Rexford Industrial Realty Inc.

Rexford Industrial has signed a binding agreement to sell an industrial real estate portfolio for roughly $1.2 billion to a subsidiary of EQT Real Estate; closing is expected by the end of Q3 2026. The cash‑NOI yield for 2027 is estimated at 5.5%. The transaction is part of a planned $2.0 billion asset disposition initiative; proceeds are intended to repay maturing debt, fund opportunistic share repurchases (a $1.0 billion program) and support internal repositioning and development projects. Rexford confirmed its 2026 guidance; as of June 30, 2026 the portfolio comprised 409 properties totaling about 49.9 million square feet in Southern California, and roughly $1.5 billion of dispositions have already been completed or contractually agreed year-to-date. » Altro su de.investing.com

Rexford Industrial reported Q1 2026 core FFO per share of $0.61 and EPS of $0.38, well above analyst estimates; revenue was $245.08 million. The company executed $200 million of share repurchases (average price $36) and raised its full‑year core FFO per share guidance to $2.37–$2.42. Occupancy climbed to 96.3% and lease signings increased 70% to 4.1 million square feet, while same‑property NOI still shows slight headwinds. Rexford plans further capital recycling through dispositions and buybacks but remains mindful of risks such as broad rent declines and concentrated credit losses. » Altro su de.investing.com

In the first quarter Rexford Industrial sold five properties for a total of $127.4 million, including an industrial building in Valencia ($31.0 million), a parcel in Fontana ($14.5 million) and an office complex in Anaheim ($40.7 million). The sales will save about $32 million in planned capital expenditures, and further dispositions worth roughly $170 million are under contract or on offer. During the quarter the company repurchased 5,534,357 common shares at a weighted average price of $36.14; under the ongoing $500 million program about $300 million remains available. » Altro su de.investing.com

At the Citi conference Rexford outlined its capital allocation: $100 million in share buybacks year-to-date (vs. $250 million last year) and planned disposals of $400–500 million for the year, with an annual target of 1–3% of the portfolio. The company aims to reduce the G&A ratio from 9% (2024) to 6% by 2026 and prioritizes cash flow and strict underwriting; $150 million of development spending was avoided by canceling unprofitable projects. Operationally, Rexford reported negative net absorption and rising vacancies but sees signs of stabilization in Southern California with easing rent declines and more tours; John Nahas was promoted to COO. » Altro su de.investing.com

Rexford Industrial reported only moderate Core FFO growth for Q4 2025 and missed GAAP expectations after $89 million of property impairments, which led to a loss per share. The company reports robust leasing metrics and high occupancy but sees falling market rents in Southern California and reduced mark-to-market potential. In 2025 Rexford favored dispositions over acquisitions and used proceeds largely for $250 million of share repurchases; for 2026 management expects flat to slightly negative Core FFO and declining same‑property NOI. The balance sheet remains solid with $1.4 billion of liquidity and investment‑grade ratings, while capital allocation and development caution will be tested in a difficult market. » Altro su de.investing.com