Rexford Industrial Realty reported that it has sold five industrial properties for a total of $127.4 million year‑to‑date through March 31, 2026, and has completed a share‑repurchase program that bought back 5,534,357 shares for $200 million at a weighted average price of $36.14 per share. The company still has $300 million of its $500 million share‑repurchase program available.
The dispositions add to a $170 million pipeline of properties under contract or accepted offers. Compared with the full‑year 2025 results, which saw seven properties sold for $217.5 million and $250 million spent on share repurchases, the current year‑to‑date figures are lower, reflecting a more selective portfolio reduction and a focus on high‑value assets. One of the sold sites, an Anaheim office campus that was part of the company’s near‑term development pipeline, was divested to preserve approximately $32 million in capital expenditures that would have been required for construction.
The share‑repurchase program, which began in 2023, has now used $200 million of its $500 million allotment. The program is intended to return cash to shareholders while maintaining a strong balance sheet and to benchmark future investments against the risk‑adjusted returns of share repurchases. The weighted average repurchase price of $36.14 per share is consistent with the company’s historical buyback pricing, and the remaining $300 million provides flexibility for future capital allocation decisions.
CEO Laura Clark, who assumed the role on April 1, 2026, said, "As we enter Rexford's next chapter, we continue to execute on our capital recycling strategy to unlock meaningful value and drive per‑share FFO and NAV growth." She added, "We are committed to a reformed capital allocation approach that maximizes risk‑adjusted returns and strengthens the quality and resilience of our portfolio, positioning Rexford's value creation platform to drive superior shareholder value."
The company’s focus on the Southern California industrial market, which remains high‑demand and low‑supply, underpins the decision to sell non‑core assets and reinvest in higher‑return opportunities. Market conditions in March 2026 showed stabilization of rent growth, modest vacancy increases, and a shift toward more efficient, high‑quality properties, supporting Rexford’s strategy to refine its portfolio and preserve capital for future growth.
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