Agree Realty (ADC) vs First Industrial Realty (FR)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
First Industrial Realty (FR) has outperformed Agree Realty (ADC) over the past year, gaining 12.6% versus a loss of 7.5%. Over five years, FR leads with a +2.7% price change compared with -6.2% for ADC. Agree Realty is the larger company by market cap ($8.21 billion vs $8.08 billion), about 1.0 times the size.
On valuation, First Industrial Realty trades at a lower forward P/E (31.3x vs 34.4x for Agree Realty). Agree Realty offers the higher dividend yield (4.77% vs 3.21%). First Industrial Realty converts more of its revenue into profit, with a net margin of 34.0% versus 28.4%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ADC | FR |
|---|---|---|
| Share price | $65.82 | $58.95 |
| Market cap | $8.21B | $8.08B |
| 1-day change | +1.01% | +1.32% |
| YTD return | -9.54% | +1.59% |
| 1-year return | -7.52% | +12.62% |
| 5-year return | -6.16% | +2.72% |
| P/E ratio (TTM) | 35.38 | 21.44 |
| Forward P/E | 34.40 | 31.27 |
| EPS (TTM) | $1.86 | $2.75 |
| Dividend yield | 4.77% | 3.21% |
| Annual dividend | $3.14 | $1.89 |
| Revenue (latest FY) | $718.40M | $727.08M |
| Revenue growth (YoY) | +16.42% | +8.58% |
| Net income (latest FY) | $204.35M | $247.44M |
| Operating margin | 47.38% | — |
| Net margin | 28.45% | 34.03% |
| 52-week high | $82.08 | $69.88 |
| 52-week low | $64.43 | $50.24 |
| Distance from 52-week high | -19.82% | -15.64% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +25.94% | +22.56% |
| Average volume | 1.48M | 1.03M |
| Shares outstanding | 124.38M | 132.57M |
| Employees | 90 | 151 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- FR has outperformed ADC by 20.1 percentage points over the past year.
- Agree Realty trades at a higher earnings multiple (35.4x vs 21.4x trailing P/E).
- Agree Realty offers a meaningfully higher dividend yield (4.77% vs 3.21%).
- First Industrial Realty is more profitable, keeping 34.0 cents of every revenue dollar as net income versus 28.4 cents for Agree Realty.
- Agree Realty grew revenue faster in its latest fiscal year (+16.42% vs +8.58%).
About Agree Realty
ADC stock →Agree Realty Corporation is a publicly traded real estate investment trust. The Firm is Rethinking Retail through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants.
Real Estate · Real Estate Investment Trusts · 90 employees
About First Industrial Realty
FR stock →First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer and acquirer of logistics properties.
Real Estate · Real Estate Investment Trusts · 151 employees
ADC vs FR FAQ
Which is bigger, Agree Realty or First Industrial Realty?
Agree Realty (ADC) is larger, with a market capitalization of $8.21B compared with $8.08B for First Industrial Realty (FR).
Which stock has performed better over the past year, ADC or FR?
FR returned +12.62% over the past 12 months, compared with -7.52% for ADC (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ADC or FR?
FR has the lower trailing P/E at 21.4, versus 35.4 for ADC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Agree Realty or First Industrial Realty?
Agree Realty has the higher yield at 4.77%, compared with 3.21% for First Industrial Realty.
Are Agree Realty and First Industrial Realty in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.