REIT - Industrial
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FR vs LXP
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Industrial
FR vs LXP — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Industrial | REIT - Industrial |
| Market Cap | $8.18B | $3.05B |
| Revenue (TTM) | $744M | $347M |
| Net Income (TTM) | $342M | $94M |
| Gross Margin | 47.0% | -17.1% |
| Operating Margin | 38.3% | 14.5% |
| Forward P/E | 29.5x | 742.6x |
| Total Debt | $2.57B | $1.37B |
| Cash & Equiv. | $78M | $170M |
FR vs LXP — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| First Industrial Re… (FR) | 100 | 163.0 | +63.0% |
| LXP Industrial Trust (LXP) | 100 | 106.5 | +6.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FR vs LXP
Each card shows where this stock fits in a portfolio — not just who wins on paper.
FR carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 8.6%, EPS growth -13.8%, 3Y rev CAGR 10.4%
- 207.2% 10Y total return vs LXP's 74.2%
- 8.6% FFO/revenue growth vs LXP's -2.3%
LXP is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 5 yrs, beta 0.54, yield 5.4%
- Lower volatility, beta 0.54, Low D/E 66.9%, current ratio 85.31x
- Beta 0.54, yield 5.4%, current ratio 85.31x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 8.6% FFO/revenue growth vs LXP's -2.3% | |
| Value | Lower P/E (29.5x vs 742.6x) | |
| Quality / Margins | 46.0% margin vs LXP's 27.0% | |
| Stability / Safety | Beta 0.54 vs FR's 0.68, lower leverage | |
| Dividends | 2.8% yield, 14-year raise streak, vs LXP's 5.4% | |
| Momentum (1Y) | +35.3% vs FR's +30.1% | |
| Efficiency (ROA) | 6.1% ROA vs LXP's 2.6%, ROIC 4.5% vs 1.1% |
FR vs LXP — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FR vs LXP — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
FR leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
FR is the larger business by revenue, generating $744M annually — 2.1x LXP's $347M. FR is the more profitable business, keeping 46.0% of every revenue dollar as net income compared to LXP's 27.0%. On growth, FR holds the edge at +9.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $744M | $347M |
| EBITDAEarnings before interest/tax | $477M | $241M |
| Net IncomeAfter-tax profit | $342M | $94M |
| Free Cash FlowCash after capex | $483M | $162M |
| Gross MarginGross profit ÷ Revenue | +47.0% | -17.1% |
| Operating MarginEBIT ÷ Revenue | +38.3% | +14.5% |
| Net MarginNet income ÷ Revenue | +46.0% | +27.0% |
| FCF MarginFCF ÷ Revenue | +64.9% | +46.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.9% | -3.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +2.0% | -110.2% |
Valuation Metrics
LXP leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 28.4x trailing earnings, LXP trades at a 14% valuation discount to FR's 33.0x P/E. On an enterprise value basis, LXP's 17.3x EV/EBITDA is more attractive than FR's 21.7x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $8.2B | $3.1B |
| Enterprise ValueMkt cap + debt − cash | $10.7B | $4.3B |
| Trailing P/EPrice ÷ TTM EPS | 33.01x | 28.44x |
| Forward P/EPrice ÷ next-FY EPS est. | 29.49x | 742.61x |
| PEG RatioP/E ÷ EPS growth rate | 8.06x | — |
| EV / EBITDAEnterprise value multiple | 21.66x | 17.29x |
| Price / SalesMarket cap ÷ Revenue | 11.26x | 8.71x |
| Price / BookPrice ÷ Book value/share | 2.96x | 1.48x |
| Price / FCFMarket cap ÷ FCF | 71.23x | 18.63x |
Profitability & Efficiency
FR leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
FR delivers a 12.4% return on equity — every $100 of shareholder capital generates $12 in annual profit, vs $5 for LXP. LXP carries lower financial leverage with a 0.67x debt-to-equity ratio, signaling a more conservative balance sheet compared to FR's 0.93x. On the Piotroski fundamental quality scale (0–9), LXP scores 6/9 vs FR's 5/9, reflecting solid financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | +12.4% | +4.6% |
| ROA (TTM)Return on assets | +6.1% | +2.6% |
| ROICReturn on invested capital | +4.5% | +1.1% |
| ROCEReturn on capital employed | +6.1% | +1.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.93x | 0.67x |
| Net DebtTotal debt minus cash | $2.5B | $1.2B |
| Cash & Equiv.Liquid assets | $78M | $170M |
| Total DebtShort + long-term debt | $2.6B | $1.4B |
| Interest CoverageEBIT ÷ Interest expense | 4.27x | 3.00x |
Total Returns (Dividends Reinvested)
Evenly matched — FR and LXP each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in FR five years ago would be worth $14,230 today (with dividends reinvested), compared to $10,704 for LXP. Over the past 12 months, LXP leads with a +35.3% total return vs FR's +30.1%. The 3-year compound annual growth rate (CAGR) favors LXP at 7.3% vs FR's 6.9% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | +7.5% | +5.8% |
| 1-Year ReturnPast 12 months | +30.1% | +35.3% |
| 3-Year ReturnCumulative with dividends | +22.2% | +23.6% |
| 5-Year ReturnCumulative with dividends | +42.3% | +7.0% |
| 10-Year ReturnCumulative with dividends | +207.2% | +74.2% |
| CAGR (3Y)Annualised 3-year return | +6.9% | +7.3% |
Risk & Volatility
LXP leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
LXP is the less volatile stock with a 0.54 beta — it tends to amplify market swings less than FR's 0.68 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. LXP currently trades 98.6% from its 52-week high vs FR's 95.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.68x | 0.54x |
| 52-Week HighHighest price in past year | $64.62 | $52.52 |
| 52-Week LowLowest price in past year | $47.36 | $38.20 |
| % of 52W HighCurrent price vs 52-week peak | +95.5% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 48.6 | 54.5 |
| Avg Volume (50D)Average daily shares traded | 930K | 544K |
Analyst Outlook
Evenly matched — FR and LXP each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates FR as "Buy" and LXP as "Buy". Consensus price targets imply 5.3% upside for FR (target: $65) vs -1.5% for LXP (target: $51). For income investors, LXP offers the higher dividend yield at 5.42% vs FR's 2.83%.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $65.00 | $51.00 |
| # AnalystsCovering analysts | 29 | 15 |
| Dividend YieldAnnual dividend ÷ price | +2.8% | +5.4% |
| Dividend StreakConsecutive years of raises | 14 | 5 |
| Dividend / ShareAnnual DPS | $1.75 | $2.80 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | +0.1% |
FR leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). LXP leads in 2 (Valuation Metrics, Risk & Volatility). 2 tied.
FR vs LXP: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is FR or LXP a better buy right now?
For growth investors, First Industrial Realty Trust, Inc.
(FR) is the stronger pick with 8. 6% revenue growth year-over-year, versus -2. 3% for LXP Industrial Trust (LXP). LXP Industrial Trust (LXP) offers the better valuation at 28. 4x trailing P/E (742. 6x forward), making it the more compelling value choice. Analysts rate First Industrial Realty Trust, Inc. (FR) a "Buy" — based on 29 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.
02Which has the better valuation — FR or LXP?
On trailing P/E, LXP Industrial Trust (LXP) is the cheapest at 28.
4x versus First Industrial Realty Trust, Inc. at 33. 0x. On forward P/E, First Industrial Realty Trust, Inc. is actually cheaper at 29. 5x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — FR or LXP?
Over the past 5 years, First Industrial Realty Trust, Inc.
(FR) delivered a total return of +42. 3%, compared to +7. 0% for LXP Industrial Trust (LXP). Over 10 years, the gap is even starker: FR returned +207. 2% versus LXP's +74. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — FR or LXP?
By beta (market sensitivity over 5 years), LXP Industrial Trust (LXP) is the lower-risk stock at 0.
54β versus First Industrial Realty Trust, Inc. 's 0. 68β — meaning FR is approximately 25% more volatile than LXP relative to the S&P 500. On balance sheet safety, LXP Industrial Trust (LXP) carries a lower debt/equity ratio of 67% versus 93% for First Industrial Realty Trust, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — FR or LXP?
By revenue growth (latest reported year), First Industrial Realty Trust, Inc.
(FR) is pulling ahead at 8. 6% versus -2. 3% for LXP Industrial Trust (LXP). On earnings-per-share growth, the picture is similar: LXP Industrial Trust grew EPS 180. 0% year-over-year, compared to -13. 8% for First Industrial Realty Trust, Inc.. Over a 3-year CAGR, FR leads at 10. 4% 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.
06Which has better profit margins — FR or LXP?
First Industrial Realty Trust, Inc.
(FR) is the more profitable company, earning 34. 0% net margin versus 32. 3% for LXP Industrial Trust — meaning it keeps 34. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FR leads at 42. 3% versus 14. 0% for LXP. At the gross margin level — before operating expenses — FR leads at 22. 6%, 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.
07Is FR or LXP more undervalued right now?
On forward earnings alone, First Industrial Realty Trust, Inc.
(FR) trades at 29. 5x forward P/E versus 742. 6x for LXP Industrial Trust — 713. 1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FR: 5. 3% to $65. 00.
08Which pays a better dividend — FR or LXP?
All stocks in this comparison pay dividends.
LXP Industrial Trust (LXP) offers the highest yield at 5. 4%, versus 2. 8% for First Industrial Realty Trust, Inc. (FR).
09Is FR or LXP better for a retirement portfolio?
For long-horizon retirement investors, LXP Industrial Trust (LXP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
54), 5. 4% yield). Both have compounded well over 10 years (LXP: +74. 2%, FR: +207. 2%), 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.
10What are the main differences between FR and LXP?
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: FR is a small-cap quality compounder stock; LXP is a small-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.
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