Is Rexford Industrial Realty, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for Rexford Industrial Realty, Inc. has moved from attractive to very attractive. The company appears undervalued, particularly given its P/E ratio of 30, which is higher than the industry average, and a price-to-book value of 0.97, indicating that the stock is trading below its book value. Additionally, the EV to EBITDA ratio stands at 12.38, suggesting a favorable valuation compared to peers.
In the peer comparison, Rexford's P/E ratio of 32.21 is higher than that of Gaming & Leisure Properties, Inc. at 18.89, but lower than Regency Centers Corp. at 63.58. The company's dividend yield of 407.30% is notably high, which may attract income-focused investors despite its relatively low ROCE of 4.47% and ROE of 3.23%. Over the past year, Rexford has underperformed the S&P 500, returning -1.76% compared to the index's 12.65%, which may indicate a potential for recovery as the valuation metrics suggest it is currently undervalued.