Compare Rexford Industrial Realty, Inc. (REXR) vs First Industrial Realty Trust, Inc. (FR) Stock

First Industrial Realty Trust, Inc. (FR) offers the better valuation at 29.1x trailing P/E (36.5x 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.

On trailing P/E, First Industrial Realty Trust, Inc. (FR) is the cheapest at 29.1x versus Rexford Industrial Realty, Inc. at 31.2x. On forward P/E, Rexford Industrial Realty, Inc. is actually cheaper at 33.5x — 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: Rexford Industrial Realty, Inc. wins at 1.62x versus First Industrial Realty Trust, Inc.'s 12.55x — a reasonable growth-adjusted valuation.

Over the past 5 years, First Industrial Realty Trust, Inc. (FR) delivered a total return of +62.7%, compared to -7.4% for Rexford Industrial Realty, Inc. (REXR). 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 REXR's +184.6%. 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), First Industrial Realty Trust, Inc. (FR) is the lower-risk stock at 0.78β versus Rexford Industrial Realty, Inc.'s 0.89β — meaning REXR is approximately 14% more volatile than FR relative to the S&P 500. On balance sheet safety, Rexford Industrial Realty, Inc. (REXR) carries a lower debt/equity ratio of 38% versus 81% for First Industrial Realty Trust, Inc. — giving it more financial flexibility in a downturn.

First Industrial Realty Trust, Inc. (FR) is the more profitable company, earning 42.7% net margin versus 29.2% for Rexford Industrial Realty, Inc. — meaning it keeps 42.7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: REXR leads at 68.8% versus 44.3% for FR. At the gross margin level — before operating expenses — REXR leads at 77.5%, 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, Rexford Industrial Realty, Inc. (REXR) is the more undervalued stock at a PEG of 1.62x versus First Industrial Realty Trust, Inc.'s 12.55x. Both stocks trade at elevated growth-adjusted valuations, so expected growth needs to materialise. On forward earnings alone, Rexford Industrial Realty, Inc. (REXR) trades at 33.5x forward P/E versus 36.5x for First Industrial Realty Trust, Inc. — 3.1x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for REXR: 14.2% to $42.80.

All stocks in this comparison pay dividends. First Industrial Realty Trust, Inc. (FR) offers the highest yield at 2.3%, versus 0.1% for Rexford Industrial Realty, Inc. (REXR).

For long-horizon retirement investors, First Industrial Realty Trust, Inc. (FR) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.78), 2.3% yield, +245.4% 10Y return). Both have compounded well over 10 years (FR: +245.4%, REXR: +184.6%), 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. FR pays a dividend while REXR does not, making them suitable for different income and tax situations. 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.