Rexford Industrial Realty Inc. Common Stock (REXR)

FairStock Score: 34/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable assets, honest numbers, and a price that leaves room for error. Rexford owns infill Southern California industrial property, a niche with real advantages: scarce land, high demand, and repositioning upside. That is a genuine moat, but the current figures are ugly. In fiscal Q2 2026, the quarter ended 2026-06-30, the company reported a net loss of $504.1M and diluted EPS of -$2.26. That follows fiscal Q1 2026 net income of $91.2M and EPS of $0.38. For fiscal years ended 2025, 2024, and 2023, net income was $212.0M, $273.8M, and $238.0M, with diluted EPS of $0.86, $1.20, and $1.12. Filed revenue also declined from $682,000 in FY2023 to $611,000 in FY2024 to $589,000 in FY2025. For a REIT, depreciation distorts EPS and P/E, so I would not use Graham Number or margin of safety here. FFO/AFFO, the right measures, are not in the data. I lean on dividend yield, leverage, revenue trend, and price-to-book. At the 2026-10-13 close of $37.84, FairStock shows P/B of 1.14 and dividend yield of 4.53%. Leverage is moderate with D/E 0.41. But FairStock's negative P/E -21.26, ROE -4.73%, ROCE 1.98%, FCF yield 2.7%, Piotroski 5/9, Altman Z 1.25, and EV/EBITDA 1,778.87 all signal stress. FairStock score is 34/100, and its Lynch category is STALWART based on five-year profit growth of 22.6% and revenue growth of 7.0%—but the latest quarter challenges that label. This is an asset-rich REIT with a real geographic edge, yet the earnings and cash-flow picture make the cheap-looking book value uncertain.

In plain English: Rexford owns industrial buildings in Southern California, mostly in places where land is scarce. The business has a good location advantage, but recent results show a large loss and weaker revenue and profit. At $37.84, the stock looks inexpensive compared with the value of its properties on the books, but the losses make it hard to call clearly cheap or safe.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer