First Industrial Realty Trust,

Valuation Analysis

About the Company

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 March 31, 2026. First Industrial Realty Trust, Inc. was established on August 10, 1993 and is based in Chicago, United States.

First Industrial Realty Trust, Stock at a Glance

First Industrial Realty Trust, (FR) is currently trading at $63.64 with a market capitalization of $8.7B. The trailing P/E ratio stands at 24.57x, with a forward P/E of 34.21x. The 52-week range spans from $47.36 to $64.66; the current price is 1.6% below the yearly high. Year-over-year revenue growth stands at +10.0%. The net profit margin stands at 45.95%.

💰 Dividend

First Industrial Realty Trust, pays an annual dividend of $1.89 per share, representing a yield of 2.97%. The payout ratio stands at 70.85%.

📊 Analyst Rating

16 analysts rate First Industrial Realty Trust, (FR) on consensus: Buy. The average price target is $67.88, implying +6.65% from the current price. Analyst price targets range from $61.00 to $83.00.

First Industrial Realty Trust, : The Investment Case in Detail

First Industrial Realty Trust, (FR) operates in the Real Estate — specifically REIT - Industrial — and is headquartered in United States. Below is a structured read of the investment case built directly from the latest fundamentals, valuation multiples, analyst positioning and smart-money flows. Each section translates raw numbers into the investment logic they imply, so you can decide whether the risk/reward fits your portfolio.

The Bull Case

Revenue is growing at a healthy 10% pace year-over-year, suggesting the business model continues to find new customers and pricing power. Earnings growth of 199.7% is outpacing revenue, a sign of operational leverage — fixed costs are being absorbed across a larger base. With a gross margin near 73.53%, the company sits in the top tier of its industry — these are the kinds of structural margins that protect earnings during downturns.

What to Watch Next

• The share is trading at 94.1% of its 52-week range — a break above the recent high opens technical upside, a failure here often invites profit-taking.

Investment Thesis: Strengths & Weaknesses

Technical Snapshot

Price trades above both the 50- and 200-day moving averages, with 50d above 200d — a classic bullish setup (golden-cross alignment).

Risk Profile

The data points to market-like volatility.

Trading Data

💵 Dividend Info

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