First Industrial Realty Completes $450M Senior Notes Offering

An update from First Industrial Realty ( (FR) ) is now available.

On May 14, 2025, First Industrial, L.P., a subsidiary of First Industrial Realty Trust, Inc., completed an underwritten public offering of $450 million in 5.250% Senior Notes due 2031. The Notes, fully guaranteed by the parent company, are senior unsecured obligations and are subject to various restrictive covenants. This financial move is expected to strengthen the company’s capital structure and support its strategic growth initiatives in the industrial real estate market.

The most recent analyst rating on (FR) stock is a Hold with a $50.00 price target. To see the full list of analyst forecasts on First Industrial Realty stock, see the FR Stock Forecast page.

Spark’s Take on FR Stock

According to Spark, TipRanks’ AI Analyst, FR is a Outperform.

First Industrial Realty shows a robust financial performance with strong profitability and cash flow management. While there are challenges such as increased debt and market uncertainties, the company’s strategic developments and secured financing boost its growth prospects. The stock’s valuation seems high, but the dividend yield provides some balance. Technical indicators suggest some caution due to potential overbought conditions.

To see Spark’s full report on FR stock, click here.

More about First Industrial Realty

First Industrial Realty Trust, Inc. operates in the real estate industry, primarily focusing on the acquisition, development, and management of industrial properties. The company targets the logistics and distribution sectors, providing facilities for warehousing and manufacturing purposes.

Average Trading Volume: 1,402,062

Technical Sentiment Signal: Hold

Current Market Cap: $7B

For a thorough assessment of FR stock, go to TipRanks’ Stock Analysis page.