First Industrial Realty Trust, Inc. (FR) Stock Price & Analysis
First Industrial Realty Trust, Inc. (FR) closed at USD 55.29 on Thursday, October 22, 2026, down 6.92% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 59.4; the Oct 22, 2026 session ranged USD 55.03–57.55 on volume of 4,635,278 shares. Market capitalization is $7.58B, with a 52-week range of USD 54.23–69.88 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:34 UTC.
Also available as compact Markdown for AI agents: nexqual.com/FR.md
Key facts (FR)
- Last four reported quarters (through Sep 30, 2026): revenue $775M, net income $358M (46.1% margin) (SEC filings).
- Valuation: P/E 21.2x (avg 26.4x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold FR (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.24 on a 1–5 scale) (17 analysts), mean target USD 70.31 (range 62–86).
- Total return with dividends: 1Y +2.5% vs S&P 500 +14.9%; 5Y +9.2% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 0.44, revenue estimate $201M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FR)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $476M | $540M | $614M | $670M | $727M | $775M |
| Net income | $271M | $359M | $275M | $288M | $247M | $358M |
| EPS (diluted) | $2.09 | $2.72 | $2.07 | $2.17 | $1.87 | — |
| Net margin | 56.9% | 66.5% | 44.8% | 42.9% | 34.0% | 46.1% |
| Revenue growth | +6.3% | +13.4% | +13.7% | +9.1% | +8.6% | — |
| Cash + short-term investments | $58.6M | $133M | $43.8M | $44.5M | $78.0M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (FR)
P/E 21.2x · P/S 9.8x · P/B 2.7x · Earnings yield 4.72% · Dividend yield (paid, TTM) 3.39%
P/E at fiscal year-ends: Dec 2025 30.7x, Dec 2024 23.1x, Dec 2023 25.4x.
Superinvestors (SEC 13F-HR, Q2 2026) (FR)
1 of 80 tracked investors hold FR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Third Avenue Management | 0.76% | $4.8M | Reduced -4.3% |
Analysts (FR)
Consensus Buy (mean 2.24 on a 1–5 scale), 17 analysts; mean target USD 70.31 (low 62, high 86).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-01 | Wells Fargo | Target raised | Equal-Weight | $61 → $66 |
| 2026-08-12 | Scotiabank | Target raised | Sector Perform | $63 → $66 |
| 2026-08-03 | RBC Capital | Target raised | Outperform | $68 → $75 |
| 2026-07-29 | Baird | Target raised | Outperform | $71 → $74 |
| 2026-07-28 | Citigroup | Target raised | Neutral | $63 → $72 |
| 2026-07-28 | Truist Securities | Target raised | Buy | $67 → $73 |
| 2026-07-16 | Barclays | Target raised | Equal-Weight | $64 → $69 |
Total return (dividends reinvested) (FR)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +2.5% | +9.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +2.5% | +1.8% |
| Volatility (annualized) | 19.8% | 23.5% |
| Max drawdown | -19.0% (Jul 2026→Oct 2026) | -35.9% (Dec 2021→Oct 2023) |
FR company outlook (results filed Oct 21, 2026)
- “Increased $0.01 at the Midpoint • 2026 Cash Same Store NOI Growth Guidance Increased 75 Basis Points at the Midpoint to 6.5% CHICAGO, October 21, 2026 – First Industrial Realty Trust, Inc.”
Quoted word-for-word from the SEC 8-K results press release.
FR analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $0.44 | $0.45 | -2.7% | $200.8M | 3 |
| Next quarter (ends Mar 2027) | $0.38 | $0.40 | -4.4% | $206.0M | 3 |
| Current fiscal year (ends Dec 2026) | $2.52 | $1.76 | +42.6% | $790.2M | 2 |
| Next fiscal year (ends Dec 2027) | $1.82 | $1.89 | -3.6% | $836.6M | 3 |
FR options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 23.8% | ±5.4% |
| Dec 18, 2026 | 56 | 22.2% | ±7.1% |
| Mar 19, 2027 | 147 | 25.2% | ±12.8% |
| Jun 17, 2027 | 237 | 22.9% | ±15.1% |
30-day implied volatility 21.6% vs 26.4% realized over the last 30 trading days. Put/call ratio (volume) 0.92. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:34 UTC)
| Price | USD 55.29 |
|---|---|
| Change | ▼ 6.92% (down) |
| Previous Close | USD 59.4 |
| Open | USD 55.99 |
| Day Range | USD 55.03 – 57.55 |
| 52-Week Range | USD 54.23 – 69.88 |
| Volume | 4,635,278 shares |
| Market Cap | $7.58B |
| Exchange | NYQ |
Technical Analysis (FR)
Nexqual's technical model rates FR "SELL" based on 3 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:34 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 27.22 (oversold) |
| vs SMA50 | Below (USD 60.96) |
| MACD | -0.95 (negative) |
Analyst Ratings (FR)
Wall Street analysts rate FR "Buy" based on 17 analysts, with a mean price target of USD 70.31 (range USD 62–86), per Nexqual as of October 23, 2026 at 10:34 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 17 |
| Mean Target | USD 70.31 |
| High Target | USD 86 |
| Low Target | USD 62 |
| Buy / Hold / Sell | 10 / 7 / 0 |
Earnings (FR)
| Next Earnings Date | 2026-10-21 |
|---|---|
| EPS Estimate | USD 0.44 |
| Revenue Estimate | $200.78M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 0.44 vs est 0.43 ▲ beat |
| 2026-06-30 | USD 0.58 vs est 0.43 ▲ beat |
| 2026-03-31 | USD 1.08 vs est 0.33 ▲ beat |
| 2025-12-31 | USD 0.59 vs est 0.42 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Financials & Fundamentals (FR)
| Total Revenue | $775.88M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +8.50% |
| Gross Margin | +73.75% |
| Operating Margin | +44.22% |
| Profit Margin | +46.09% |
| Debt / Equity | 0.9 |
| Total Cash | $46.05M |
| Total Debt | $2.58B |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Financial Health Score (FR)
Nexqual rates First Industrial Realty Trust, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 10:34 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 74%, operating 44% (last 12 months) |
| Balance Sheet | Mixed — $46M cash vs $2.58B debt |
| Cash Flow | Solid — Operating cash flow $461M (FY ended Dec 2025, 10-K) |
| Efficiency | Mixed — No data |
Ownership (FR)
| Insider Ownership | +0.35% |
|---|---|
| Institutional Ownership | +103.50% |
| Shares Outstanding | 132.57M |
| Float | 131.69M |
| Short % of Float | +5.54% |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Leadership (FR)
First Industrial Realty Trust, Inc. is led by Peter E. Baccile, President, CEO & Director, per Nexqual as of October 23, 2026 at 10:34 UTC.
| President, CEO & Director | Peter E. Baccile |
|---|---|
| Chairman of Board & Director | Matthew S. Dominski |
| CFO, Senior VP, Treasurer & Assistant Secretary | Scott A. Musil |
| Executive Vice President of East Region | Peter O. Schultz |
| Executive Director of Los Angeles & Inland Empire | Ryan McClean |
Major Backers & Investors (FR)
Notable institutional backers of First Industrial Realty Trust, Inc. include NORGES BANK, CenterSquare Investment Management LLC, Cohen & Steers Inc., according to Nexqual as of October 23, 2026 at 10:34 UTC.
Active Investors
| Investor | Stake |
|---|---|
| NORGES BANK | 4.13% |
| CenterSquare Investment Management LLC | 3.66% |
| Cohen & Steers Inc. | 2.07% |
| Prudential Financial, Inc. | 1.97% |
| Charles Schwab Investment Management, Inc. | 1.95% |
| Thrivent Mutual Funds-Thrivent Mid Cap Stock Fund | 0.89% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 14.1% |
| BlackRock | 12.57% |
| State Street | 4.77% |
| Geode Capital | 2.15% |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
From First Industrial Realty Trust, Inc.'s Latest SEC 10-K Filing (filed 2026-02-11)
Key Strengths & Strategy (as disclosed to the SEC)
- We believe the size of our portfolio enables us to realize operating efficiencies by spreading overhead costs among many properties and by negotiating favorable terms and purchasing discounts.
Partnerships
- The Operating Partnership also conducts operations through several other limited partnerships (the "Other Real Estate Partnerships"), numerous limited liability companies ("LLCs") and certain taxable REIT subsidiaries ("TRSs"), the operating data of which, together with that of the Operating Partnership, is consolidated with that of the Company as presented herein.
- The general partners of the Other Real Estate Partnerships are separate corporations, wholly-owned by the Company, each with at least a .01% general partnership interest in the Other Real Estate Partnerships.
Legal & Regulatory Risks (Item 1A, quoted)
- We may incur significant costs to comply with various federal, state and local laws and regulations applicable to our properties.
- The Company might fail to qualify as a REIT under existing laws and/or federal income tax laws could change.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| STAG | Stag Industrial, Inc. | USD 36.51 | ▲ 0.14% |
| TRNO | Terreno Realty Corporation | USD 65.64 | ▲ 0.12% |
| REXR | Rexford Industrial Realty, Inc. | USD 36.28 | ▼ 1.41% |
| LINE | Lineage, Inc. | USD 35.09 | ▲ 2.42% |
| CUBE | CubeSmart | USD 40.15 | ▲ 3.05% |
| EGP | EastGroup Properties, Inc. | USD 202.7 | ▼ 0.3% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:34 UTC. This page is informational and not investment advice.
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