Comparing First Industrial Realty Trust (FR) and Blackstone Mortgage Trust (BXMT)

First Industrial Realty Trust (NYSE:FR) and Blackstone Mortgage Trust (NYSE:BXMT) are both mid-cap finance companies, but which is the superior business? We will contrast the two companies based on the strength of their dividends, profitability, risk, valuation, institutional ownership, analyst recommendations and earnings.

Analyst Ratings

This is a summary of current recommendations and price targets for First Industrial Realty Trust and Blackstone Mortgage Trust, as reported by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
First Industrial Realty Trust 0 4 2 0 2.33
Blackstone Mortgage Trust 0 4 1 0 2.20

First Industrial Realty Trust currently has a consensus target price of $29.13, indicating a potential downside of 16.14%. Blackstone Mortgage Trust has a consensus target price of $34.17, indicating a potential downside of 4.51%. Given Blackstone Mortgage Trust’s higher possible upside, analysts plainly believe Blackstone Mortgage Trust is more favorable than First Industrial Realty Trust.

Earnings & Valuation

This table compares First Industrial Realty Trust and Blackstone Mortgage Trust’s revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
First Industrial Realty Trust $403.95 million 10.88 $163.23 million $1.60 21.71
Blackstone Mortgage Trust $396.48 million 11.34 $285.07 million $2.65 13.50

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

Profitability

This table compares First Industrial Realty Trust and Blackstone Mortgage Trust’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
First Industrial Realty Trust 36.88% 9.05% 4.80%
Blackstone Mortgage Trust 48.22% 9.73% 2.37%

Insider & Institutional Ownership

92.7% of First Industrial Realty Trust shares are held by institutional investors. Comparatively, 60.8% of Blackstone Mortgage Trust shares are held by institutional investors. 1.2% of First Industrial Realty Trust shares are held by company insiders. Comparatively, 1.0% of Blackstone Mortgage Trust shares are held by company insiders. Strong institutional ownership is an indication that hedge funds, endowments and large money managers believe a stock will outperform the market over the long term.

Dividends

First Industrial Realty Trust pays an annual dividend of $0.92 per share and has a dividend yield of 2.6%. Blackstone Mortgage Trust pays an annual dividend of $2.48 per share and has a dividend yield of 6.9%. First Industrial Realty Trust pays out 57.5% of its earnings in the form of a dividend. Blackstone Mortgage Trust pays out 93.6% 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 5 consecutive years.

Risk & Volatility

First Industrial Realty Trust has a beta of 0.74, suggesting that its stock price is 26% less volatile than the S&P 500. Comparatively, Blackstone Mortgage Trust has a beta of 0.57, suggesting that its stock price is 43% less volatile than the S&P 500.

Summary

First Industrial Realty Trust beats Blackstone Mortgage Trust on 10 of the 17 factors compared between the two stocks.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 65.9 million square feet of industrial space as of December 31, 2018.

About Blackstone Mortgage Trust

Blackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans collateralized by properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was founded in 1966 and is headquartered in New York, New York.

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