Comprehensive Stock Comparison
Compare First Industrial Realty Trust, Inc. (FR) vs STAG Industrial, Inc. (STAG) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | STAG | 10.1% revenue growth vs FR's 8.7% |
| Value | FR | Lower P/E (36.5x vs 38.5x), PEG 12.55 vs 18.92 |
| Quality / Margins | FR | 33.2% net margin vs STAG's 29.3% |
| Stability / Safety | STAG | Beta 0.66 vs FR's 0.78 |
| Dividends | FR | 2.3% yield, 13-year raise streak, vs STAG's 3.9% |
| Momentum (1Y) | FR | +13.7% vs STAG's +12.8% |
| Efficiency (ROA) | FR | 4.3% ROA vs STAG's 3.5%, ROIC 4.6% vs 0.1% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
First Industrial Realty Trust is a real estate investment trust that owns, operates, and develops industrial properties like warehouses and distribution centers across major U.S. markets. It generates revenue primarily through property leasing — collecting rent from tenants — with additional income from property sales and development activities. The company's competitive advantage lies in its strategic portfolio concentrated in high-demand logistics hubs and its integrated platform for development, leasing, and property management.
STAG Industrial is a real estate investment trust that acquires and operates single-tenant industrial properties across the United States. It generates revenue primarily through rental income from its portfolio of warehouses and distribution centers — with nearly all properties leased to single tenants on long-term, triple-net agreements. The company's competitive advantage lies in its specialized focus on secondary markets where it faces less competition and can achieve higher yields than in primary logistics hubs.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
STAG leads in 2 of 6 categories (Financial Metrics, Valuation Metrics). FR leads in 2 (Profitability & Efficiency, Total Returns). 2 tied.
Financial Metrics (TTM)
STAG and FR operate at a comparable scale, with $824M and $714M in trailing revenue. Profitability is closely matched — net margins range from 33.2% (FR) to 29.3% (STAG).
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| RevenueTrailing 12 months | $714M | $824M |
| EBITDAEarnings before interest/tax | $455M | $606M |
| Net IncomeAfter-tax profit | $237M | $241M |
| Free Cash FlowCash after capex | $437M | $425M |
| Gross MarginGross profit ÷ Revenue | +73.6% | +79.8% |
| Operating MarginEBIT ÷ Revenue | +36.9% | +37.3% |
| Net MarginNet income ÷ Revenue | +33.2% | +29.3% |
| FCF MarginFCF ÷ Revenue | +61.3% | +51.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.9% | +10.7% |
| EPS Growth (YoY)Latest quarter vs prior year | -34.7% | +13.0% |
Valuation Metrics
At 26.9x trailing earnings, STAG trades at a 8% valuation discount to FR's 29.1x P/E. Adjusting for growth (PEG ratio), FR offers better value at 10.00x vs STAG's 13.19x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| Market CapShares × price | $8.4B | $7.3B |
| Enterprise ValueMkt cap + debt − cash | $10.5B | $7.3B |
| Trailing P/EPrice ÷ TTM EPS | 29.10x | 26.86x |
| Forward P/EPrice ÷ next-FY EPS est. | 36.53x | 38.53x |
| PEG RatioP/E ÷ EPS growth rate | 10.00x | 13.19x |
| EV / EBITDAEnterprise value multiple | 22.24x | 23.77x |
| Price / SalesMarket cap ÷ Revenue | 12.44x | 8.67x |
| Price / BookPrice ÷ Book value/share | 3.04x | 2.00x |
| Price / FCFMarket cap ÷ FCF | 62.00x | 15.81x |
Profitability & Efficiency
FR delivers a 8.6% return on equity — every $100 of shareholder capital generates $9 in annual profit, vs $7 for STAG. On the Piotroski fundamental quality scale (0–9), FR scores 7/9 vs STAG's 5/9, reflecting strong financial health.
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| ROE (TTM)Return on equity | +8.6% | +6.9% |
| ROA (TTM)Return on assets | +4.3% | +3.5% |
| ROICReturn on invested capital | +4.6% | +0.1% |
| ROCEReturn on capital employed | +5.9% | +0.1% |
| Piotroski ScoreFundamental quality 0–9 | 7 | 5 |
| Debt / EquityFinancial leverage | 0.81x | — |
| Net DebtTotal debt minus cash | $2.2B | -$15M |
| Cash & Equiv.Liquid assets | $45M | $15M |
| Total DebtShort + long-term debt | $2.2B | $0 |
| Interest CoverageEBIT ÷ Interest expense | 3.59x | — |
Total Returns (with DRIP)
A $10,000 investment in FR five years ago would be worth $16,273 today (with dividends reinvested), compared to $14,464 for STAG. Over the past 12 months, FR leads with a +13.7% total return vs STAG's +12.8%. The 3-year compound annual growth rate (CAGR) favors STAG at 8.9% vs FR's 8.7% — a key indicator of consistent wealth creation.
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| YTD ReturnYear-to-date | +9.1% | +6.2% |
| 1-Year ReturnPast 12 months | +13.7% | +12.8% |
| 3-Year ReturnCumulative with dividends | +28.3% | +29.1% |
| 5-Year ReturnCumulative with dividends | +62.7% | +44.6% |
| 10-Year ReturnCumulative with dividends | +245.4% | +204.2% |
| CAGR (3Y)Annualised 3-year return | +8.7% | +8.9% |
Risk & Volatility
STAG is the less volatile stock with a 0.66 beta — it tends to amplify market swings less than FR's 0.78 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.78x | 0.66x |
| 52-Week HighHighest price in past year | $64.00 | $39.97 |
| 52-Week LowLowest price in past year | $40.31 | $28.61 |
| % of 52W HighCurrent price vs 52-week peak | +98.7% | +98.1% |
| RSI (14)Momentum oscillator 0–100 | 72.9 | 57.7 |
| Avg Volume (50D)Average daily shares traded | 885K | 1.3M |
Analyst Outlook
Wall Street rates FR as "Buy" and STAG as "Buy". Consensus price targets imply 14.7% upside for STAG (target: $45) vs 1.2% for FR (target: $64). For income investors, STAG offers the higher dividend yield at 3.87% vs FR's 2.31%.
| Metric | FRFirst Industrial … | STAGSTAG Industrial, … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $63.89 | $45.00 |
| # AnalystsCovering analysts | 29 | 21 |
| Dividend YieldAnnual dividend ÷ price | +2.3% | +3.9% |
| Dividend StreakConsecutive years of raises | 13 | 2 |
| Dividend / ShareAnnual DPS | $1.46 | $1.52 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| First Industrial Re… (FR) | 100 | 143.31 | +43.3% |
| STAG Industrial, In… (STAG) | 100 | 130.14 | +30.1% |
First Industrial Re… (FR) returned +63% over 5 years vs STAG Industrial, In… (STAG)'s +45%. A $10,000 investment in FR 5 years ago would be worth $16,273 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| First Industrial Re… (FR) | $378M | $672M | +77.8% |
| STAG Industrial, In… (STAG) | $250M | $845M | +237.7% |
STAG Industrial, Inc.'s revenue grew from $250M (2016) to $845M (2025) — a 14.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| First Industrial Re… (FR) | 32.1% | 42.7% | +33.3% |
| STAG Industrial, In… (STAG) | 13.8% | 32.3% | +134.5% |
STAG Industrial, Inc.'s net margin went from 14% (2016) to 32% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| First Industrial Re… (FR) | 18.6 | 23.1 | +24.2% |
| STAG Industrial, In… (STAG) | 118.8 | 25.2 | -78.8% |
First Industrial Realty Trust, Inc. has traded in a 18x–32x P/E range over 8 years; current trailing P/E is ~29x. STAG Industrial, Inc. has traded in a 24x–119x P/E range over 8 years; current trailing P/E is ~27x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| First Industrial Re… (FR) | 1.05 | 2.17 | +106.7% |
| STAG Industrial, In… (STAG) | 0.29 | 1.46 | +403.4% |
STAG Industrial, Inc.'s EPS grew from $0.29 (2016) to $1.46 (2025) — a 20% CAGR.
Chart 6Free Cash Flow — 5 Years
First Industrial Realty Trust, Inc. generated $135M FCF in 2024 (+298% vs 2021). STAG Industrial, Inc. generated $463M FCF in 2025 (+164% vs 2021).
FR vs STAG: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is FR or STAG a better buy right now?
STAG Industrial, Inc. (STAG) offers the better valuation at 26.9x trailing P/E (38.5x 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 STAG?
On trailing P/E, STAG Industrial, Inc. (STAG) is the cheapest at 26.9x versus First Industrial Realty Trust, Inc. at 29.1x. On forward P/E, First Industrial Realty Trust, Inc. is actually cheaper at 36.5x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: First Industrial Realty Trust, Inc. wins at 12.55x versus STAG Industrial, Inc.'s 18.92x.
03Which is the better long-term investment — FR or STAG?
Over the past 5 years, First Industrial Realty Trust, Inc. (FR) delivered a total return of +62.7%, compared to +44.6% for STAG Industrial, Inc. (STAG). A $10,000 investment in FR five years ago would be worth approximately $16K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FR returned +245.4% versus STAG's +204.2%. 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 STAG?
By beta (market sensitivity over 5 years), STAG Industrial, Inc. (STAG) is the lower-risk stock at 0.66β versus First Industrial Realty Trust, Inc.'s 0.78β — meaning FR is approximately 18% more volatile than STAG relative to the S&P 500.
05Which has better profit margins — FR or STAG?
First Industrial Realty Trust, Inc. (FR) is the more profitable company, earning 42.7% net margin versus 32.3% for STAG Industrial, Inc. — meaning it keeps 42.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FR leads at 44.3% versus 0.7% for STAG. At the gross margin level — before operating expenses — STAG leads at 79.8%, 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.
06Is FR or STAG more undervalued right now?
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, First Industrial Realty Trust, Inc. (FR) is the more undervalued stock at a PEG of 12.55x versus STAG Industrial, Inc.'s 18.92x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, First Industrial Realty Trust, Inc. (FR) trades at 36.5x forward P/E versus 38.5x for STAG Industrial, Inc. — 2.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for STAG: 14.7% to $45.00.
07Which pays a better dividend — FR or STAG?
All stocks in this comparison pay dividends. STAG Industrial, Inc. (STAG) offers the highest yield at 3.9%, versus 2.3% for First Industrial Realty Trust, Inc. (FR).
08Is FR or STAG better for a retirement portfolio?
For long-horizon retirement investors, STAG Industrial, Inc. (STAG) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.66), 3.9% yield, +204.2% 10Y return). Both have compounded well over 10 years (STAG: +204.2%, FR: +245.4%), 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.
09What are the main differences between FR and STAG?
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; STAG 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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