Rexford Industrial Realty, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing a net loss of $411.179 million for the nine months ended September 30, 2026, driven largely by $703.412 million in real estate impairment charges.

Key Highlights

  • Nine-month net loss: Rexford reported a net loss of $411.179 million for the nine months ended September 30, 2026, compared to net income of $287.498 million in the same period of 2025.
  • Real estate impairment: The company recorded $703.412 million in impairment of real estate during the nine months ended September 30, 2026, with $71.834 million of that occurring in Q3 2026 alone.
  • Q3 revenue decline: Total revenues for the three months ended September 30, 2026 were $239.103 million, down from $253.242 million in Q3 2025.
  • Nine-month rental income: Rental income for the nine months ended September 30, 2026 was $720.974 million, compared to $737.146 million in the same period of 2025.
  • Total assets: Total assets stood at $10.786847 billion as of September 30, 2026, down from $12.612713 billion as of December 31, 2025.
  • Share count reduction: Common shares outstanding fell to 214,864,041 at September 30, 2026 from 231,580,135 at December 31, 2025; shares outstanding at October 21, 2026 were 212,136,272.
  • Gains on sale of real estate: The company reported $71.382 million in gains on sale of real estate for the nine months ended September 30, 2026, compared to $86.101 million in the same period of 2025.

Rexford Industrial's Nine-Month Results: Impairment Charges Weigh on Financials

According to the filing, Rexford Industrial Realty, Inc. (NYSE:REXR) reported a net loss attributable to common stockholders of $404.396 million, or $1.80 per share (basic and diluted), for the nine months ended September 30, 2026. This compares to net income attributable to common stockholders of $268.859 million, or $1.16 per share, in the comparable prior-year period. The company disclosed that $703.412 million in impairment of real estate charges was recorded over the nine-month period, with $71.834 million recorded in the three months ended September 30, 2026.

The filing shows total revenues of $729.687 million for the nine months ended September 30, 2026, versus $755.036 million in the same period of 2025. Rental income, the primary revenue component, declined to $720.974 million from $737.146 million year over year. Total operating expenses for the nine-month period were $432.874 million, down from $467.195 million in 2025, with general and administrative expenses falling to $42.049 million from $59.657 million. Interest expense for the nine months was $79.956 million, compared to $79.452 million in the prior-year period.

On the balance sheet, the company reported total real estate held for investment of $10.961268 billion as of September 30, 2026, down from $13.016641 billion at December 31, 2025, reflecting both dispositions and impairments. Notes payable stood at $2.767195 billion, compared to $3.251909 billion at year-end 2025. Cash and cash equivalents increased to $423.590 million from $165.778 million over the same interval. Cumulative distributions in excess of earnings widened to $1.333548 billion from $642.130 million at December 31, 2025. The company also reported $4.850 million in other income for the nine-month period, with no comparable amount recorded in 2025.

What Was Disclosed

Rexford Industrial Realty, Inc. disclosed its unaudited financial results for the three and nine months ended September 30, 2026, including $703.412 million in real estate impairment charges, a nine-month net loss of $411.179 million, and a reduction in total assets to $10.786847 billion from $12.612713 billion at year-end 2025.