Rexford Industrial Realty (REXR)
Market Price (11/3/2026): $38.58 | Market Cap: $8.2 BilSector: Real Estate | Industry: Industrial REITs
Rexford Industrial Realty (REXR)
Market Price (11/3/2026): $38.58Market Cap: $8.2 BilSector: Real EstateIndustry: Industrial REITs
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 52%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% Attractive yieldDividend Yield is 4.8% Low stock price volatilityVol 12M is 26% Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & DTC Adoption, and Sustainable & Green Buildings. Themes include E-commerce Logistics REITs, Show more. | Trading close to highsDist 52W High is -4.0% Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -79% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.0%, Rev Chg QQuarterly Revenue Change % is -5.6% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9% Key risksREXR key risks include [1] its singular portfolio concentration in the Southern California market, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 52%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27% |
| Attractive yieldDividend Yield is 4.8% |
| Low stock price volatilityVol 12M is 26% |
| Megatrend and thematic driversMegatrends include E-commerce Logistics & Data Centers, E-commerce & DTC Adoption, and Sustainable & Green Buildings. Themes include E-commerce Logistics REITs, Show more. |
| Trading close to highsDist 52W High is -4.0% |
| Weak multi-year price returns2Y Excs Rtn is -34%, 3Y Excs Rtn is -79% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.0%, Rev Chg QQuarterly Revenue Change % is -5.6% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9% |
| Key risksREXR key risks include [1] its singular portfolio concentration in the Southern California market, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 11/1/2026
Rexford Industrial Realty (REXR) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Rexford Industrial Realty delivered strong operational results in fiscal Q3 2026 and raised its full-year guidance.
The company announced its fiscal Q3 2026 results on October 22, 2026, reporting Core FFO per diluted share of $0.60, which was consistent with the prior year quarter and met analyst expectations. Revenue for the quarter reached $239.1 million, surpassing analyst consensus estimates. Bolstering investor confidence, Rexford Industrial raised its full-year 2026 Core FFO per share guidance to a range of $2.41-$2.44, an increase from its previous guidance of $2.38-$2.43. This upward revision was primarily attributed to better-than-expected leasing activity, a 75 basis point increase at the midpoint in the same-property net operating income (NOI) growth outlook, and lower full-year bad debt than previously anticipated. Additionally, same-property ending occupancy improved by 200 basis points from fiscal Q2 2026 to 96.9% in fiscal Q3 2026, with the company executing 3.7 million square feet of new and renewal leases, and comparable rental rates increasing by 7.1% on a net effective basis.
2. The company advanced its strategic portfolio realignment with significant dispositions and strengthened its balance sheet.
Rexford Industrial continued its strategic initiative to dispose of non-core assets, notably entering into an agreement on August 18, 2026, and completing on September 17, 2026, the sale of a $1.2 billion industrial portfolio. This transaction is part of a larger $2.0 billion disposition program for fiscal year 2026, with year-to-date dispositions reaching $1.5 billion by September 17, 2026. The proceeds from these sales are strategically allocated to debt repayment and opportunistic share repurchases. In fiscal Q3 2026, Rexford repaid $485.0 million of debt, including $60.0 million of 2026 maturities and $425.0 million of 2027 maturities, which reduced its Net Debt to Adjusted EBITDAre from 4.5x in fiscal Q2 2026 to 3.8x. Furthermore, the company repurchased 10.9 million shares of common stock for $408.7 million at a weighted average price of $37.59 per share during fiscal Q3 2026.
Show more
Rexford Industrial Realty (REXR) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Rexford Industrial Realty delivered strong operational results in fiscal Q3 2026 and raised its full-year guidance.
The company announced its fiscal Q3 2026 results on October 22, 2026, reporting Core FFO per diluted share of $0.60, which was consistent with the prior year quarter and met analyst expectations. Revenue for the quarter reached $239.1 million, surpassing analyst consensus estimates. Bolstering investor confidence, Rexford Industrial raised its full-year 2026 Core FFO per share guidance to a range of $2.41-$2.44, an increase from its previous guidance of $2.38-$2.43. This upward revision was primarily attributed to better-than-expected leasing activity, a 75 basis point increase at the midpoint in the same-property net operating income (NOI) growth outlook, and lower full-year bad debt than previously anticipated. Additionally, same-property ending occupancy improved by 200 basis points from fiscal Q2 2026 to 96.9% in fiscal Q3 2026, with the company executing 3.7 million square feet of new and renewal leases, and comparable rental rates increasing by 7.1% on a net effective basis.
2. The company advanced its strategic portfolio realignment with significant dispositions and strengthened its balance sheet.
Rexford Industrial continued its strategic initiative to dispose of non-core assets, notably entering into an agreement on August 18, 2026, and completing on September 17, 2026, the sale of a $1.2 billion industrial portfolio. This transaction is part of a larger $2.0 billion disposition program for fiscal year 2026, with year-to-date dispositions reaching $1.5 billion by September 17, 2026. The proceeds from these sales are strategically allocated to debt repayment and opportunistic share repurchases. In fiscal Q3 2026, Rexford repaid $485.0 million of debt, including $60.0 million of 2026 maturities and $425.0 million of 2027 maturities, which reduced its Net Debt to Adjusted EBITDAre from 4.5x in fiscal Q2 2026 to 3.8x. Furthermore, the company repurchased 10.9 million shares of common stock for $408.7 million at a weighted average price of $37.59 per share during fiscal Q3 2026.
Show more
Updated on 11/1/2026
Rexford Industrial Realty (REXR) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Rexford Industrial Realty delivered strong operational results in fiscal Q3 2026 and raised its full-year guidance.
The company announced its fiscal Q3 2026 results on October 22, 2026, reporting Core FFO per diluted share of $0.60, which was consistent with the prior year quarter and met analyst expectations. Revenue for the quarter reached $239.1 million, surpassing analyst consensus estimates. Bolstering investor confidence, Rexford Industrial raised its full-year 2026 Core FFO per share guidance to a range of $2.41-$2.44, an increase from its previous guidance of $2.38-$2.43. This upward revision was primarily attributed to better-than-expected leasing activity, a 75 basis point increase at the midpoint in the same-property net operating income (NOI) growth outlook, and lower full-year bad debt than previously anticipated. Additionally, same-property ending occupancy improved by 200 basis points from fiscal Q2 2026 to 96.9% in fiscal Q3 2026, with the company executing 3.7 million square feet of new and renewal leases, and comparable rental rates increasing by 7.1% on a net effective basis.
2. The company advanced its strategic portfolio realignment with significant dispositions and strengthened its balance sheet.
Rexford Industrial continued its strategic initiative to dispose of non-core assets, notably entering into an agreement on August 18, 2026, and completing on September 17, 2026, the sale of a $1.2 billion industrial portfolio. This transaction is part of a larger $2.0 billion disposition program for fiscal year 2026, with year-to-date dispositions reaching $1.5 billion by September 17, 2026. The proceeds from these sales are strategically allocated to debt repayment and opportunistic share repurchases. In fiscal Q3 2026, Rexford repaid $485.0 million of debt, including $60.0 million of 2026 maturities and $425.0 million of 2027 maturities, which reduced its Net Debt to Adjusted EBITDAre from 4.5x in fiscal Q2 2026 to 3.8x. Furthermore, the company repurchased 10.9 million shares of common stock for $408.7 million at a weighted average price of $37.59 per share during fiscal Q3 2026.
3. Favorable industrial market fundamentals in Southern California and nationally provided a positive backdrop.
The infill Southern California industrial market, Rexford Industrial's primary focus, continued to demonstrate improving fundamentals with increasing tenant demand. More broadly, the U.S. industrial market remained healthy throughout fiscal Q3 2026, with net absorption reaching 76.6 million square feet, marking the strongest quarter since early 2023. National vacancy rates eased to 6.8% in fiscal Q3 2026, a decrease of 20 basis points from the end of 2025. Asking rents nationally saw a year-over-year increase of 4.0% in fiscal Q3 2026, continuing a trend of accelerating rent growth. Additionally, a decline in construction activity is anticipated to limit future supply additions, supporting market conditions.
4. Analyst sentiment remained largely positive with multiple price target increases during the period.
Several financial analysts reiterated or upgraded their ratings and raised price targets for Rexford Industrial during the specified period. For example, Wells Fargo maintained an "Overweight" rating and increased its price target from $43.00 to $47.00 on October 30, 2026. Truist Financial raised its price target from $38.00 to $39.00 with a "buy" rating on October 12, 2026. BNP Paribas Exane also lifted its price target from $38.00 to $41.00 on October 26, 2026, maintaining a "hold" rating. These adjustments reflect a general confidence in the company's performance and the underlying strength of the industrial real estate sector.
Show less
Rexford Industrial Realty (REXR) stock has gained about 5% since 7/31/2026 because of the following key factors:
1. Rexford Industrial Realty delivered strong operational results in fiscal Q3 2026 and raised its full-year guidance.
The company announced its fiscal Q3 2026 results on October 22, 2026, reporting Core FFO per diluted share of $0.60, which was consistent with the prior year quarter and met analyst expectations. Revenue for the quarter reached $239.1 million, surpassing analyst consensus estimates. Bolstering investor confidence, Rexford Industrial raised its full-year 2026 Core FFO per share guidance to a range of $2.41-$2.44, an increase from its previous guidance of $2.38-$2.43. This upward revision was primarily attributed to better-than-expected leasing activity, a 75 basis point increase at the midpoint in the same-property net operating income (NOI) growth outlook, and lower full-year bad debt than previously anticipated. Additionally, same-property ending occupancy improved by 200 basis points from fiscal Q2 2026 to 96.9% in fiscal Q3 2026, with the company executing 3.7 million square feet of new and renewal leases, and comparable rental rates increasing by 7.1% on a net effective basis.
2. The company advanced its strategic portfolio realignment with significant dispositions and strengthened its balance sheet.
Rexford Industrial continued its strategic initiative to dispose of non-core assets, notably entering into an agreement on August 18, 2026, and completing on September 17, 2026, the sale of a $1.2 billion industrial portfolio. This transaction is part of a larger $2.0 billion disposition program for fiscal year 2026, with year-to-date dispositions reaching $1.5 billion by September 17, 2026. The proceeds from these sales are strategically allocated to debt repayment and opportunistic share repurchases. In fiscal Q3 2026, Rexford repaid $485.0 million of debt, including $60.0 million of 2026 maturities and $425.0 million of 2027 maturities, which reduced its Net Debt to Adjusted EBITDAre from 4.5x in fiscal Q2 2026 to 3.8x. Furthermore, the company repurchased 10.9 million shares of common stock for $408.7 million at a weighted average price of $37.59 per share during fiscal Q3 2026.
3. Favorable industrial market fundamentals in Southern California and nationally provided a positive backdrop.
The infill Southern California industrial market, Rexford Industrial's primary focus, continued to demonstrate improving fundamentals with increasing tenant demand. More broadly, the U.S. industrial market remained healthy throughout fiscal Q3 2026, with net absorption reaching 76.6 million square feet, marking the strongest quarter since early 2023. National vacancy rates eased to 6.8% in fiscal Q3 2026, a decrease of 20 basis points from the end of 2025. Asking rents nationally saw a year-over-year increase of 4.0% in fiscal Q3 2026, continuing a trend of accelerating rent growth. Additionally, a decline in construction activity is anticipated to limit future supply additions, supporting market conditions.
4. Analyst sentiment remained largely positive with multiple price target increases during the period.
Several financial analysts reiterated or upgraded their ratings and raised price targets for Rexford Industrial during the specified period. For example, Wells Fargo maintained an "Overweight" rating and increased its price target from $43.00 to $47.00 on October 30, 2026. Truist Financial raised its price target from $38.00 to $39.00 with a "buy" rating on October 12, 2026. BNP Paribas Exane also lifted its price target from $38.00 to $41.00 on October 26, 2026, maintaining a "hold" rating. These adjustments reflect a general confidence in the company's performance and the underlying strength of the industrial real estate sector.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The 3.4% change in REXR stock from 7/31/2026 to 11/2/2026 was primarily driven by a 3.3% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.33 | 38.59 | 3.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 992 | 978 | -1.4% |
| P/S Multiple | 8.4 | 8.7 | 3.3% |
| Shares Outstanding (Mil) | 224 | 221 | 1.5% |
| Cumulative Contribution | 3.4% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| REXR | 3.4% | |
| Market (SPY) | 0.7% | -8.4% |
| Sector (XLRE) | -3.2% | 36.8% |
Fundamental Drivers
The 10.2% change in REXR stock from 4/30/2026 to 11/2/2026 was primarily driven by a 8.4% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.02 | 38.59 | 10.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 996 | 978 | -1.8% |
| P/S Multiple | 8.0 | 8.7 | 8.4% |
| Shares Outstanding (Mil) | 228 | 221 | 3.5% |
| Cumulative Contribution | 10.2% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| REXR | 10.2% | |
| Market (SPY) | 4.9% | 4.0% |
| Sector (XLRE) | -0.9% | 56.8% |
Fundamental Drivers
The -1.9% change in REXR stock from 10/31/2025 to 11/2/2026 was primarily driven by a -5.9% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.35 | 38.59 | -1.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 998 | 978 | -2.0% |
| P/S Multiple | 9.3 | 8.7 | -5.9% |
| Shares Outstanding (Mil) | 235 | 221 | 6.4% |
| Cumulative Contribution | -1.9% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| REXR | -1.9% | |
| Market (SPY) | 11.2% | 21.7% |
| Sector (XLRE) | 9.5% | 56.6% |
Fundamental Drivers
The 1.2% change in REXR stock from 10/31/2023 to 11/2/2026 was primarily driven by a 27.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312023 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.12 | 38.59 | 1.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 766 | 978 | 27.7% |
| P/S Multiple | 10.2 | 8.7 | -14.8% |
| Shares Outstanding (Mil) | 205 | 221 | -6.9% |
| Cumulative Contribution | 1.2% |
Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| REXR | 1.2% | |
| Market (SPY) | 86.0% | 44.5% |
| Sector (XLRE) | 44.9% | 68.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| REXR Return | 68% | -31% | 6% | -28% | 5% | 4% | -5% |
| Peers Return | 62% | -30% | 20% | -9% | 15% | 8% | 54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| REXR Win Rate | 67% | 42% | 33% | 25% | 75% | 45% | |
| Peers Win Rate | 75% | 32% | 57% | 50% | 65% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| REXR Max Drawdown | -10% | -40% | -36% | -31% | -23% | -22% | |
| Peers Max Drawdown | -10% | -39% | -21% | -19% | -23% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: PLD, TRNO, EGP, FR, STAG. See REXR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)
How Low Can It Go
| Event | REXR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.9% | -18.8% |
| % Gain to Breakeven | 28.1% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.6% | -9.5% |
| % Gain to Breakeven | 32.7% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.4% | -33.7% |
| % Gain to Breakeven | 54.8% | 50.9% |
| Time to Breakeven | 206 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -10.7% | -19.2% |
| % Gain to Breakeven | 12.0% | 23.8% |
| Time to Breakeven | 24 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -12.1% | -3.7% |
| % Gain to Breakeven | 13.7% | 3.9% |
| Time to Breakeven | 31 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -10.5% | -12.2% |
| % Gain to Breakeven | 11.7% | 13.9% |
| Time to Breakeven | 26 days | 62 days |
In The Past
Rexford Industrial Realty's stock fell -21.9% during the 2025 US Tariff Shock. Such a loss loss requires a 28.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | REXR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -21.9% | -18.8% |
| % Gain to Breakeven | 28.1% | 23.1% |
| Time to Breakeven | 136 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -24.6% | -9.5% |
| % Gain to Breakeven | 32.7% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2020 COVID-19 Crash | ||
| % Loss | -35.4% | -33.7% |
| % Gain to Breakeven | 54.8% | 50.9% |
| Time to Breakeven | 206 days | 140 days |
In The Past
Rexford Industrial Realty's stock fell -21.9% during the 2025 US Tariff Shock. Such a loss loss requires a 28.1% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Rexford Industrial Realty (REXR)
Rexford Industrial Realty (REXR) is a real estate investment trust (REIT) specializing in industrial properties. The company's core business involves the acquisition, ownership, operation, and management of industrial real estate assets. Rexford strategically focuses exclusively on the high-demand, limited-supply infill markets of Southern California.
Rexford's primary service is providing industrial space for lease, catering to a diverse range of businesses that require facilities for warehousing, distribution, light manufacturing, and other industrial operations. These properties serve as critical infrastructure for its customers, which include companies across logistics, e-commerce, and various manufacturing sectors. The company currently owns a substantial portfolio of 232 properties, encompassing approximately 27.9 million rentable square feet, and also manages an additional 20 properties.
AI Analysis | Feedback
```html
- Rexford Industrial is like **Simon Property Group for warehouses.**
- Rexford Industrial is like **Public Storage for businesses needing large warehouses.**
- Rexford Industrial is like **Equinix, but for physical goods warehouses instead of data centers.**
AI Analysis | Feedback
- Industrial Property Leasing: Providing space within industrial properties (such as warehouses, distribution centers, and manufacturing facilities) to businesses through lease agreements.
- Industrial Property Management: Offering comprehensive management services for industrial real estate assets, which may include tenant relations, maintenance, and financial oversight for properties owned by the company or third parties.
AI Analysis | Feedback
Rexford Industrial Realty (REXR) leases its industrial properties primarily to other companies rather than individuals. However, the company maintains a highly diversified tenant base, with no single tenant accounting for more than 1.4% of its total annualized base rent. Due to this significant diversification, there are no specific "major customers" (individual companies) that can be identified and listed by name.
Instead, Rexford Industrial serves a broad range of businesses across various industries that require industrial space for their operations. These customer companies can be broadly categorized by their primary business sectors, including:
- Logistics and Distribution: Companies involved in the storage, movement, and distribution of goods, often serving as critical hubs in supply chains.
- E-commerce: Businesses requiring space for warehousing, fulfillment centers, and last-mile delivery operations to support online retail activities.
- Manufacturing: Companies that produce goods, needing industrial facilities for production, assembly, and related activities.
- Food & Beverage: Businesses involved in the processing, storage, and distribution of food and beverage products, often requiring specialized industrial spaces.
AI Analysis | Feedback
null
AI Analysis | Feedback
Howard Schwimmer, Co-Chief Executive Officer and Director
Mr. Schwimmer has served as Rexford Industrial's Co-Chief Executive Officer and as a member of its Board of Directors since its formation in January 2013. He founded Rexford Industrial's predecessor business in 2001, and under his leadership, the company has grown into a leading publicly-traded industrial REIT. Mr. Schwimmer brings over 40 years of specialized experience in Southern California infill industrial real estate. He previously held senior executive roles at DAUM Commercial Real Estate and has extensive experience in the formation and governance of both private and public real estate investment entities.
Michael S. Frankel, Co-Chief Executive Officer and Director
Mr. Frankel serves as Rexford Industrial's Co-Chief Executive Officer and on the Board of Directors since July 2013. He previously served as the Chief Financial Officer of Rexford Industrial Realty & Management Inc. since May 2005 and as Managing Partner of Rexford Industrial LLC and Rexford Sponsor LLC. Mr. Frankel's career spans real estate investment, private equity investments, and senior management operating roles. He was formerly responsible for investments at the private equity firm "C3," a subsidiary of the Comcast Corporation, and also served with LEK Consulting.
Michael Fitzmaurice, Chief Financial Officer
Mr. Fitzmaurice serves as Rexford Industrial's Chief Financial Officer, a role he was appointed to in October 2024. He brings 25 years of real estate, finance, accounting, investments, and operations experience to Rexford. Prior to joining Rexford, Mr. Fitzmaurice served as the Executive Vice President and Chief Financial Officer of RPT Realty, a real estate investment trust acquired by Kimco Realty Corporation, and also held leadership roles at Retail Properties of America, Inc.
Laura Clark, Chief Operating Officer and Director
Ms. Clark serves as Rexford Industrial's Chief Operating Officer and joined the Company's Board of Directors in November 2025. She is slated to assume the role of Chief Executive Officer in April 2026. Ms. Clark previously served as Chief Financial Officer from August 2020 to November 2024. Before joining Rexford, she held leadership positions at Regency Centers and worked in capital markets and equity research at Green Street Advisors.
David Lanzer, General Counsel and Secretary
Mr. Lanzer has served as Rexford Industrial's General Counsel since March 2016, overseeing all legal services and risk management. He also serves as the secretary to the Board of Directors. Prior to his tenure at Rexford Industrial, Mr. Lanzer was First Vice President and Senior Counsel of Prologis, Inc., where he provided legal counsel for the U.S. Southwest and Northwest regions.
AI Analysis | Feedback
The key risks to Rexford Industrial Realty (REXR) predominantly stem from its concentrated operational focus and broader economic factors impacting the real estate sector.
- Geographic Concentration and Southern California Market Softness: Rexford Industrial Realty's business is highly concentrated in the industrial real estate markets of Southern California. While this region has historically offered advantages due to high barriers to entry and limited supply, it also exposes the company to significant regional economic downturns, market-specific risks, and regulatory changes unique to California. Recent reports indicate a slowing demand and persistent supply issues within the Southern California market, which could negatively impact occupancy rates, rental growth, and overall financial performance, as evidenced by decelerating cash leasing spreads. Regulatory risks, such as new climate-related laws and potential changes to property tax propositions (like Measure ULA or Proposition 13), could further increase operational costs and affect property values in the region.
- Interest Rate Fluctuations: As a real estate investment trust (REIT), Rexford is particularly sensitive to changes in interest rates. Increases in interest rates can lead to higher borrowing costs, making it more expensive for the company to finance new property acquisitions or refinance existing debt. This can also diminish the attractiveness of REIT dividend yields compared to other investment options, potentially impacting stock performance. Despite efforts to maintain a conservative capital structure and utilize hedging strategies like interest rate swaps, the risk from fluctuating interest rates remains a significant concern.
- Tenant and Industry-Specific Exposure: Although Rexford aims for a diversified tenant base, a concentration in certain industries, such as Manufacturing, Wholesale Trade, and Transportation and Warehousing, exposes the company to sector-specific risks. Economic shifts or downturns disproportionately affecting these industries could impact tenant financial health, potentially leading to vacancies, reduced rental income, or challenges in maintaining high occupancy rates.
AI Analysis | Feedback
null
AI Analysis | Feedback
Rexford Industrial Realty's addressable market for industrial properties is the Southern California infill markets. The total industrial real estate base for Southern California is approximately 1.3 billion square feet.
Rexford Industrial Realty operates within this region, which the company describes as the world's fourth-largest industrial market and consistently the highest-demand with lowest-supply major market in the United States over the long term.
AI Analysis | Feedback
Rexford Industrial Realty (REXR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Rental Rate Growth: The company anticipates increasing rental income from its existing portfolio, primarily due to strong demand within the Southern California infill markets. This is evidenced by expectations for higher same-property Net Operating Income (NOI) growth and projected net effective releasing spreads of 5-10%.
- Strategic Acquisitions: Rexford Industrial plans to expand its portfolio through strategic acquisitions of industrial properties. The company employs a programmatic disposition plan, selling certain properties to recycle capital into new, accretive investment opportunities that are expected to enhance future cash flow growth.
- Value-Add Redevelopment and Repositioning: A significant driver involves stabilizing value-added projects, which include the redevelopment and repositioning of properties to increase their income-generating potential. For instance, the company expects to stabilize approximately 1.2 million square feet of such projects, generating an estimated $20 million in annualized NOI by mid-2026.
AI Analysis | Feedback
- Share Repurchases
- Rexford repurchased $100 million of shares in Q4 2025, contributing to a total of $250 million for the full year.
- In February 2026, the company repurchased $100 million of common stock (2.67 million shares) under its authorized $500 million share repurchase program.
- As of February 26, 2026, $400 million remained available under the current $500 million share repurchase program.
- Share Issuance
- Rexford Industrial Realty's shares outstanding increased by 6.45% in 2025, reaching 0.233 billion.
- In 2024, shares outstanding grew by 7.56% to 0.218 billion.
- Shares outstanding increased by 18.79% in 2023, totaling 0.203 billion.
- Inbound Investments
- Sophron Capital Management initiated a $7.2 million position in the company during the fourth quarter of 2025.
- Three company insiders, including the COO, CFO, and a Director, collectively purchased nearly $387,000 worth of shares in late February 2026.
- Outbound Investments
- Through February 25, 2026, Rexford sold two properties for an aggregate of $41.2 million.
- In 2025, the company sold seven properties, totaling $218 million.
- Rexford is targeting between $400 million and $500 million in asset dispositions for 2026.
- Capital Expenditures
- For the full year 2025, Rexford stabilized 21 repositioning and development projects, representing a total investment of $798.0 million.
- In Q4 2025, seven repositioning and development projects were stabilized, with a total investment of $306.0 million.
- Exiting a development site in Irwindale in February 2026 is projected to preserve approximately $20 million of future capital spend.
Peer Outperformance in Industrial REITs
REXR has trailed 70% of its 10 Industrial REITs peers over 5Y. Among the peers that beat it are EGP, FR and STAG. Industrial REITs ranks 6th of 12 industries in Real Estate by median 5Y return.
Share of Industrial REITs constituents that REXR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
0%
of 12 industry peers · -1.9% return
3Y
20%
of 10 industry peers · -4.5% return
5Y
30%
of 10 industry peers · -32.1% return
Industrial REITs peers with revenue growth within 4pp of REXR's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| REXR | Rexford Industrial Realty | 8.8% | -18.5x | -1.9% | -4.5% | -32.1% | — |
| EGP | EastGroup Properties | 11.8% | 34.1x | 19.0% | 30.0% | 17.3% | +49pp |
| FR | First Industrial Realty Trust | 8.8% | 20.3x | 2.4% | 36.2% | 6.3% | +38pp |
| STAG | Stag Industrial | 9.0% | 26.8x | 1.7% | 19.5% | 6.1% | +38pp |
| PLD | Prologis | 6.0% | 28.7x | 7.8% | 34.0% | 2.2% | +34pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Real Estate sector, ranked by 5Y. Industrial REITs is REXR's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care REITs | 15 | 15.9% | 63.4% | 68.7% | WELL 229% · OHI 133% · CTRE 124% |
| Retail REITs | 23 | 18.0% | 34.3% | 28.0% | SKT 126% · SPG 82% · KRG 55% |
| Hotel & Resort REITs | 16 | 67.3% | 47.3% | 14.1% | HST 88% · RHP 79% · DRH 70% |
| Real Estate Development | 6 | -5.6% | 19.1% | 10.7% | JOE 57% |
| Other Specialized REITs | 11 | -0.3% | 23.7% | 10.0% | IRM 198% · LAMR 72% · OUT 70% |
| Industrial REITs ← | 11 | 14.0% | 31.4% | 0.1% | EGP 17% · FR 6% · STAG 6% |
| Single-Family Residential REITs | 4 | -0.2% | -1.2% | -21.1% | AMH -9% · ELS -19% · INVH -23% |
| Diversified REITs | 12 | 5.4% | 16.2% | -22.7% | WPC 12% · EPRT 11% |
| Multi-Family Residential REITs | 12 | -1.1% | 20.3% | -24.6% | ESS -5% · VMRK -10% · UDR -21% |
| Real Estate Services | 26 | -29.4% | -13.9% | -30.7% | JLL 47% · CBRE 34% · NMRK -15% |
| Office REITs | 19 | -3.2% | 32.4% | -31.2% | CDP 52% · SLG -1% · HIW -2% |
| Telecom Tower REITs | 3 | 1.4% | 3.9% | -39.0% | AMT -22% · CCI -39% · SBAC -44% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.87 |
| Mkt Cap | 7.9 |
| Rev LTM | 838 |
| Op Inc LTM | 332 |
| FCF LTM | 405 |
| FCF 3Y Avg | 395 |
| CFO LTM | 496 |
| CFO 3Y Avg | 467 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.9% |
| Rev Chg 3Y Avg | 8.9% |
| Rev Chg Q | 9.0% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | 8.8% |
| Op Inc Chg 3Y Avg | 12.6% |
| Op Mgn LTM | 40.3% |
| Op Mgn 3Y Avg | 39.6% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 56.9% |
| CFO/Rev 3Y Avg | 56.9% |
| FCF/Rev LTM | 50.0% |
| FCF/Rev 3Y Avg | 51.7% |
Price Behavior
Price Behavior
| Market Price | $38.59 | |
| Market Cap ($ Bil) | 8.5 | |
| First Trading Date | 07/19/2013 | |
| Distance from 52W High | -4.0% | |
| 50 Days | 200 Days | |
| DMA Price | $37.21 | $35.65 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | 3.7% | 8.3% |
| 3M | 1YR | |
| Volatility | 24.9% | 26.0% |
| Downside Capture | -43.60 | 38.39 |
| Upside Capture | -14.54 | 31.33 |
| Correlation (S&P 500) | -2.4% | 22.5% |
REXR Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.38 | -0.09 | -0.18 | 0.10 | 0.45 | 0.80 |
| Up Beta | 2.03 | 1.63 | 0.11 | 0.04 | 0.41 | 0.83 |
| Down Beta | 1.81 | 0.59 | 0.20 | 0.58 | 0.92 | 0.97 |
| Up Capture | -92% | -38% | -25% | 7% | 18% | 29% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 18 | 27 | 56 | 116 | 366 |
| Down Capture | -176% | -77% | -50% | -23% | 42% | 92% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 24 | 36 | 69 | 134 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with REXR | |
|---|---|---|---|---|
| REXR | -1.9% | 26.0% | -0.12 | - |
| Sector ETF (XLRE) | 9.6% | 14.1% | 0.41 | 56.6% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 21.7% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | 6.0% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -11.9% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | 60.5% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 19.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with REXR | |
|---|---|---|---|---|
| REXR | -7.1% | 27.8% | -0.26 | - |
| Sector ETF (XLRE) | 1.4% | 19.2% | -0.03 | 76.4% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 54.3% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 10.5% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | 8.8% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 78.2% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 23.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with REXR | |
|---|---|---|---|---|
| REXR | 8.7% | 27.3% | 0.34 | - |
| Sector ETF (XLRE) | 6.8% | 20.4% | 0.28 | 77.9% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 58.4% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 10.9% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | 15.7% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 79.1% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 14.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/22/2026 | 6.7% | 5.7% | |
| 7/23/2026 | 8.4% | 6.7% | 3.5% |
| 4/23/2026 | -2.4% | -1.2% | -0.4% |
| 2/4/2026 | -6.5% | -9.4% | -13.0% |
| 10/15/2025 | 2.3% | 1.9% | -2.3% |
| 7/16/2025 | -2.5% | 4.8% | 4.0% |
| 4/16/2025 | -0.4% | 3.2% | 9.2% |
| 2/5/2025 | -0.5% | -1.9% | -0.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 9 |
| # Negative | 14 | 12 | 14 |
| Median Positive | 2.3% | 3.7% | 6.4% |
| Median Negative | -2.3% | -2.6% | -3.2% |
| Max Positive | 8.4% | 6.7% | 11.0% |
| Max Negative | -9.1% | -11.6% | -20.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/22/2026 | 6.7% | 5.7% | |
| 7/23/2026 | 8.4% | 6.7% | 3.5% |
| 4/23/2026 | -2.4% | -1.2% | -0.4% |
| 2/4/2026 | -6.5% | -9.4% | -13.0% |
| 10/15/2025 | 2.3% | 1.9% | -2.3% |
| 7/16/2025 | -2.5% | 4.8% | 4.0% |
| 4/16/2025 | -0.4% | 3.2% | 9.2% |
| 2/5/2025 | -0.5% | -1.9% | -0.8% |
| 10/16/2024 | -9.1% | -8.7% | -15.5% |
| 7/17/2024 | -1.7% | -2.3% | 1.2% |
| 4/17/2024 | 2.2% | 0.7% | 9.2% |
| 2/6/2024 | -2.6% | -2.5% | -1.0% |
| 10/18/2023 | -5.4% | -11.6% | -0.1% |
| 7/19/2023 | 0.1% | 5.1% | -5.9% |
| 4/19/2023 | 0.1% | -4.1% | -3.7% |
| 2/8/2023 | -2.0% | -2.7% | -12.0% |
| 10/19/2022 | -1.7% | 4.4% | 6.4% |
| 7/20/2022 | 0.8% | 1.4% | 9.9% |
| 4/19/2022 | 5.3% | 1.1% | -20.5% |
| 2/9/2022 | -4.9% | -5.4% | -7.1% |
| 10/20/2021 | 2.3% | 4.2% | 11.0% |
| 7/21/2021 | -0.5% | 0.7% | 1.0% |
| 4/21/2021 | -2.2% | -2.4% | -2.8% |
| 2/10/2021 | 0.8% | -1.4% | -2.2% |
| SUMMARY STATS | |||
| # Positive | 10 | 12 | 9 |
| # Negative | 14 | 12 | 14 |
| Median Positive | 2.3% | 3.7% | 6.4% |
| Median Negative | -2.3% | -2.6% | -3.2% |
| Max Positive | 8.4% | 6.7% | 11.0% |
| Max Negative | -9.1% | -11.6% | -20.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/27/2026 | 10-Q |
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/20/2025 | 10-Q |
| 06/30/2025 | 07/21/2025 | 10-Q |
| 03/31/2025 | 04/21/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-K |
| 09/30/2024 | 10/21/2024 | 10-Q |
| 06/30/2024 | 07/22/2024 | 10-Q |
| 03/31/2024 | 04/22/2024 | 10-Q |
| 12/31/2023 | 02/12/2024 | 10-K |
| 09/30/2023 | 10/23/2023 | 10-Q |
| 06/30/2023 | 07/24/2023 | 10-Q |
| 03/31/2023 | 04/24/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 10/27/2026 | 10-Q |
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 02/11/2026 | 10-K |
| 09/30/2025 | 10/20/2025 | 10-Q |
| 06/30/2025 | 07/21/2025 | 10-Q |
| 03/31/2025 | 04/21/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-K |
| 09/30/2024 | 10/21/2024 | 10-Q |
| 06/30/2024 | 07/22/2024 | 10-Q |
| 03/31/2024 | 04/22/2024 | 10-Q |
| 12/31/2023 | 02/12/2024 | 10-K |
| 09/30/2023 | 10/23/2023 | 10-Q |
| 06/30/2023 | 07/24/2023 | 10-Q |
| 03/31/2023 | 04/24/2023 | 10-Q |
| 12/31/2022 | 02/13/2023 | 10-K |
| 09/30/2022 | 10/24/2022 | 10-Q |
| 06/30/2022 | 07/26/2022 | 10-Q |
| 03/31/2022 | 04/26/2022 | 10-Q |
| 12/31/2021 | 02/17/2022 | 10-K |
| 09/30/2021 | 10/26/2021 | 10-Q |
| 06/30/2021 | 07/27/2021 | 10-Q |
| 03/31/2021 | 04/27/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 10/26/2020 | 10-Q |
| 06/30/2020 | 07/27/2020 | 10-Q |
| 03/31/2020 | 05/04/2020 | 10-Q |
| 12/31/2019 | 02/19/2020 | 10-K |
Recent Forward Guidance
Updated 10/23/2026Latest: Q3 2026 Earnings Reported 10/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Common Stock Dividend | Reported | 0.44 | ||||||
| Q4 2026 Series B Preferred Stock Dividend | Reported | 0.37 | ||||||
| Q4 2026 Series C Preferred Stock Dividend | Reported | 0.35 | ||||||
| 2026 Net Loss Attributable to Common Stockholders per diluted share | Reported | -1.55 | -1.54 | -1.52 | 18.5% | Lowered | Guidance: -1.3 for 2026 | |
| 2026 Company share of Core FFO per diluted share | Reported | 2.41 | 2.43 | 2.44 | 0.8% | Raised | Guidance: 2.41 for 2026 | |
| 2026 Same Property Portfolio NOI Growth - Net Effective | Reported | -0.25% | 0.0% | 0.25% | 0.8% | Raised | Guidance: -0.75% for 2026 | |
| 2026 Same Property Portfolio NOI Growth - Cash | Reported | 0.25% | 0.5% | 0.75% | 0.8% | Raised | Guidance: -0.25% for 2026 | |
| 2026 Average Same Property Portfolio Occupancy | Reported | 0.96 | 0.96 | 0.96 | 0.4% | Raised | Guidance: 0.96 for 2026 | |
| 2026 Dispositions | Reported | 1.70 Bil | 1.85 Bil | 2.00 Bil | 5.7% | Raised | Guidance: 1.75 Bil for 2026 | |
| 2026 Repositioning/Development Annualized Stabilized Cash NOI | Reported | 16.00 Mil | 17.00 Mil | 18.00 Mil | 0.0% | Affirmed | Guidance: 17.00 Mil for 2026 | |
| 2026 Repositioning/Development Starts (SF) | Reported | 0.80 Mil | ||||||
| 2026 Repositioning/Development Starts (Total Estimated Project Costs) | Reported | 125.00 Mil | 127.50 Mil | 130.00 Mil | -22.7% | Lowered | Guidance: 165.00 Mil for 2026 | |
| 2026 General and Administrative Expenses | Reported | 57.00 Mil | ||||||
| 2026 Company share of depreciation and amortization | Reported | 1.24 | 1.24 | 1.24 | ||||
| 2026 Company share of impairment of real estate | Reported | 3.04 | 3.04 | 3.04 | ||||
| 2026 Company share of gains on sale of real estate | Reported | -0.31 | -0.31 | -0.31 | ||||
| 2026 Company share of FFO per diluted share | Reported | 2.42 | 2.44 | 2.45 | ||||
| 2026 Core FFO adjustments per diluted share | Reported | -0.01 | -0.01 | -0.01 | ||||
| 2026 Interest Expense | Reported | 105.00 Mil | ||||||
Prior: Q2 2026 Earnings Reported 7/23/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net (Loss) Income Attributable to Common Stockholders per diluted share | Reported | -1.32 | -1.3 | -1.27 | Lowered | Guidance: 1.25 for 2026 | ||
| 2026 Company share of Core FFO per diluted share | Reported | 2.38 | 2.41 | 2.43 | 0.4% | Raised | Guidance: 2.4 for 2026 | |
| 2026 Same Property Portfolio NOI Growth - Net Effective | Reported | -1.25% | -0.75% | -0.25% | 0.8% | Raised | Guidance: -1.5% for 2026 | |
| 2026 Same Property Portfolio NOI Growth - Cash | Reported | -0.75% | -0.25% | 0.25% | 0.8% | Raised | Guidance: -1.0% for 2026 | |
| 2026 Average Same Property Portfolio Occupancy | Reported | 0.95 | 0.96 | 0.96 | 0.2% | Raised | Guidance: 0.95 for 2026 | |
| 2026 Dispositions | Reported | 1.50 Bil | 1.75 Bil | 2.00 Bil | 288.9% | Raised | Guidance: 450.00 Mil for 2026 | |
| 2026 Repositioning/Development Annualized Stabilized Cash NOI | Reported | 16.00 Mil | 17.00 Mil | 18.00 Mil | 0 | Affirmed | Guidance: 17.00 Mil for 2026 | |
| 2026 Repositioning/Development Starts (Total Estimated Project Costs) | Reported | 160.00 Mil | 165.00 Mil | 170.00 Mil | 0 | Affirmed | Guidance: 165.00 Mil for 2026 | |
Insider Activity
Updated 6/16/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lanzer, David E | General Counsel & Secretary | Direct | Sell | 4282026 | 35.47 | 33,299 | Form | ||
| 2 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 3182026 | 35.29 | 23,132 | 816,358 | 19,777,456 | Form |
| 3 | Clark, Laura E | Chief Operating Officer | Direct | Buy | 2272026 | 37.73 | 5,310 | 200,338 | 200,338 | Form |
| 4 | Stockert, David P | Direct | Buy | 2272026 | 37.39 | 5,000 | 186,958 | 255,347 | Form | |
| 5 | Fitzmaurice, Michael | Chief Financial Officer | Direct | Buy | 2272026 | 37.55 | 2,650 | 99,507 | 530,694 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lanzer, David E | General Counsel & Secretary | Direct | Sell | 4282026 | 35.47 | 33,299 | Form | ||
| 2 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 3182026 | 35.29 | 23,132 | 816,358 | 19,777,456 | Form |
| 3 | Clark, Laura E | Chief Operating Officer | Direct | Buy | 2272026 | 37.73 | 5,310 | 200,338 | 200,338 | Form |
| 4 | Stockert, David P | Direct | Buy | 2272026 | 37.39 | 5,000 | 186,958 | 255,347 | Form | |
| 5 | Fitzmaurice, Michael | Chief Financial Officer | Direct | Buy | 2272026 | 37.55 | 2,650 | 99,507 | 530,694 | Form |
| 6 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 12082025 | 40.06 | 18,750 | 751,086 | 23,375,307 | Form |
| 7 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 12042025 | 41.61 | 20,318 | 845,383 | 25,059,758 | Form |
| 8 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 12042025 | 41.51 | 7,400 | 307,165 | 25,843,628 | Form |
| 9 | Frankel, Michael S | Co-CEO, Co-President | Direct | Sell | 12042025 | 41.50 | 10,650 | 442,008 | 26,147,202 | Form |
| 10 | Lanzer, David E | General Counsel & Secretary | Direct | Sell | 7212025 | 36.87 | 26,449 | Form |
Investor Activity (13F)
Updated Nov 3, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Real Estate Resources |
| The Real Deal |
| Commercial Observer |
| Inman |
| Industrial REITs Resources |
| NAIOP |
| Industrial Property Journal |
| Commercial Property Executive - Industrial |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 11/2/2026