Rexford Industrial Realty, Inc. REXR recently provided a disposition update. Year to date through March 31, 2026, the company completed the sale of five properties for an aggregate sales price of $127.4 million.
Among these, 9010 Avenue Paine in Valencia (Los Angeles–Greater San Fernando Valley submarket) fetched $31 million at $310 per square foot. This 100,157-square-foot, 100% leased single-tenant industrial building was sold to an owner-user. Similarly, 13700-13738 Slover Avenue in Fontana (Inland Empire–West submarket) was sold for $14.5 million, or $79 per square foot of land. The 4.2-acre vacant, low-coverage site was acquired by an owner-user.
The portfolio also included 600-708 Vermont Avenue in Anaheim (Orange County–North submarket), which commanded $40.7 million at $77 per square foot of land. This 133,836-square-foot vacant single-tenant office campus was purchased by a merchant builder. This campus was previously slated for near-term development pipeline and, through this sale, it allows the company to avoid nearly $32 million in capital expenditures.
The company has about $170 million in property dispositions either under contract or with accepted offers. This includes four properties from the near-term development pipeline and four additional operating properties. These transactions are subject to customary due diligence and closing conditions; as such, there is no guarantee the company will close on these transactions.
Share Repurchase Update
Rexford’s share repurchases demonstrate its commitment to driving shareholder value. Year to date through March 31, 2026, the company repurchased 5,534,357 shares of its common stock for $200 million at a weighted average price of $36.14 per share. The company has $300 million of availability under the current $500 million share repurchase program.
Conclusion
Rexford’s disposition activities position the company to redeploy proceeds into high growth opportunities. Through share repurchases, the company maximizes risk-adjusted returns and drives strong shareholder value in a competitive REIT landscape.
In the past month, shares of this Zacks Rank #4 (Sell) company have declined 15.6% against the industry's growth of 1.6%.
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Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Gladstone Land LAND and Piedmont Realty Trust, Inc. PDM, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for LAND’s 2026 FFO per share is pinned at 43 cents. This indicates year-over-year growth of 10.3% for 2026.
The Zacks Consensus Estimate for PDM’s 2026 FFO per share is pegged at $1.49. This implies year-over-year growth of 5.7% for 2026.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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