Apple Hospitality REIT, Inc. (APLE) vs First Industrial Realty Trust, Inc. (FR)
A side-by-side comparison of Apple Hospitality REIT, Inc. and First Industrial Realty Trust, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — APLE vs FR
growth of $100 · dividends reinvested · last 10yAPLE vs FR: by the numbers
- •FR is the larger company ($8.20B vs $3.73B market cap).
- •FR converts more revenue to profit (47.96% vs 12.17% net margin).
- •APLE grew revenue faster over the past five years (15.90% vs 10.47% CAGR).
- •APLE pays the higher dividend yield (6.17% vs 3.08%).
Metrics side by side
Valuation
| Metric | APLE | FR |
|---|---|---|
| P/E ratio | 21.32 | 22.59 |
| Forward P/E | 22.14 | 24.73 |
| P/S ratio | 2.59 | 10.80 |
| P/B ratio | 1.19 | 2.96 |
| EV / EBITDA | 8.53 | 21.05 |
| FCF yield | 6.79% | 5.00% |
For REITs like Apple Hospitality REIT, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like First Industrial Realty Trust, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | APLE | FR |
|---|---|---|
| Gross margin | 6.38% | 22.60% |
| Operating margin | 17.57% | 41.59% |
| Net margin | 12.17% | 47.96% |
| ROE | 5.58% | 13.12% |
| ROIC | 5.17% | 5.63% |
Dividends
| Metric | APLE | FR |
|---|---|---|
| Dividend yield | 6.17% | 3.08% |
| Payout ratio | 129.73% | 68.98% |
Apple Hospitality REIT, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
First Industrial Realty Trust, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | APLE | FR |
|---|---|---|
| Revenue CAGR (5Y) | 15.90% | 10.47% |
| EPS CAGR (5Y) | N/A | 4.10% |
| FCF CAGR (5Y) | 47.12% | 7.52% |
| Total return CAGR (5Y) | 7.83% | 5.56% |
Frequently asked
- Which has grown faster, APLE or FR?
- Over the past five years, APLE grew revenue faster — APLE at a 15.90% CAGR versus FR at 10.47%.
- Does APLE or FR pay a bigger dividend?
- APLE yields 6.17% and FR yields 3.08% based on trailing dividends and the latest price.
- Is APLE or FR more profitable?
- FR runs the higher net margin — APLE at 12.17% versus FR at 47.96%.
- How have APLE and FR total returns compared?
- Over the past 10 years, APLE delivered 3.99% and FR delivered 11.19% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Apple Hospitality REIT & First Industrial Realty Trust appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.