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First Industrial Realty Trust Inc (FR)



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Upturn Advisory Summary
08/14/2025: FR (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $55.93
1 Year Target Price $55.93
6 | Strong Buy |
3 | Buy |
9 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 2.36% | Avg. Invested days 43 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.62B USD | Price to earnings Ratio 23.67 | 1Y Target Price 55.93 |
Price to earnings Ratio 23.67 | 1Y Target Price 55.93 | ||
Volume (30-day avg) 18 | Beta 1.05 | 52 Weeks Range 39.94 - 57.16 | Updated Date 08/14/2025 |
52 Weeks Range 39.94 - 57.16 | Updated Date 08/14/2025 | ||
Dividends yield (FY) 3.33% | Basic EPS (TTM) 2.05 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 38.7% | Operating Margin (TTM) 43.72% |
Management Effectiveness
Return on Assets (TTM) 3.41% | Return on Equity (TTM) 10.43% |
Valuation
Trailing PE 23.67 | Forward PE 36.76 | Enterprise Value 8865649100 | Price to Sales(TTM) 9.45 |
Enterprise Value 8865649100 | Price to Sales(TTM) 9.45 | ||
Enterprise Value to Revenue 12.66 | Enterprise Value to EBITDA 15.94 | Shares Outstanding 132405000 | Shares Floating 131564228 |
Shares Outstanding 132405000 | Shares Floating 131564228 | ||
Percent Insiders 0.43 | Percent Institutions 100.47 |
Upturn AI SWOT
First Industrial Realty Trust Inc

Company Overview
History and Background
First Industrial Realty Trust, Inc. was founded in 1993. It is a leading owner, operator, and developer of industrial real estate. The company focuses on providing supply chain solutions to a diverse customer base.
Core Business Areas
- Ownership and Operation: Owning, managing, and leasing industrial properties, including logistics facilities, light industrial properties, and manufacturing plants.
- Development: Developing new industrial properties to meet market demand and customer-specific requirements.
- Acquisition: Acquiring existing industrial properties to expand their portfolio and geographic footprint.
Leadership and Structure
The leadership team includes Peter E. Baccile (President and CEO). The company operates with a typical REIT structure, including a board of trustees and various executive management roles.
Top Products and Market Share
Key Offerings
- Industrial Properties: Leasing industrial space to tenants involved in logistics, e-commerce, manufacturing, and other industries. Market share information is part of the entire logistics REIT, and it is difficult to define one exact share. Competitors are Prologis, Duke Realty (now Prologis) and Rexford.
- Development Services: Providing build-to-suit and other development services for companies needing custom industrial facilities. Revenue data is not broken out separately. Competitors are Prologis, Duke Realty (now Prologis) and Rexford.
Market Dynamics
Industry Overview
The industrial real estate market is driven by e-commerce growth, supply chain modernization, and reshoring trends. Demand for warehouse and distribution space is strong, particularly in key logistics hubs.
Positioning
First Industrial Realty Trust is a well-established player in the industrial REIT space, with a focus on quality assets in strategic locations. Its competitive advantages include a strong balance sheet, experienced management team, and a proven track record of development and acquisitions.
Total Addressable Market (TAM)
The TAM for industrial real estate is estimated to be several trillions of dollars globally, with significant growth expected in the coming years. First Industrial is positioned to capture a portion of this market through strategic acquisitions, development, and leasing activities.
Upturn SWOT Analysis
Strengths
- Strong Balance Sheet
- Experienced Management Team
- Strategic Portfolio Locations
- Proven Development Capabilities
Weaknesses
- Concentration in Certain Markets
- Exposure to Economic Downturns
- Dependence on Key Tenants
- Sensitivity to Interest Rate Changes
Opportunities
- E-Commerce Growth
- Supply Chain Modernization
- Reshoring Trends
- Acquisition Opportunities
Threats
- Economic Recession
- Increased Competition
- Rising Interest Rates
- Oversupply of Industrial Space
Competitors and Market Share
Key Competitors
- PLD
- EQIX
- REX
Competitive Landscape
First Industrial Realty Trust competes with other large industrial REITs for tenants and acquisitions. Its advantages include a strong reputation and a well-located portfolio. Disadvantages include smaller size and less diversification compared to the largest players.
Major Acquisitions
KTR Capital Partners Portfolio
- Year: 2015
- Acquisition Price (USD millions): 590
- Strategic Rationale: Expanded First Industrial's footprint in key industrial markets.
Growth Trajectory and Initiatives
Historical Growth: First Industrial Realty Trust has grown through acquisitions, development, and organic leasing of its properties.
Future Projections: Future growth is expected to be driven by continued demand for industrial space and strategic capital allocation.
Recent Initiatives: Recent initiatives include developing new industrial properties and expanding its presence in key markets.
Summary
First Industrial Realty Trust is a solid industrial REIT with a strong portfolio and experienced management. They benefit from the positive trends in e-commerce and supply chain modernization. Rising interest rates and potential economic downturns pose risks. They will need to focus on tenant retention and cost management to continue its growth trajectory.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings
- Analyst Reports
- Industry Publications
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Industrial Realty Trust Inc
Exchange NYSE | Headquaters Chicago, IL, United States | ||
IPO Launch date 1994-06-23 | President, CEO & Director Mr. Peter E. Baccile | ||
Sector Real Estate | Industry REIT - Industrial | Full time employees 151 | Website https://www.firstindustrial.com |
Full time employees 151 | Website https://www.firstindustrial.com |
First Industrial Realty Trust, Inc. (NYSE: FR) 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. Our portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. In total, we own and have under development approximately 70.5 million square feet of industrial space as of June 30, 2025.

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