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Upturn AI Summary - About
First Industrial Realty Trust Inc(FR)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for FR
10/28/2026: FR (3-star) is currently NOT-A-BUY. Pass it for now.
First Industrial Realty Trust is a specialized REIT that develops and manages a portfolio of high-quality industrial and logistics properties across the United States. Its primary strength lies in a modern asset base and a consistent development strategy that targets high-growth supply chain hubs. The company's investment story is driven by the structural demand for efficient warehousing necessitated by e-commerce expansion. Key risks include exposure to interest rate fluctuations and potential oversupply in some regional industrial markets. It is well-suited for income-oriented investors seeking REIT exposure, and those interested in monitoring should focus on rental rate growth and development pipeline execution.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | Offers steady growth through development, but is limited by the cyclical nature of real estate. |
| Momentum investor | Weak fit | Real estate stocks often move based on interest rate cycles rather than rapid momentum signals. |
| Value investor | Mixed fit | Valuation depends heavily on NAV (Net Asset Value) estimates and market capitalization rates. |
| Dividend investor | Strong fit | Provides a consistent, taxable dividend stream typical of REIT structures. |
| Low-risk investor | Medium | Exposure to real estate carries moderate risks including vacancy and interest rate sensitivity. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | Medium | Real estate stocks can fluctuate based on interest rate expectations and economic news. |
| Valuation risk | Medium | Trading at a significant premium to NAV can present downside risk if cap rates expand. |
| Competition risk | Medium | Intense competition for land and tenants in top logistics hubs keeps margins compressed. |
| Business quality | Strong | The high-quality, modern nature of the portfolio provides stable, long-term cash flow potential. |
| Dividend income | Low | The dividend is generally well-covered by recurring FFO. |
| Execution risk | Medium | Successful development projects rely on managing construction timelines and costs effectively. |
Price Behavior
Rolling Over
The price momentum is slowing down and beginning to turn downward.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit 34.94% | Avg. Invested days 72 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  4.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/28/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 7.56B USD | Price to earnings Ratio 20.43 | 1Y Target Price 68.44 |
Price to earnings Ratio 20.43 | 1Y Target Price 68.44 | ||
Volume (30-day avg) 1.6M shares | Beta 1.04 | 52 Weeks Range 52.49 - 69.31 | Updated Date 10/28/2026 |
52 Weeks Range 52.49 - 69.31 | Updated Date 10/28/2026 | ||
Dividends yield (FY) 3.52% | Basic EPS (TTM) 2.7 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Rental Revenue | Lease payments from tenants across the industrial portfolio. | This is the core, stable income source generated by collecting rent. |
| Property Development | Profits from the development and subsequent leasing or sale of properties. | This drives growth by adding new, modern, and high-yielding assets. |
Earnings Date
Report Date 2026-10-21 | When After Market | Estimate 0.82 | Actual 0.81 |
Profitability
Profit Margin 46.09% | Operating Margin (TTM) 44.22% |
Management Effectiveness
Return on Assets (TTM) 3.55% | Return on Equity (TTM) 13.37% |
Valuation
Trailing PE 20.43 | Forward PE 36.76 | Enterprise Value 9.93B | Price to Sales(TTM) 9.74 |
Enterprise Value 9.93B | Price to Sales(TTM) 9.74 | ||
Enterprise Value to Revenue 12.81 | Enterprise Value to EBITDA 15.04 | Shares Outstanding 132.57M | Shares Floating 131.70M |
Shares Outstanding 132.57M | Shares Floating 131.70M | ||
Percent Insiders 0.35 | Percent Institutions 103.5 |
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
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