AAT vs NXRT vs IIPR vs CPT vs EQR

For growth investors, Equity Residential (EQR) is the stronger pick with 4.

1% revenue growth year-over-year, versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). Innovative Industrial Properties, Inc. (IIPR) offers the better valuation at 14. 6x trailing P/E (13. 5x forward), making it the more compelling value choice. Analysts rate American Assets Trust, Inc. (AAT) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Innovative Industrial Properties, Inc.

(IIPR) is the cheapest at 14. 6x versus Camden Property Trust at 29. 3x. On forward P/E, Innovative Industrial Properties, Inc. is actually cheaper at 13. 5x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Camden Property Trust wins at 2. 87x versus Equity Residential's 9. 36x.

Over the past 5 years, Equity Residential (EQR) delivered a total return of +5.

5%, compared to -46. 9% for Innovative Industrial Properties, Inc. (IIPR). Over 10 years, the gap is even starker: IIPR returned +439. 9% versus AAT's -22. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Camden Property Trust (CPT) is the lower-risk stock at 0.

32β versus Innovative Industrial Properties, Inc. 's 0. 91β — meaning IIPR is approximately 186% more volatile than CPT relative to the S&P 500. On balance sheet safety, Innovative Industrial Properties, Inc. (IIPR) carries a lower debt/equity ratio of 21% versus 5% for NexPoint Residential Trust, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), Equity Residential (EQR) is pulling ahead at 4.

1% versus -13. 8% for Innovative Industrial Properties, Inc. (IIPR). On earnings-per-share growth, the picture is similar: Camden Property Trust grew EPS 136. 0% year-over-year, compared to -30. 8% for NexPoint Residential Trust, Inc.. Over a 3-year CAGR, EQR leads at 4. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Innovative Industrial Properties, Inc.

(IIPR) is the more profitable company, earning 43. 0% net margin versus -12. 7% for NexPoint Residential Trust, Inc. — meaning it keeps 43. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: IIPR leads at 46. 7% versus 11. 1% for NXRT. At the gross margin level — before operating expenses — IIPR leads at 88. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, Camden Property Trust (CPT) is the more undervalued stock at a PEG of 2. 87x versus Equity Residential's 9. 36x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Innovative Industrial Properties, Inc. (IIPR) trades at 13. 5x forward P/E versus 67. 0x for Camden Property Trust — 53. 5x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for IIPR: 47. 8% to $84. 67.

All stocks in this comparison pay dividends.

Innovative Industrial Properties, Inc. (IIPR) offers the highest yield at 13. 3%, versus 4. 1% for Camden Property Trust (CPT).

For long-horizon retirement investors, Camden Property Trust (CPT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

32), 4. 1% yield). Both have compounded well over 10 years (CPT: +66. 4%, AAT: -22. 1%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: AAT is a small-cap income-oriented stock; NXRT is a small-cap income-oriented stock; IIPR is a small-cap deep-value stock; CPT is a mid-cap income-oriented stock; EQR is a mid-cap income-oriented stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.