Fact based stock research
Rexford Industrial Realty (NYSE:REXR)

US76169C1009

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Rexford Industrial Realty stock research in summary

rexfordindustrial.com

ANALYSIS: With an Obermatt Combined Rank of 90 (better than 90% compared with investment alternatives), Rexford Industrial Realty (REITs: Industrials, USA) shares have much better financial characteristics than comparable stocks. Shares of Rexford Industrial Realty are low in value (priced high) with a consolidated Value Rank of 35 (worse than 65% of alternatives) and show below-average growth (Growth Rank of 39) but are safely financed (Safety Rank of 92), which means low debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 90, is a strong buy recommendation based on Rexford Industrial Realty's financial characteristics. As the company Rexford Industrial Realty's critical financial metrics exhibit below-average performance, such as low value (Obermatt Value Rank of 35) and low growth (Obermatt Growth Rank of 39), it is a somewhat questionable stock investment, where the risk of paying too much for the shares is significant, unless the company has an exceptionally bright future. In this case, good financing practices (Obermatt Safety Rank of 92) are a positive sign, because it may allow the company to weather challenging times until the hoped-for cash flows materialize. This may be true for high-tech or biotechnology companies with enough cash to sustain prolonged business development. If they own properties that only provide cash flows in the future, the stock may look excessively expensive and unattractive today. In such cases, the Obermatt Method has limited value, as it is based on facts we can observe today. If the facts lie all in the future, stock investing becomes guesswork, and this should only be a driver in a limited number of investments that account for a small fraction of a safe portfolio. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	35
Growth Rank	39
Safety Rank	92
Combined Rank	90

Country	USA
Industry	REITs: Industrials
Index	S&P MIDCAP
Size class	Medium

19-Dec-2024. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Rexford Industrial Realty

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	1	7	10	35
GROWTH
GROWTH	85	97	93	39
SAFETY
SAFETY	84	92	92	92
SENTIMENT
SENTIMENT	n/a	93	92	^new
360° VIEW
360° VIEW	n/a	83	96	^new

Most recent update of the stock research: 19-Dec-2024. Financial reporting date used for calculating ranks: 30-Sep-2024. Stock research history is based on the Obermatt Method. The higher the rank, the better Rexford Industrial Realty is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2021	2022	2023	2024
VALUE
VALUE	1	7	10	35
GROWTH
GROWTH	85	97	93	39
SAFETY
SAFETY	84	92	92	92
COMBINED
COMBINED	58	90	90	90

Last update of combined financial performance: 6-Oct-2022. Stock analysis on combined financial performance: The higher the rank of Rexford Industrial Realty the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 35 (worse than 65% compared with alternatives), Rexford Industrial Realty shares are more expensive than the average comparable stock. The Value Rank is based on consolidating four value indicators where three out of four are below average for Rexford Industrial Realty. Only the Price-to-Book Capital ratio (also referred to as market-to-book ratio) indicates good stock value with a Price-to-Book Rank of 54, which means that the stock price is lower compared with invested capital than for 54% of comparable investments. All other value indicators are below the market median. Price-to-Sales is 28 which means the stock price compared with what market professionals expect for future profits is higher than 72% of comparable companies, indicating a low value concerning Rexford Industrial Realty's revenue levels. The same is valid for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Book Rank of 54 and for the dividend yields rank which is lower than for 56% of comparable companies, making the stock more expensive as regards to with the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 35, is a hold recommendation based on Rexford Industrial Realty's stock price compared with the company's operational size and dividend yields. Why are market participants paying such a high price for Rexford Industrial Realty, where three out of four value indicators are below par? One reason could be that the company is well financed, indicated by the high book capital level, and has a promising future that is not yet visible in reported revenues and profits. That would also explain the low dividend yield because the company needs the cash to invest in its future. If investors can verify a picture in this sense, the stock may still be a good investment, even though current company-reported financials don't fully explain current stock prices. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is essential in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2021	2022	2023	2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	1	5	7	28
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	5	9	10	26
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	12	41	49	54
DIVIDEND YIELD
DIVIDEND YIELD	6	21	23	44
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	1	7	10	35

Last update of Value Rank: 19-Dec-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Rexford Industrial Realty; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 39 (better than 39% compared with alternatives), Rexford Industrial Realty shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Rexford Industrial Realty. Sales Growth has a rank of 86, which means that, currently, professionals expect the company to grow more than 86% of its competitors. Profit Growth with a rank of 73 is also above average. But Capital Growth has only a rank of 21, and Stock Returns with 5 are also below-average. Stock returns for Rexford Industrial Realty have recently been below 95% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 39, is a hold recommendation for growth and momentum investors. Are investors forecasting troubles based on the lack of operating investment activity at the company? This could be one explanation as to why stock returns are low. But stock returns can also be the result of correcting an error in the past, in this case, an overly optimistic outlook on the future, which is now more realistic. The Value Ranks may confirm such a picture. The more important growth indicators are revenues and profits, which are both above average for Rexford Industrial Realty. This is a positive sign from the company's operational side and may give investors courage, despite the poor recent stock price performance. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with the Obermatt Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS	2021	2022	2023	2024
REVENUE GROWTH
REVENUE GROWTH	95	84	91	86
PROFIT GROWTH
PROFIT GROWTH	96	70	79	73
CAPITAL GROWTH
CAPITAL GROWTH	n/a	88	87	21
STOCK RETURNS
STOCK RETURNS	53	79	37	5
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	85	97	93	39

Last update of Growth Rank: 19-Dec-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Rexford Industrial Realty.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 92 (better than 92% compared with alternatives) for 2022, the company Rexford Industrial Realty has safe financing practices, which means that their overall debt burden is low. This doesn't mean that the business of Rexford Industrial Realty is safe, it only means that the company is on the safer side regarding possible bankruptcy, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Rexford Industrial Realty. Leverage is at a rank of 84, meaning the company has a below-average debt-to-equity ratio. It has less debt than 84% of its competitors. Liquidity is also good at a rank of 70, meaning the company generates more profit to service its debt than 70% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 10, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 90% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 92 (better than 92% compared with alternatives), Rexford Industrial Realty has a financing structure that is significantly safer than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Rexford Industrial Realty. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Rexford Industrial Realty and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2021	2022	2023	2024
LEVERAGE
LEVERAGE	92	80	84	84
REFINANCING
REFINANCING	69	10	10	10
LIQUIDITY
LIQUIDITY	35	60	61	70
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	84	92	92	92

Last update of Safety Rank: 6-Oct-2022. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Rexford Industrial Realty and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2021	2022	2023	2024
ANALYST OPINIONS
ANALYST OPINIONS	n/a	100	88	^new
OPINIONS CHANGE
OPINIONS CHANGE	n/a	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	n/a	59	65	^new
MARKET PULSE
MARKET PULSE	n/a	80	75	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	n/a	93	92	^new

Last update of Sentiment Rank: 19-Dec-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Rexford Industrial Realty.
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