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[Report] CompStak Portfolio Series: STAG Industrial vs. First Industrial Realty Trust
STAG Industrial vs. First Industrial Realty Trust — A CompStak Portfolio Scoring Comparison
As the first part of a new series, CompStak is evaluating and comparing the portfolios of two major industrial REITs: STAG Industrial and First Industrial Realty Trust, using CompStak’s data-driven scoring methodology to determine which portfolio performs better across key landlord-focused metrics.
STAG Industrial, Inc. (NYSE: STAG) focuses on acquiring and operating single-tenant industrial properties across the United States. As of year-end 2024, STAG owned approximately 590 single-tenant properties spanning 41 states, totaling more than 116 million square feet. STAG generally favors acquisitions over development, with limited build-to-suit activity.
First Industrial Realty Trust (NYSE: FR) is another publicly traded REIT with a strategic focus on logistics-oriented industrial properties. Its 70-million-square-foot portfolio (owned or under development) is heavily concentrated in 15 key U.S. markets, with an emphasis on supply-constrained coastal areas. Unlike STAG, First Industrial actively develops and acquires properties, often pursuing projects in partnership with other capital sources.
The contrast is clear: STAG’s broad, nationally distributed, single-tenant portfolio differs from First Industrial’s more targeted, market-focused approach. Both are regarded as leading players in the industrial REIT sector but with distinct strategies for value creation.