Rexford Industrial (REXR)
Owns and repositions infill Southern California warehouses leased to logistics, wholesale, and manufacturing tenants.
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Owns and operates warehouse, light-manufacturing, and outdoor-storage buildings across roughly 50M square feet in Southern California's infill submarkets. Thousands of logistics, wholesale, and manufacturing tenants lease that space, so no single company drives rental income.
Owns, operates, and acquires industrial buildings across roughly 50M square feet in Southern California's infill submarkets, leasing warehouse, light-manufacturing, and outdoor-storage space to thousands of logistics, wholesale, and manufacturing tenants, none dominant.
The portfolio sits entirely within Los Angeles, Orange, San Diego, and Ventura counties and the Inland Empire, submarkets constrained by scarce land and strict zoning. The company buys functionally obsolete buildings from private owners and repositions them — new clearance heights, loading doors, reconfigured yards — before re-leasing at market rents.
Founded in 2001 and listed on the NYSE in 2013, the company funded over a decade of acquisitions through equity and debt issuance, tying its cost of capital to REIT-market conditions.
A 2025 stake by activist investor Elliott Investment Management pushed a shift toward property sales and share buybacks, alongside a founder-to-successor chief-executive transition in 2026.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Raymond James | Upgrade | ||
| Sep 15, 2026 | Raymond James | Upgrade | ||
| Sep 1, 2026 | Wells Fargo | Reiterate | Rating: —Target: $66 | Target: $43 |
| Aug 31, 2026 | Scotiabank | Reiterate | Rating: —Target: $36 | Target: $40 |
| Aug 19, 2026 | Mizuho Securities | Target | Target: $35 | Target: $38 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $32.2M · Total debt $3.37B · Total assets $11.63B · Shareholders' equity $7.54B
- Revenue
- $245.5M
- Operating income
- $102.1M
- Net income
- −$506.9M
HistoryDividendAnnual yieldUpcoming
| Institutions | 107.18% | 239.01M shares | |
|---|---|---|---|
| 435 holders · as of Jun 30, 2026 | |||
| Insiders | 0.37% | 821.7K shares | |
| 11 holders · as of Jun 16, 2026 | |||
| Strategic holders | 5.15% | 11.48M shares | |
| 1 holder · as of May 4, 2026 | |||
| Adds to | 112.70% | ||
222.99M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 112.70%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 17.31% | 38.60M | as of Jun 30, 2026 |
Price T Rowe Associates Inc /MD/Institution | 12.61% | 28.11M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 8.79% | 19.59M | as of Jun 30, 2026 |
Capital International InvestorsInstitution | 5.24% | 11.69M | as of Jun 30, 2026 |
BlackRock Portfolio Management LLCStrategic | 5.15% | 11.48M | filed May 4, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 28, 2026 | David E. Lanzer | officer: General Counsel & Secretary | −33,299 | $35.47 |
| Mar 17, 2026 | Michael S. Frankel | director, officer: Co-CEO, Co-President | −23,132 | $35.29 |
| Feb 27, 2026 | Michael Fitzmaurice | officer: Chief Financial Officer | +2,650 | $37.55 |
| Feb 27, 2026 | David P. Stockert | director | +5,000 | $37.39 |
| Feb 27, 2026 | Laura E. Clark | officer: Chief Operating Officer | +5,310 | $37.73 |
- Prologis
Dominant scale rival for Southern California warehouse leasing and infill deals
- Terreno Realty
Closest strategic mirror: pure-play coastal infill industrial specialist
- First Industrial Realty Trust
National industrial REIT with meaningful Inland Empire overlap
- EastGroup Properties
Sunbelt multi-tenant industrial peer with limited California overlap
- STAG Industrial
Diversified secondary-market industrial REIT; public capital-markets peer
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Rexford Industrial | $38.23 | −0.05% | $8.85B | — | 33.8 | 9.0 | +0.6% |
| Prologis | $135.88 | −0.04% | $126.78B | 30.3 | 39.3 | 13.8 | +7.5% |
| Terreno Realty | $66.40 | −0.05% | $7.06B | 17.8 | 36.7 | 14.0 | +11.1% |
| First Industrial Realty Trust | $61.89 | 0.00% | $8.22B | 22.6 | 34.7 | 10.8 | +8.2% |
| EastGroup Properties | $203.44 | +0.06% | $10.89B | 35.5 | 36.8 | 14.5 | +9.1% |
| STAG Industrial | $37.32 | −0.03% | $7.23B | 28.9 | 74.4 | 8.2 | +7.8% |
| Median | 28.9 | 36.8 | 13.8 | +8.2% |