Rexford Industrial Realty, Inc. (REXR) Form 10-Q — Oct 26, 2026
Rexford Industrial posted a nine-month 2026 net loss of $411.2 million versus a $287.5 million profit a year earlier, driven by $692.4 million of aggregate impairment charges on 27 properties written down ahead of planned sales. Q3 itself was profitable at $18.1 million ($0.07 EPS), but rental revenue is shrinking — nine-month revenue fell to $729.7 million from $755.0 million. The company is aggressively shrinking its balance sheet: $609.1 million of buybacks in the nine months (16.5M shares at $36.94 average), repayment of its $300M term loan, and asset sales cut total assets to $10.8 billion from $12.6 billion at year-end.
Key figures
- Revenue
- 729687000
- Total Debt
- 2786284000
- Revenue Yoy
- -3.4% (nine months: $729.7M vs $755.0M)
- Total Assets
- 10786847000
- Cash Position
- 423590000
- Q3 2026 eps
- 0.07
- Credit ratings
- BBB+ S&P, BBB+ Fitch, Baa2 Moody's
- Q3 2026 revenue
- 239103000
- Q3 2026 net income
- 18070000
- Q3 dividend per share
- 0.435
- Revolver availability
- 1245000000
- Nine month share buybacks
- 609100000
- Buyback weighted avg price
- 36.94
- Nine month impairment charges
- 692400000
- Exchangeable notes outstanding
- 1.15B ($575M 2027 + $575M 2029)
- Shares outstanding oct 21 2026
- 212136272
- Remaining buyback authorization
- 591100000
- 2027 exchangeable notes maturity
- March 15, 2027
AI analysis
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