Camden Property Trust (CPT) vs First Industrial Realty Trust, Inc. (FR)
A side-by-side comparison of Camden Property Trust and First Industrial Realty Trust, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 8, 2026. Differences are shown without an overall score or investment verdict.
Total return — CPT vs FR
growth of $100 · dividends reinvested · last 10yCPT vs FR: by the numbers
- •CPT is the larger company ($10.60B vs $8.20B market cap).
- •FR converts more revenue to profit (47.96% vs 20.74% net margin).
- •FR grew revenue faster over the past five years (10.47% vs 7.98% CAGR).
- •CPT pays the higher dividend yield (3.99% vs 3.06%).
Metrics side by side
Valuation
| Metric | CPT | FR |
|---|---|---|
| P/E ratio | 35.11 | 22.57 |
| Forward P/E | 98.24 | 24.71 |
| P/S ratio | 6.88 | 10.79 |
| P/B ratio | 2.85 | 2.95 |
| EV / EBITDA | 17.42 | 21.03 |
| FCF yield | 6.15% | 5.00% |
For REITs like Camden Property Trust, 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 | CPT | FR |
|---|---|---|
| Gross margin | 61.41% | 22.60% |
| Operating margin | 17.82% | 41.59% |
| Net margin | 20.74% | 47.96% |
| ROE | 8.58% | 13.12% |
| ROIC | 2.93% | 5.63% |
Dividends
| Metric | CPT | FR |
|---|---|---|
| Dividend yield | 3.99% | 3.06% |
| Payout ratio | 140.20% | 68.98% |
Camden Property Trust'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 | CPT | FR |
|---|---|---|
| Revenue CAGR (5Y) | 7.98% | 10.47% |
| EPS CAGR (5Y) | 23.35% | 4.10% |
| FCF CAGR (5Y) | 47.01% | 7.52% |
| Total return CAGR (5Y) | -3.92% | 4.58% |
Frequently asked
- Which has grown faster, CPT or FR?
- Over the past five years, FR grew revenue faster — CPT at a 7.98% CAGR versus FR at 10.47%.
- Does CPT or FR pay a bigger dividend?
- CPT yields 3.99% and FR yields 3.06% based on trailing dividends and the latest price.
- Is CPT or FR more profitable?
- FR runs the higher net margin — CPT at 20.74% versus FR at 47.96%.
- How have CPT and FR total returns compared?
- Over the past 10 years, CPT delivered 5.18% and FR delivered 10.76% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Camden Property & 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 8, 2026.