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.
IPO Year: 1994
Exchange: NYSE
Website: firstindustrial.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/13/2024 | $64.00 | Peer Perform → Outperform | Wolfe Research |
| 6/4/2024 | $57.00 | Outperform | Exane BNP Paribas |
| 4/25/2024 | $59.00 → $49.00 | Outperform → Neutral | Wedbush |
| 3/27/2024 | $63.00 → $53.00 | Overweight → Equal Weight | Barclays |
| 12/7/2023 | Equal Weight | Wells Fargo | |
| 12/5/2023 | $55.00 | Neutral → Buy | Mizuho |
| 10/12/2023 | $42.00 | Sector Weight → Underweight | KeyBanc Capital Markets |
| 10/3/2023 | $55.00 | Outperform | Wedbush |
| 7/19/2023 | $57.00 | Neutral | Citigroup |
| 3/21/2023 | $48.00 | Sell | Goldman |
First Industrial Realty (NYSE:FR) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.64 by 3.13 percent. This is a 8.2 percent increase over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $164.136 million which missed the analyst consensus estimate of $164.580 million by 0.27 percent. This is a 7.83 percent increase over sales of $152.223 million the same period last year.
First Industrial Realty (NYSE:FR) has been analyzed by 8 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 3 3 0 0 Last 30D 0 0 1 0 0 1M Ago 0 2 1 0 0 2M Ago 1 0 1 0 0 3M Ago 1 1 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $54.62, a high estimate of $59.00, and a low estimate of $49.00. A decline of 5.83% from the prior average p
Scotiabank analyst Nicholas Yulico maintains First Industrial Realty (NYSE:FR) with a Sector Perform and lowers the price target from $55 to $50.
Baird analyst David Rodgers maintains First Industrial Realty (NYSE:FR) with a Outperform and lowers the price target from $62 to $56.
Wedbush analyst Richard Anderson downgrades First Industrial Realty (NYSE:FR) from Outperform to Neutral and lowers the price target from $59 to $49.
JP Morgan analyst Michael Mueller maintains First Industrial Realty (NYSE:FR) with a Overweight and lowers the price target from $59 to $53.
"With ongoing uncertainty in the overall economy and interest rate environment, some businesses continue to be measured in their leasing decision-making," said Peter E. Baccile, president and chief executive officer. "As a result, we have adjusted certain leasing assumptions within our same store portfolio that are reflected in our updated guidance."
In the preceding three months, 5 analysts have released ratings for First Industrial Realty (NYSE:FR), presenting a wide array of perspectives from bullish to bearish. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 2 1 0 0 Last 30D 0 0 0 0 0 1M Ago 1 0 1 0 0 2M Ago 1 1 0 0 0 3M Ago 0 1 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $57.8, a high estimate of $60.00, and a low estimate of $53.00. Observing a 1.76% incr
Wolfe Research upgraded First Industrial Realty from Peer Perform to Outperform and set a new price target of $64.00
Exane BNP Paribas initiated coverage of First Industrial Realty with a rating of Outperform and set a new price target of $57.00
Wedbush downgraded First Industrial Realty from Outperform to Neutral and set a new price target of $49.00 from $59.00 previously
Barclays downgraded First Industrial Realty from Overweight to Equal Weight and set a new price target of $53.00 from $63.00 previously
Wells Fargo initiated coverage of First Industrial Realty with a rating of Equal Weight
Mizuho upgraded First Industrial Realty from Neutral to Buy and set a new price target of $55.00
KeyBanc Capital Markets downgraded First Industrial Realty from Sector Weight to Underweight and set a new price target of $42.00
Wedbush initiated coverage of First Industrial Realty with a rating of Outperform and set a new price target of $55.00
Citigroup initiated coverage of First Industrial Realty with a rating of Neutral and set a new price target of $57.00
Goldman resumed coverage of First Industrial Realty with a rating of Sell and set a new price target of $48.00
CHICAGO, Oct. 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending December 31, 2024 payable on January 21, 2025 to stockholders of record on December 31, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE:FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully
51% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024; Includes 300,000 Square-Foot Southern California RenewalCash Same Store NOI Growth of 7.6% in the Third Quarter33% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025Started a 542,000 Square-Foot Development in Nashville, Estimated Investment of $54 MillionAcquired Fully Leased Four-Building Portfolio in Houston for $29 MillionSold Ten Buildings for $101 Million in the Third Quarter and Fourth Quarter To-Date2024 NAREIT FFO Guidance Increased $0.02 at the Midpoint to $2.61 to $2.65 Per Share/UnitCHICAGO, Oct. 16, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully int
CHICAGO, Oct. 1, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its third quarter 2024 results conference call on Thursday, October 17, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's third quarter 2024 results will be released on Wednesday, Oc
CHICAGO, Aug. 1, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending September 30, 2024 payable on October 21, 2024 to stockholders of record on September 30, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE:FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully
Signed 1.1 Million Square Feet of New Leases for Speculative Developments in the Second Quarter and Third Quarter To-DateSigned a 212,000 Square-Foot Partial Build-to-Suit Lease in the Second QuarterStarted Two Developments in South Florida and the Partial Build-To-Suit in Houston Totaling 683,000 Square Feet, Estimated Investment of $109 MillionRenewed Largest 2025 Lease Rollover of 1.3 Million Square FeetRenewed One of the Two Largest Remaining 2024 Expirations in Southern California for 221,000 Square Feet45% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024Sold Eight Buildings for $90 Million in the Second Quarter and Third Quarter To-Date2024 NAREIT FFO Guidance Incr
CHICAGO, June 25, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its second quarter 2024 results conference call on Thursday, July 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's second quarter 2024 results will be released on Wednesday, J
CHICAGO, May 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will present at Nareit's REITWeek 2024 Investor Conference on Tuesday, June 4, 2024 at 3:00 PM EDT (2:00 PM CDT). A webcast of the presentation will be available on First Industrial's website at www.firstindustrial.com under the "Investors" tab. A replay of the webcast will also be available on the website through Thursday, July 4, 2024. First Industrial's presentation materials for the conference will be availa
CHICAGO, April 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending June 30, 2024 payable on July 15, 2024 to stockholders of record on June 28, 2024. About First Industrial Realty Trust, Inc. 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
Signed 1.6 Million Square Feet of New Leases for Speculative Developments on Balance Sheet and 376,000 Square Feet in the Joint Venture in the First Quarter45% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024Cash Same Store NOI Growth of 10.0%Sold Nine Buildings for $49 MillionIncreased First Quarter 2024 Dividend to $0.37 Per Share; 15.6% Growth Compared to Prior Quarterly RateCHICAGO, April 17, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the first quarter of 2024. First Industrial's diluted net income available to common stockholders pe
CHICAGO, March 20, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2024 results conference call on Thursday, April 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's first quarter 2024 results will be released on Wednesday, A
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CHICAGO, Oct. 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending December 31, 2024 payable on January 21, 2025 to stockholders of record on December 31, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE:FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully
51% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024; Includes 300,000 Square-Foot Southern California RenewalCash Same Store NOI Growth of 7.6% in the Third Quarter33% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025Started a 542,000 Square-Foot Development in Nashville, Estimated Investment of $54 MillionAcquired Fully Leased Four-Building Portfolio in Houston for $29 MillionSold Ten Buildings for $101 Million in the Third Quarter and Fourth Quarter To-Date2024 NAREIT FFO Guidance Increased $0.02 at the Midpoint to $2.61 to $2.65 Per Share/UnitCHICAGO, Oct. 16, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully int
CHICAGO, Oct. 1, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its third quarter 2024 results conference call on Thursday, October 17, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's third quarter 2024 results will be released on Wednesday, Oc
CHICAGO, Aug. 1, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending September 30, 2024 payable on October 21, 2024 to stockholders of record on September 30, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE:FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully
Signed 1.1 Million Square Feet of New Leases for Speculative Developments in the Second Quarter and Third Quarter To-DateSigned a 212,000 Square-Foot Partial Build-to-Suit Lease in the Second QuarterStarted Two Developments in South Florida and the Partial Build-To-Suit in Houston Totaling 683,000 Square Feet, Estimated Investment of $109 MillionRenewed Largest 2025 Lease Rollover of 1.3 Million Square FeetRenewed One of the Two Largest Remaining 2024 Expirations in Southern California for 221,000 Square Feet45% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024Sold Eight Buildings for $90 Million in the Second Quarter and Third Quarter To-Date2024 NAREIT FFO Guidance Incr
CHICAGO, June 25, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its second quarter 2024 results conference call on Thursday, July 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's second quarter 2024 results will be released on Wednesday, J
CHICAGO, April 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending June 30, 2024 payable on July 15, 2024 to stockholders of record on June 28, 2024. About First Industrial Realty Trust, Inc. 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
Signed 1.6 Million Square Feet of New Leases for Speculative Developments on Balance Sheet and 376,000 Square Feet in the Joint Venture in the First Quarter45% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024Cash Same Store NOI Growth of 10.0%Sold Nine Buildings for $49 MillionIncreased First Quarter 2024 Dividend to $0.37 Per Share; 15.6% Growth Compared to Prior Quarterly RateCHICAGO, April 17, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE:FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the first quarter of 2024. First Industrial's diluted net income available to common stockholders pe
CHICAGO, March 20, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, will host its first quarter 2024 results conference call on Thursday, April 18, 2024 at 10:00 a.m. CDT (11:00 a.m. EDT). The conference call may be accessed by dialing (877) 870-4263, passcode "First Industrial". The conference call will also be webcast live on the Investors page of the Company's website at www.firstindustrial.com. First Industrial's first quarter 2024 results will be released on Wednesday, A
Cash Rental Rates Up 58.3% in 2023, Highest Annual Increase in Company History39% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024Cash Same Store NOI Growth of 8.4% for Full Year 2023Leased 100% of the 644,000 Square-Foot and 50% of the 349,000 Square-Foot Old Post Road Buildings in BaltimoreSigned 705,000 Square Feet of New Leases for Speculative Developments in the Fourth Quarter 2023 and First Quarter 2024 To-Date Inclusive of Joint VentureSold Seven Buildings for $64 Million in the Fourth Quarter; $125 Million Sold in 20232024 NAREIT FFO Guidance Initiated at a Range of $2.54 to $2.64 Per Share/Unit; $2.56 to $2.66 Per Share/Unit Excluding Accelerated ExpenseIncrease
CHICAGO, April 5, 2021 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate, announced today that David G. Harker, Executive Vice President – Central Region has notified First Industrial of his intention to retire from the Company effective as of June 30, 2021. Consistent with the company's succession planning, Johannson L. Yap and Peter O. Schultz each will assume portions of Mr. Harker's duties. Since joining First Industrial in 1998, Mr. Harker has provided thoughtful leadership to his team and made countless contributions to the transformation of the First Industrial portfolio and our operation
CHICAGO, Feb. 25, 2021 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator, and developer of industrial real estate, announced today that Marcus L. Smith has been appointed to its board of directors and will serve as a member of its investment and nominating/corporate governance committees. Mr. Smith is a director of MCSI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community. Mr. Smith was most recently the Director of Equity (Canada) and a portfolio manager at MFS Investment Management ("MFS") until his retirement in April 2017. He was responsible for managing the MFS
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