First Industrial Realty (FR) vs Terreno Realty (TRNO)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 7, 2026.
Summary
First Industrial Realty (FR) has outperformed Terreno Realty (TRNO) over the past year, gaining 12.6% versus a gain of 9.0%. Over five years, FR leads with a +2.7% price change compared with -7.0% for TRNO. First Industrial Realty is the larger company by market cap ($7.97 billion vs $6.90 billion), about 1.2 times the size, while Terreno Realty is growing revenue faster (+24.5% vs +8.6%).
On valuation, First Industrial Realty trades at a lower forward P/E (30.9x vs 35.9x for Terreno Realty). Terreno Realty offers the higher dividend yield (3.28% vs 3.25%). Terreno Realty converts more of its revenue into profit, with a net margin of 84.6% versus 34.0%.
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 | FR | TRNO |
|---|---|---|
| Share price | $58.18 | $63.34 |
| Market cap | $7.97B | $6.90B |
| 1-day change | -1.82% | -1.39% |
| YTD return | +1.59% | +8.41% |
| 1-year return | +12.62% | +9.04% |
| 5-year return | +2.72% | -7.02% |
| P/E ratio (TTM) | 21.16 | 17.03 |
| Forward P/E | 30.86 | 35.89 |
| EPS (TTM) | $2.75 | $3.72 |
| Dividend yield | 3.25% | 3.28% |
| Annual dividend | $1.89 | $2.08 |
| Revenue (latest FY) | $727.08M | $476.38M |
| Revenue growth (YoY) | +8.58% | +24.51% |
| Net income (latest FY) | $247.44M | $402.99M |
| Net margin | 34.03% | 84.59% |
| 52-week high | $69.88 | $78.94 |
| 52-week low | $50.24 | $55.92 |
| Distance from 52-week high | -16.74% | -19.76% |
| Analyst consensus | buy | buy |
| Avg. price target upside | +24.18% | +17.02% |
| Average volume | 1.03M | 748.55K |
| Shares outstanding | 132.57M | 108.97M |
| Employees | 151 | 47 |
| Sector | Real Estate | Finance |
| Industry | Real Estate Investment Trusts | Real Estate |
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
- Terreno Realty is more profitable, keeping 84.6 cents of every revenue dollar as net income versus 34.0 cents for First Industrial Realty.
- Terreno Realty grew revenue faster in its latest fiscal year (+24.51% vs +8.58%).
- The two companies sit in different sectors: First Industrial Realty in Real Estate and Terreno Realty in Finance.
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
About Terreno Realty
TRNO stock →Terreno Realty Corporation an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets.
Finance · Real Estate · 47 employees
FR vs TRNO FAQ
Which is bigger, First Industrial Realty or Terreno Realty?
First Industrial Realty (FR) is larger, with a market capitalization of $7.97B compared with $6.90B for Terreno Realty (TRNO).
Which stock has performed better over the past year, FR or TRNO?
FR returned +12.62% over the past 12 months, compared with +9.04% for TRNO (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FR or TRNO?
TRNO has the lower trailing P/E at 17.0, versus 21.2 for FR. 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, First Industrial Realty or Terreno Realty?
Terreno Realty has the higher yield at 3.28%, compared with 3.25% for First Industrial Realty.
Are First Industrial Realty and Terreno Realty in the same industry?
No. First Industrial Realty is in the Real Estate sector, while Terreno Realty is in Finance.