Rexford Industrial Realty Inc pays a dividend of $1.74 per share a year, a dividend yield of 4.6%. The next ex-dividend date is Dec 31, 2026, with payment on Jan 15, 2027. A dividend has been paid every year since at least 2013. The payout ratio is 182% of earnings. Free cash flow covers the dividend 0.54 times. Our assessment: Pays more than it earns. The company pays out more in dividends than it earns, and free cash flow clearly does not cover the dividend either. It may need to be cut unless profits recover.
What growth is priced into Rexford Industrial Realty Inc (REXR)?
For today's price to be fair in a discounted-cash-flow model, Rexford Industrial Realty Inc would have to grow free cash flow by +31.6 % per year for five years (discount rate 10.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.9 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of REXR use?
Our models discount Rexford Industrial Realty Inc at 10.2 %: a base by market capitalisation (mid), damped by beta 1.20, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Rexford Industrial Realty Inc that is +31.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.2 %) and the same formula as our fair value.
How much growth has Rexford Industrial Realty Inc (REXR) delivered so far?
Over the past 5 years revenue at Rexford Industrial Realty Inc grew +24.9 % a year. The price currently implies free-cash-flow growth of +31.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Rexford Industrial Realty Inc (REXR) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into Rexford Industrial Realty Inc (+31.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Rexford Industrial Realty Inc (REXR)?
The free-cash-flow yield on the price is 2.47 %: that much free cash flow Rexford Industrial Realty Inc produces per unit of market value. When it exceeds the discount rate of our models (10.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Rexford Industrial Realty Inc (REXR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rexford Industrial Realty Inc it is $24.98 per share (as of Nov 7, 2026), against a price of $37.80. It is the blended result of 16 valuation models in 6 families (DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is Rexford Industrial Realty Inc stock overvalued or undervalued in 2026?
As of Nov 7, 2026, REXR trades above its calculated fair value: price $37.80, fair value $24.98, a gap of about −34% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of REXR?
No. The price is what the market pays today ($37.80); the fair value is what the company's own numbers justify ($24.98). For Rexford Industrial Realty Inc the two are $12.82 per share apart. That gap is exactly why we show both numbers side by side.
How much is Rexford Industrial Realty Inc worth?
The market values Rexford Industrial Realty Inc at about $8.5B (market capitalisation, as of Nov 7, 2026). Per share that is $37.80; our models calculate a fair value of $24.98 per share.
What do the bullish and bearish scenarios say about REXR?
Our models span a range for Rexford Industrial Realty Inc: cautious scenario $6.20, base $24.98, optimistic $44.34 per share (as of Nov 7, 2026, price $37.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of REXR?
The PEG ratio of Rexford Industrial Realty Inc is 1.88 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Rexford Industrial Realty Inc (REXR)?
Balance-sheet figures for Rexford Industrial Realty Inc (as of Nov 7, 2026): return on equity −5.8%, debt of 0.38 per unit of equity. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is REXR from its 52-week high?
Rexford Industrial Realty Inc trades at $37.80, about 8% below its 52-week high of $41.21 and 18% above the low of $32.06 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $24.98 is for.
Which stocks are comparable to Rexford Industrial Realty Inc?
From the same area (Real Estate) we also value Prologis, Inc, Public Storage, Extra Space Storage Inc, EastGroup Properties, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Rexford Industrial Realty Inc stock attractive at the current price?
The data as of Nov 7, 2026: price $37.80, calculated fair value $24.98 (−34%), Quality Score 51/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of REXR calculated?
We run Rexford Industrial Realty Inc through 16 models from 6 families: DCF Models, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of $24.98 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Rexford Industrial Realty Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Rexford Industrial Realty Inc (REXR)?
The closing price on Nov 6, 2026 was $37.80. Our model-based fair value is $24.98, about 34% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rexford Industrial Realty Inc right now?
The model range is unusually wide ($6.20 to $44.34). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of Rexford Industrial Realty Inc
How large is the market capitalisation of Rexford Industrial Realty Inc (REXR)?
The market capitalisation of Rexford Industrial Realty Inc is $8.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Rexford Industrial Realty Inc (REXR)?
The price-to-sales ratio of Rexford Industrial Realty Inc is 8.68 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Rexford Industrial Realty Inc (REXR)?
Earnings per share at Rexford Industrial Realty Inc are $−2.10. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Rexford Industrial Realty Inc (REXR)?
The dividend yield of Rexford Industrial Realty Inc is 4.6%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Rexford Industrial Realty Inc (REXR)?
The net margin of Rexford Industrial Realty Inc is −47.2% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Rexford Industrial Realty Inc (REXR)?
The return on equity (ROE) of Rexford Industrial Realty Inc is −5.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Rexford Industrial Realty Inc (REXR)?
On an EBIT basis the return on assets of Rexford Industrial Realty Inc is 4.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Rexford Industrial Realty Inc (REXR)?
The operating margin of Rexford Industrial Realty Inc is 38.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rexford Industrial Realty Inc (REXR)?
Revenue at Rexford Industrial Realty Inc is growing −5.6% versus a year earlier (3y avg +16.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Rexford Industrial Realty Inc (REXR)?
Earnings per share at Rexford Industrial Realty Inc are growing −82.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Rexford Industrial Realty Inc (REXR) carry?
The net debt of Rexford Industrial Realty Inc is $3.3B (fiscal year 2025, ≈ 16.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 7, 2026