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FR Stock Chart & Stats
$63.75
-$0.18(-0.36%)
At close: 4:00 PM EST
$63.75
-$0.18(-0.36%)
Day’s Range― - ―
52-Week Range$47.38 - $69.88
Previous CloseN/A
Volume100.82K
Average Volume (3M)1.14M
Market Cap
$9.43B
Enterprise Value$10.31K
Total Cash (Recent Filing)$37.15M
Total Debt (Recent Filing)$2.58B
Price to Earnings (P/E)26.3
Beta0.56
Next Earnings
Jul 22, 2026EPS Estimate
0.44Next Dividend Ex-DateN/A
Dividend Yield2.77%
Share Statistics
EPS (TTM)2.59
Shares Outstanding132,570,420
10 Day Avg. Volume944,135
30 Day Avg. Volume1,139,588
Financial Highlights & Ratios
PEG Ratio-2.22
Price to Book (P/B)2.84
Price to Sales (P/S)10.43
P/FCF Ratio66.03
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$68.91Price Target Upside8.09% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)2.4
Revenue Forecast (FY)$793.33M
Bulls Say, Bears Say
Bulls Say
Revenue Growth TrendFirst Industrial shows a multi-year revenue uptrend, with reported revenues rising from $476M in 2021 to $727M in 2025 and $744M TTM. For a lease-driven REIT this indicates durable demand, steady rental roll, and recurring cash inflows that underpin long-term cash returns and development optionality.
Consistent Operating Cash GenerationOperating cash flow has increased materially over the period, supporting distributions, development capex, and opportunistic buybacks. Persistent positive OCF provides structural ability to fund growth internally and absorb cyclical headwinds, even if free-cash conversion has been uneven historically.
Strong Leasing Momentum & Rent GrowthQ1 cash same-store NOI rose 8.7%, with new/renewal leases showing roughly 41% cash rent spread and 94.3% occupancy. Durable leasing strength and outsized re-leasing spreads support structural NOI expansion, underpin development returns and improve long-term margin sustainability for the industrial portfolio.
Bears Say
Historical Leverage And Reporting DiscontinuityLeverage was meaningful historically, with debt-to-equity near 0.75–0.96 across annual periods, which creates refinancing and rate-sensitivity risk. The abrupt TTM reporting of zero debt is a sharp discontinuity that may reflect timing/classification rather than a durable de-risking, so refinancing exposure remains a structural concern.
Free Cash Flow VolatilityFree cash flow has been choppy, including negative years and a relatively low conversion in 2025 (~25% of net income), driven by development timing and capital recycling. Persistent FCF volatility can strain funding for development, dividends or buybacks without resorting to external financing in tougher markets.
Leasing Headwinds & Sale Reduces Recurring NOIManagement noted slower decision-making among very large tenants and modestly higher concessions in some markets, which can lengthen vacancy cycles for big-box spaces. Additionally, the $131M Phoenix land sale removes future recurring NOI from the portfolio, mildly diluting normalized FFO despite providing cash for balance sheet actions.
FR FAQ
What was First Industrial Realty Trust’s price range in the past 12 months?
First Industrial Realty Trust lowest stock price was $47.38 and its highest was $69.88 in the past 12 months.
What is First Industrial Realty Trust’s market cap?
First Industrial Realty Trust’s market cap is $9.43B.
When is First Industrial Realty Trust’s upcoming earnings report date?
First Industrial Realty Trust’s upcoming earnings report date is Jul 22, 2026 which is tomorrow.
How were First Industrial Realty Trust’s earnings last quarter?
First Industrial Realty Trust released its earnings results on Apr 22, 2026. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.329 by $0.751.
Is First Industrial Realty Trust overvalued?
According to Wall Street analysts First Industrial Realty Trust’s price is currently Undervalued.
Does First Industrial Realty Trust pay dividends?
First Industrial Realty Trust pays a Quarterly dividend of $0.5 which represents an annual dividend yield of 2.77%. See more information on First Industrial Realty Trust dividends here
What is First Industrial Realty Trust’s EPS estimate?
First Industrial Realty Trust’s EPS estimate is 0.44.
How many shares outstanding does First Industrial Realty Trust have?
First Industrial Realty Trust has 132,570,420 shares outstanding.
What happened to First Industrial Realty Trust’s price movement after its last earnings report?
First Industrial Realty Trust reported an EPS of $1.08 in its last earnings report, beating expectations of $0.329. Following the earnings report the stock price went down -0.789%.
Which hedge fund is a major shareholder of First Industrial Realty Trust?
Currently, no hedge funds are holding shares in FR
What is the TipRanks Smart Score and how is it calculated?
Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology
First Industrial Realty Stock Smart Score
Outperform
1
2
3
4
5
6
7
8
9
10
Analyst Consensus
Moderate Buy
Average Price Target:
$68.91 (8.09% Upside)
$68.91 (8.09% Upside)
Blogger Sentiment
Bullish
FR Sentiment 100%
Sector Average 62%
Sector Average 62%
Hedge Fund Trend
Increased
By 709.8K Shares
Last Quarter.
Last Quarter.
News Sentiment
Very Bullish
Bullish news 100%
Bearish news 0%
Bearish news 0%
Technicals
SMA
Positive
20 days / 200 days
Momentum
13.63%
12-Months-Change
Fundamentals
Return on Equity
2.77%
Trailing 12-Months
Asset Growth
5.95%
Trailing 12-Months
Company Description
First Industrial Realty Trust
First Industrial Realty Trust, Inc. is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains. In total, we own and have under development approximately 71.6 million square feet of industrial space concentrated in 15 target MSAs as of December 31, 2025. First Industrial Realty Trust, Inc. was incorporated in 1993 in Maryland, USA,
FR Stock 12 Month Forecast
Average Price Target
$68.91
▲(8.09% Upside)
Technical Analysis
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Ownership Overview
0.21% Insiders
26.57% Mutual Funds
0.10% Other Institutional Investors
43.92% Public Companies and
Individual Investors








