REXFORD INDUSTRIAL REALTY IN (REXR)
US76169C1009 - REIT
Taking everything into account, REXR scores 6 out of 10 in our fundamental rating. REXR was compared to 127 industry peers in the Diversified REITs industry. REXR has an excellent profitability rating, but there are some minor concerns on its financial health. REXR is valued quite expensively, but it does show have an excellent growth rating.
1. Profitability
1.1 Basic Checks
In the past year REXR was profitable.
REXR had a positive operating cash flow in the past year.
Each year in the past 5 years REXR has been profitable.
In the past 5 years REXR always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of REXR (1.84%) is better than 64.80% of its industry peers.
REXR's Return On Equity of 2.84% is in line compared to the rest of the industry. REXR outperforms 58.40% of its industry peers.
The Return On Invested Capital of REXR (2.02%) is worse than 63.20% of its industry peers.
The Average Return On Invested Capital over the past 3 years for REXR is in line with the industry average of 2.98%.
The last Return On Invested Capital (2.02%) for REXR is above the 3 year average (1.94%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.84% | ||
| ROE | 2.84% | ||
| ROIC | 2.02% |
ROA(3y)1.81%
ROA(5y)1.61%
ROE(3y)2.56%
ROE(5y)2.31%
ROIC(3y)1.94%
ROIC(5y)1.82%
1.3 Margins
REXR has a better Profit Margin (27.64%) than 82.40% of its industry peers.
In the last couple of years the Profit Margin of REXR has grown nicely.
REXR has a Operating Margin of 37.35%. This is amongst the best in the industry. REXR outperforms 83.20% of its industry peers.
REXR's Operating Margin has improved in the last couple of years.
REXR has a Gross Margin of 77.09%. This is in the better half of the industry: REXR outperforms 73.60% of its industry peers.
REXR's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 37.35% | ||
| PM (TTM) | 27.64% | ||
| GM | 77.09% |
OM growth 3Y7.34%
OM growth 5Y7.08%
PM growth 3Y15.36%
PM growth 5Y10.91%
GM growth 3Y0.45%
GM growth 5Y0.32%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), REXR is destroying value.
The number of shares outstanding for REXR has been increased compared to 1 year ago.
The number of shares outstanding for REXR has been increased compared to 5 years ago.
The debt/assets ratio for REXR has been reduced compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.46, we must say that REXR is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.46, REXR belongs to the top of the industry, outperforming 88.00% of the companies in the same industry.
The Debt to FCF ratio of REXR is 24.00, which is on the high side as it means it would take REXR, 24.00 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of REXR (24.00) is better than 63.20% of its industry peers.
REXR has a Debt/Equity ratio of 0.42. This is a healthy value indicating a solid balance between debt and equity.
The Debt to Equity ratio of REXR (0.42) is better than 94.40% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | 24 | ||
| Altman-Z | 1.46 |
ROIC/WACC0.26
WACC7.86%
2.3 Liquidity
REXR has a Current Ratio of 1.01. This is a normal value and indicates that REXR is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.01, REXR is not doing good in the industry: 64.00% of the companies in the same industry are doing better.
A Quick Ratio of 1.01 indicates that REXR should not have too much problems paying its short term obligations.
REXR's Quick ratio of 1.01 is on the low side compared to the rest of the industry. REXR is outperformed by 60.80% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.01 | ||
| Quick Ratio | 1.01 |
3. Growth
3.1 Past
REXR shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.74%, which is quite good.
The Earnings Per Share has been growing by 22.26% on average over the past years. This is a very strong growth
Looking at the last year, REXR shows a very strong growth in Revenue. The Revenue has grown by 22.04%.
The Revenue has been growing by 30.29% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)14.74%
EPS 3Y30.84%
EPS 5Y22.26%
EPS growth Q2Q-10%
Revenue 1Y (TTM)22.04%
Revenue growth 3Y34.2%
Revenue growth 5Y30.29%
Revenue growth Q2Q14.98%
3.2 Future
Based on estimates for the next years, REXR will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.88% on average per year.
The Revenue is expected to grow by 14.48% on average over the next years. This is quite good.
EPS Next Y1.39%
EPS Next 2Y9.78%
EPS Next 3Y16.59%
EPS Next 5Y10.88%
Revenue Next Year13.14%
Revenue Next 2Y15.57%
Revenue Next 3Y16.75%
Revenue Next 5Y14.48%
3.3 Evolution
The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 41.39, the valuation of REXR can be described as expensive.
REXR's Price/Earnings ratio is in line with the industry average.
REXR's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 28.43.
A Price/Forward Earnings ratio of 33.42 indicates a quite expensive valuation of REXR.
Based on the Price/Forward Earnings ratio, REXR is valued a bit cheaper than the industry average as 71.20% of the companies are valued more expensively.
REXR is valuated expensively when we compare the Price/Forward Earnings ratio to 20.51, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 41.39 | ||
| Fwd PE | 33.42 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, REXR is valued expensively inside the industry as 88.00% of the companies are valued cheaper.
The rest of the industry has a similar Price/Free Cash Flow ratio as REXR.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 70.42 | ||
| EV/EBITDA | 22.93 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates REXR does not grow enough to justify the current Price/Earnings ratio.
The decent profitability rating of REXR may justify a higher PE ratio.
REXR's earnings are expected to grow with 16.59% in the coming years. This may justify a more expensive valuation.
PEG (NY)29.72
PEG (5Y)1.86
EPS Next 2Y9.78%
EPS Next 3Y16.59%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 3.69%, REXR has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 5.78, REXR is paying slightly less dividend.
Compared to an average S&P500 Dividend Yield of 2.36, REXR pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.69% |
5.2 History
The dividend of REXR is nicely growing with an annual growth rate of 15.97%!
REXR has been paying a dividend for at least 10 years, so it has a reliable track record.
As REXR did not decrease their dividend in the past 5 years, we can say the dividend looks stable.
Dividend Growth(5Y)15.97%
Div Incr Years5
Div Non Decr Years5
5.3 Sustainability
147.40% of the earnings are spent on dividend by REXR. This is not a sustainable payout ratio.
The dividend of REXR is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP147.4%
EPS Next 2Y9.78%
EPS Next 3Y16.59%
REXFORD INDUSTRIAL REALTY IN
NYSE:REXR (5/10/2024, 7:16:14 PM)
After market: 45.11 0 (0%)45.11
-0.19 (-0.42%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap9.83B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.69% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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EPS beat(8)
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EPS beat(16)
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Revenue beat(2)
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PT rev (1m)
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EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
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Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 41.39 | ||
| Fwd PE | 33.42 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)29.72
PEG (5Y)1.86
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.84% | ||
| ROE | 2.84% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 37.35% | ||
| PM (TTM) | 27.64% | ||
| GM | 77.09% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.07
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.42 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.01 | ||
| Quick Ratio | 1.01 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
Growth
EPS 1Y (TTM)14.74%
EPS 3Y30.84%
EPS 5Y
EPS growth Q2Q
EPS Next Y1.39%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)22.04%
Revenue growth 3Y34.2%
Revenue growth 5Y
Revenue growth Q2Q
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y