FR vs PLD: Which Is the Better Dividend Stock?
As of September 2026, FR (First Industrial Realty Trust, Inc.) screens as the stronger dividend stock, winning 4 of 7 head-to-head metrics. FR offers the higher yield at 3.24%, PLD has the higher dividend-safety score, and PLD trades at the larger discount to fair value (-51%).
| Metric | FR | PLD |
|---|---|---|
| Forward yield | 3.24% | 3.17% |
| Annual dividend | $2.00 | $4.28 |
| Payout ratio | 69% | 93% |
| Years of growth | 12 yr | 12 yr |
| 5-yr dividend growth | 12.2% | 11.7% |
| 5-yr total return | 6% | -7% |
| Dividend safety score | 75 (B) | 78 (B) |
| Fair value estimate | $28.63 | $66.27 |
| Upside to fair value | -54% | -51% |
| Frequency | quarterly | quarterly |
| Market cap | $8.5B | $132.0B |
| P/E ratio | 22.5 | 30.2 |
Higher yield
FR
3.24%
Safer dividend
PLD
Grade B
Faster growth
FR
12.2%
Better value
PLD
-51% upside
FR vs PLD — FAQ
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