First Industrial Realty Trust, Inc. (FR) vs Rexford Industrial Realty, Inc. (REXR)
A side-by-side comparison of First Industrial Realty Trust, Inc. and Rexford Industrial Realty, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 2, 2026. Differences are shown without an overall score or investment verdict.
Total return — FR vs REXR
growth of $100 · dividends reinvested · last 10yFR vs REXR: by the numbers
- •REXR is the larger company ($8.39B vs $7.88B market cap).
- •FR is profitable (47.96% net margin) while REXR runs a net loss (-39.74%).
- •REXR grew revenue faster over the past five years (21.19% vs 10.47% CAGR).
- •REXR pays the higher dividend yield (4.73% vs 3.21%).
Metrics side by side
Valuation
| Metric | FR | REXR |
|---|---|---|
| P/E ratio | 21.70 | N/A |
| Forward P/E | 23.36 | N/A |
| PEG ratio | 5.29 | N/A |
| P/S ratio | 10.38 | 8.52 |
| P/B ratio | 2.84 | 1.11 |
| EV / EBITDA | 20.41 | 16.90 |
| FCF yield | 5.20% | 2.71% |
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.
For REITs like Rexford Industrial Realty, 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 | FR | REXR |
|---|---|---|
| Gross margin | 22.60% | 77.30% |
| Operating margin | 41.59% | 39.57% |
| Net margin | 47.96% | -39.74% |
| ROE | 13.12% | -5.19% |
| ROIC | 5.63% | 3.46% |
Dividends
| Metric | FR | REXR |
|---|---|---|
| Dividend yield | 3.21% | 4.73% |
| Payout ratio | 68.98% | N/A |
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.
Rexford Industrial Realty, 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 | FR | REXR |
|---|---|---|
| Revenue CAGR (5Y) | 10.47% | 21.19% |
| EPS CAGR (5Y) | 4.10% | 11.02% |
| FCF CAGR (5Y) | N/A | 13.91% |
| Total return CAGR (5Y) | 5.00% | -5.80% |
Frequently asked
- Which has grown faster, FR or REXR?
- Over the past five years, REXR grew revenue faster — FR at a 10.47% CAGR versus REXR at 21.19%.
- Does FR or REXR pay a bigger dividend?
- FR yields 3.21% and REXR yields 4.73% based on trailing dividends and the latest price.
- Is FR or REXR more profitable?
- FR runs the higher net margin — FR at 47.96% versus REXR at -39.74%.
- How have FR and REXR total returns compared?
- Over the past 10 years, FR delivered 10.58% and REXR delivered 7.51% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
First Industrial Realty Trust & Rexford Industrial Realty 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 October 2, 2026.