Head to Head Comparison: First Industrial Realty Trust (NYSE:FR) vs. Equity LifeStyle Properties (NYSE:ELS)

First Industrial Realty Trust (NYSE:FR) and Equity LifeStyle Properties (NYSE:ELS) are both finance companies, but which is the superior investment? We will compare the two businesses based on the strength of their risk, valuation, analyst recommendations, profitability, earnings, dividends and institutional ownership.

Profitability

This table compares First Industrial Realty Trust and Equity LifeStyle Properties’ net margins, return on equity and return on assets.

	Net Margins	Return on Equity	Return on Assets
First Industrial Realty Trust	42.94%	10.64%	5.51%
Equity LifeStyle Properties	24.05%	23.12%	6.51%

Risk and Volatility

First Industrial Realty Trust has a beta of 1.09, meaning that its stock price is 9% more volatile than the S&P 500. Comparatively, Equity LifeStyle Properties has a beta of 0.79, meaning that its stock price is 21% less volatile than the S&P 500.

Valuation and Earnings

This table compares First Industrial Realty Trust and Equity LifeStyle Properties”s revenue, earnings per share (EPS) and valuation.

	Gross Revenue	Price/Sales Ratio	Net Income	Earnings Per Share	Price/Earnings Ratio
First Industrial Realty Trust	$669.64 million	10.99	$274.82 million	$2.18	25.51
Equity LifeStyle Properties	$1.53 billion	8.20	$367.01 million	$1.95	33.57

Equity LifeStyle Properties has higher revenue and earnings than First Industrial Realty Trust. First Industrial Realty Trust is trading at a lower price-to-earnings ratio than Equity LifeStyle Properties, indicating that it is currently the more affordable of the two stocks.

Dividends

First Industrial Realty Trust pays an annual dividend of $1.48 per share and has a dividend yield of 2.7%. Equity LifeStyle Properties pays an annual dividend of $1.91 per share and has a dividend yield of 2.9%. First Industrial Realty Trust pays out 67.9% of its earnings in the form of a dividend. Equity LifeStyle Properties pays out 97.9% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. First Industrial Realty Trust has increased its dividend for 12 consecutive years and Equity LifeStyle Properties has increased its dividend for 21 consecutive years. Equity LifeStyle Properties is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.

Analyst Recommendations

This is a summary of current ratings for First Industrial Realty Trust and Equity LifeStyle Properties, as provided by MarketBeat.com.

	Sell Ratings	Hold Ratings	Buy Ratings	Strong Buy Ratings	Rating Score
First Industrial Realty Trust	1	6	7	0	2.43
Equity LifeStyle Properties	0	3	6	1	2.80

First Industrial Realty Trust currently has a consensus target price of $57.38, suggesting a potential upside of 3.21%. Equity LifeStyle Properties has a consensus target price of $73.78, suggesting a potential upside of 12.69%. Given Equity LifeStyle Properties’ stronger consensus rating and higher possible upside, analysts clearly believe Equity LifeStyle Properties is more favorable than First Industrial Realty Trust.

Insider and Institutional Ownership

99.9% of First Industrial Realty Trust shares are held by institutional investors. Comparatively, 97.2% of Equity LifeStyle Properties shares are held by institutional investors. 0.9% of First Industrial Realty Trust shares are held by company insiders. Comparatively, 1.4% of Equity LifeStyle Properties shares are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a company will outperform the market over the long term.

Summary

Equity LifeStyle Properties beats First Industrial Realty Trust on 11 of the 18 factors compared between the two stocks.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. Our portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. In total, we own and have under development approximately 68.5 million square feet of industrial space as of December 31, 2023.

About Equity LifeStyle Properties

Equity LifeStyle Properties, Inc. is a real estate investment trust, which engages in the ownership and operation of lifestyle-oriented properties consisting primarily of manufactured home, and recreational vehicle communities. It operates through the following segments: Property Operations and Home Sales and Rentals Operations. The Property Operations segment owns and operates land lease properties. The Home Sales and Rentals Operations segment purchases, sells, and leases homes. The company was founded by James M. Hankins in December 1992 and is headquartered in Chicago, IL.