FR Stock - First Industrial Realty Trust, Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $672.18M | $618.20M | $654.87M | $476.13M | $447.79M |
| Gross Profit | $487.83M | $448.88M | $510.30M | $344.83M | $328.59M |
| Gross Margin | 72.6% | 72.6% | 77.9% | 72.4% | 73.4% |
| Operating Income | $297.77M | $262.32M | $290.03M | $282.21M | $198.38M |
| Net Income | $287.34M | $274.82M | $359.13M | $271.00M | $201.58M |
| Net Margin | 42.7% | 44.5% | 54.8% | 56.9% | 45.0% |
| EPS | $2.17 | $2.08 | $2.72 | $2.09 | $1.53 |
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.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| October 1st 2025 | Cantor Fitzgerald | Initiation | Neutral | $55 |
| February 21st 2025 | Goldman | Upgrade | Neutral | $59← $52 |
| January 14th 2025 | Deutsche Bank | Initiation | Hold | $52 |
| December 17th 2024 | KeyBanc Capital Markets | Upgrade | Sector Weight | - |
| August 13th 2024 | Wolfe Research | Upgrade | Outperform | $64 |
| June 4th 2024 | Exane BNP Paribas | Initiation | Outperform | $57 |
| April 25th 2024 | Wedbush | Downgrade | Neutral | $49← $59 |
| March 27th 2024 | Barclays | Downgrade | Equal Weight | $53← $63 |
| December 7th 2023 | Wells Fargo | Initiation | Equal Weight | - |
| December 5th 2023 | Mizuho | Upgrade | Buy | $55 |
| October 12th 2023 | KeyBanc Capital Markets | Downgrade | Underweight | $42 |
| October 3rd 2023 | Wedbush | Initiation | Outperform | $55 |
| July 19th 2023 | Citigroup | Initiation | Neutral | $57 |
| March 21st 2023 | Goldman | Resumed | Sell | $48 |
| December 16th 2022 | JP Morgan | Upgrade | Overweight | $56← $53 |
Earnings History & Surprises
FREPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 14, 2026 | — | — | — | — |
Q1 2026 | Feb 4, 2026 | $0.76 | — | — | — |
Q4 2025 | Oct 15, 2025 | $0.74 | $0.76 | +2.7% | ✓ BEAT |
Q3 2025 | Jul 16, 2025 | $0.72 | $0.76 | +5.6% | ✓ BEAT |
Q2 2025 | Apr 16, 2025 | $0.70 | $0.68 | -2.9% | ✗ MISS |
Q1 2025 | Feb 5, 2025 | $0.35 | $0.71 | +102.9% | ✓ BEAT |
Q4 2024 | Oct 16, 2024 | $0.38 | $0.75 | +97.4% | ✓ BEAT |
Q3 2024 | Jul 17, 2024 | $0.64 | $0.66 | +3.1% | ✓ BEAT |
Q2 2024 | Apr 17, 2024 | $0.31 | $0.52 | +67.7% | ✓ BEAT |
Q1 2024 | Feb 7, 2024 | $0.31 | $0.67 | +116.1% | ✓ BEAT |
Q4 2023 | Oct 18, 2023 | $0.30 | $0.57 | +90.0% | ✓ BEAT |
Q3 2023 | Jul 19, 2023 | $0.60 | $0.61 | +1.7% | ✓ BEAT |
Q2 2023 | Apr 19, 2023 | $0.57 | $0.59 | +3.5% | ✓ BEAT |
Q1 2023 | Feb 8, 2023 | $0.26 | $0.62 | +138.5% | ✓ BEAT |
Q4 2022 | Oct 19, 2022 | $0.56 | $0.60 | +7.1% | ✓ BEAT |
Q3 2022 | Jul 20, 2022 | $0.53 | $0.56 | +5.7% | ✓ BEAT |
Q2 2022 | Apr 20, 2022 | $0.52 | $0.53 | +1.9% | ✓ BEAT |
Q1 2022 | Feb 9, 2022 | $0.51 | $0.52 | +2.0% | ✓ BEAT |
Q4 2021 | Oct 20, 2021 | $0.49 | $0.51 | +4.1% | ✓ BEAT |
Q3 2021 | Jul 21, 2021 | $0.22 | $0.40 | +81.8% | ✓ BEAT |
Latest News
Shares of REITs are trading higher after the Fed cut rates, which could drive a rotation into dividend-paying sectors.
📈 PositiveMizuho Maintains Outperform on First Industrial Realty, Raises Price Target to $62
📈 PositiveScotiabank Maintains Sector Perform on First Industrial Realty, Raises Price Target to $57
📈 PositiveWells Fargo Maintains Equal-Weight on First Industrial Realty, Raises Price Target to $57
📈 PositiveRBC Capital Maintains Outperform on First Industrial Realty, Raises Price Target to $64
📈 PositiveJP Morgan Maintains Overweight on First Industrial Realty, Raises Price Target to $61
📈 PositiveGoldman Sachs Maintains Neutral on First Industrial Realty, Raises Price Target to $59
📈 PositiveFirst Industrial Realty Raises FY2025 FFO Guidance from $2.88-$2.96 to $2.94-$2.98 vs $2.93 Est
📈 PositiveFirst Industrial Realty Q3 FFO $0.76 Beats $0.74 Estimate, Sales $181.430M Miss $182.022M Estimate
📈 PositiveCantor Fitzgerald Initiates Coverage On First Industrial Realty with Neutral Rating, Announces Price Target of $55
➖ NeutralRBC Capital Reiterates Outperform on First Industrial Realty, Maintains $60 Price Target
📈 PositiveMizuho Maintains Outperform on First Industrial Realty, Raises Price Target to $56
📈 PositiveScotiabank Maintains Sector Perform on First Industrial Realty, Raises Price Target to $54
📈 PositiveFrequently Asked Questions about FR
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