FR

First Industrial Realty Trust, Inc.

Fundamental data last updated:September 12, 2026

We may earn a commission from partner links. This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate.

company profile

SECTOR

Real Estate

industry

REIT - Industrial

Exchange

NYSE

County of HQ

US

Next Earnings Date

Pending Announcement

Business Summary

First Industrial Realty Trust, Inc. (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types. In total, we own and have under development approximately 64.1 million square feet of industrial space as of September 30, 2020.

 


Analyze FR on TradingView

VALUATION

P/E

23.94

Market Cap ($M USD)

$8.20B

Forward P/E

27.74

PEG

-2.02

PRICE TO SALES

11.02

PRICE TO BOOK

2.97

EV / EBITDA

12.44

5-Year Average P/E

Free Cash Flow Yield

5.89%

DCF Value

$17.64

Graham Number

$34.80

Price to FCF

16.98

EV to FCF

16.91

Earnings Yield

4.18%

FCF Yield

5.89%

DIVIDEND

Yield

2.97%

Annual Payout

$1.84

Payout Ratio

85.17%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

$2.58

Next Year EPS Growth Estimate

$2.23

Next Year Revenue Growth Estimate

$1.10B

Return on Equity (ROE)

12.77%

FREE CASH FLOW

Operating Margin

38.28%

Debt-to-Equity

0.96

Piotroski F-Score

6

Altman Z-Score

2.24

Return on Invested Capital (ROIC)

4.94%

Current Ratio

0.00

Quick Ratio

0.00

Net Debt to EBITDA

-0.06

Interest Coverage

3.05

Gross Profit margin

47.03%

FCF PER SHARE

$3.65

REVENUE PER SHARE

$5.62

Analyze FR on TradingView

Gainseekers Quantitative Analysis

Summary

The market seems to be mispricing First Industrial Realty Trust, Inc. relative to its intrinsic value. With a DCF value significantly below the snapshot price, the stock appears overvalued. The Forward P/E of 26.82 suggests a premium valuation, while the Earnings Yield of 4.12% indicates modest returns. The Altman Z-score of 2.23 raises concerns about financial distress, hinting at potential vulnerabilities despite a solid operating margin of 38.28%.

AI Exposure / Tech Reliance

Operating in the industrial REIT sector, First Industrial Realty Trust is strategically positioned to capitalize on the growing demand for logistics and warehousing driven by AI and tech advancements. As e-commerce and automation reshape supply chains, the company stands to benefit from increased demand for industrial spaces. Its focus on modern facilities aligns well with tech-driven shifts.

The Bull Case

For the discerning GARP investor, First Industrial Realty Trust offers compelling strengths. The ROIC of 4.94% and a Piotroski F-Score of 6 reflect efficient capital allocation and operational health. With a Free Cash Flow Yield of 5.81%, the company demonstrates robust cash generation capabilities. Its strong operating margin underscores pricing power, making it an attractive play for those seeking growth at a reasonable price.

The Bear Case

However, the stock is not without its risks. The Price/Book ratio of 3.01 and Price/Sales ratio of 11.17 indicate a potentially overextended valuation. Trading near its 52-week high, it may be technically overbought. The low Graham Number further suggests limited margin of safety, and the high payout ratio of 85.17% could constrain future dividend growth.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$65.13

Institutional Ownership %

1-Year Beta

1.09

Insider Buying % (6 Mo)

Distance to 52-Week High

4.51%

Distance to 52-Week Low

23.45%

EARNINGS SURPRISE %

103.84%

50-DAY SMA

$61.06

200-DAY SMA

$57.38

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.