First Industrial Realty (FR – Research Report), the Real Estate sector company, was revisited by a Wall Street analyst yesterday. Analyst Ki Bin Kim from Truist Financial maintained a Buy rating on the stock and has a $57.00 price target.
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Ki Bin Kim has given his Buy rating due to a combination of factors that highlight First Industrial Realty’s strong financial performance and operational success. The company reported impressive quarterly results, with Funds From Operations per share (FFO/sh) exceeding expectations and surpassing both the consensus and the firm’s estimates for 2025. Notably, First Industrial Realty achieved a significant milestone in development leasing, securing a total of 1.4 million square feet, which far exceeded the budgeted amount.
Moreover, the company provided optimistic guidance for 2025 with a forecasted FFO/sh that indicates a positive outlook. Additionally, the company demonstrated robust growth in cash same-store net operating income (SSNOI) and occupancy rates, which further supports the analyst’s positive view. The commencement of new development projects in strategic locations also adds to the confidence in the company’s future growth prospects. These factors collectively justify the Buy rating given by Ki Bin Kim.