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First Industrial Realty Trust Inc (FR)



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Upturn Advisory Summary
06/27/2025: FR (3-star) is currently NOT-A-BUY. Pass it for now.
Year Target Price $54.94
Year Target Price $54.94
6 | Strong Buy |
3 | Buy |
9 | Hold |
0 | Under performing |
0 | Sell |
Analysis of Past Performance
Type Stock | Historic Profit 7.4% | Avg. Invested days 49 | 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 6.68B USD | Price to earnings Ratio 24.35 | 1Y Target Price 55 |
Price to earnings Ratio 24.35 | 1Y Target Price 55 | ||
Volume (30-day avg) - | Beta 1.1 | 52 Weeks Range 40.31 - 57.68 | Updated Date 06/29/2025 |
52 Weeks Range 40.31 - 57.68 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 3.64% | Basic EPS (TTM) 2.01 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 38.96% | Operating Margin (TTM) 38.97% |
Management Effectiveness
Return on Assets (TTM) 3.31% | Return on Equity (TTM) 10.28% |
Valuation
Trailing PE 24.35 | Forward PE 36.76 | Enterprise Value 8843117229 | Price to Sales(TTM) 9.74 |
Enterprise Value 8843117229 | Price to Sales(TTM) 9.74 | ||
Enterprise Value to Revenue 12.92 | Enterprise Value to EBITDA 16.15 | Shares Outstanding 132401000 | Shares Floating 131557325 |
Shares Outstanding 132401000 | Shares Floating 131557325 | ||
Percent Insiders 0.43 | Percent Institutions 96.38 |
Analyst Ratings
Rating 3.83 | Target Price 54.94 | Buy 3 | Strong Buy 6 |
Buy 3 | Strong Buy 6 | ||
Hold 9 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
First Industrial Realty Trust Inc

Company Overview
History and Background
First Industrial Realty Trust Inc. was founded in 1993, specializing in industrial real estate. Initially focused on acquiring and managing industrial properties, it has grown through strategic acquisitions, developments, and property management to become a leading REIT.
Core Business Areas
- Ownership, Management and Development of Industrial Properties: First Industrial owns, manages, acquires, sells, and develops industrial properties. They lease space to a diverse base of customers. This segment generates the majority of the company's revenue.
Leadership and Structure
Hamid R. Moghadam serves as Chairman of the Board. Peter E. Baccile is the Chief Executive Officer. The company operates under a typical REIT structure with a board of directors and executive management team overseeing various departments.
Top Products and Market Share
Key Offerings
- Industrial Real Estate Leasing: First Industrial's primary product is leasing industrial space, including warehouse, distribution, and light manufacturing facilities. They operate in key logistics markets across the U.S. Market share is relative to total square footage owned/managed and rental income generated. Competitors include Prologis, Duke Realty (now Prologis), and other large industrial REITs.
Market Dynamics
Industry Overview
The industrial real estate market is driven by e-commerce growth, supply chain modernization, and increased demand for logistics space. The market is highly competitive with several large REITs and private equity firms investing in industrial properties.
Positioning
First Industrial is a well-established player in the industrial REIT sector. They have a strong focus on key logistics markets and a proven track record of developing and managing high-quality industrial properties. They have developed a focus on creating green or sustainable buildings. Their financial strength allows them to compete effectively.
Total Addressable Market (TAM)
The industrial real estate market is estimated to be worth hundreds of billions of dollars. First Industrial's position allows it to capture a percentage of this TAM, and the exact percentage changes based on their investments and leasing portfolio.
Upturn SWOT Analysis
Strengths
- Strong presence in key logistics markets
- Experienced management team
- Disciplined approach to capital allocation
- Healthy balance sheet
- Commitment to ESG principles
Weaknesses
- Geographic concentration in select markets
- Sensitivity to economic cycles
- Reliance on occupancy rates
- Limited diversification outside of industrial properties
Opportunities
- Expanding into new geographic markets
- Developing more e-commerce-related facilities
- Increasing investment in sustainable properties
- Acquiring smaller industrial portfolios
Threats
- Economic downturns
- Rising interest rates
- Increased competition from other REITs
- Overbuilding in certain markets
Competitors and Market Share
Key Competitors
- PLD
- EQIX
- PSA
- ARE
- DLR
Competitive Landscape
First Industrial's advantages include its focus on key logistics markets and disciplined approach to capital allocation. Disadvantages may include its smaller size compared to some of its larger competitors.
Major Acquisitions
Cornerstone Industrial Properties
- Year: 2021
- Acquisition Price (USD millions): 256
- Strategic Rationale: Expanded footprint in key logistics markets.
Growth Trajectory and Initiatives
Historical Growth: First Industrial has experienced steady growth over the past years, driven by acquisitions, developments, and organic leasing growth.
Future Projections: Analyst estimates vary. Future growth is expected to be driven by continued demand for industrial space, particularly from e-commerce companies. Refer to analyst reports for specific projections.
Recent Initiatives: Recent initiatives include focusing on sustainable building practices, expanding into select growth markets, and developing state-of-the-art logistics facilities.
Summary
First Industrial Realty Trust is a stable REIT with a focus on the growing industrial sector. The company benefits from the increasing demand for logistics space, especially from e-commerce. However, it is sensitive to economic downturns and faces competition from larger REITs. Their strategic focus on sustainable properties and key markets is helping to drive growth, but they need to manage the risks of rising interest rates and potential overbuilding.
Peer Comparison
Sources and Disclaimers
Data Sources:
- First Industrial Realty Trust Inc. Investor Relations
- SEC Filings
- Financial News Outlets
- Analyst Reports
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on individual research and consultation with a qualified financial advisor. Market share estimates are approximate and may vary by source.
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 69.5 million square feet of industrial space as of December 31, 2024.
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