First Industrial Realty Trust
Market Cap
US$5.5b
Last Updated
2021/01/26 00:15 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 6.1% per year for the next 3 years
+ 1 more risk
Snowflake Analysis
Fair value with acceptable track record.
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Share Price & News
How has First Industrial Realty Trust's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FR's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
2.0%
FR
1.7%
US REITs
2.6%
US Market
1 Year Return
-3.2%
FR
-9.7%
US REITs
26.0%
US Market
Return vs Industry: FR exceeded the US REITs industry which returned -9.7% over the past year.
Return vs Market: FR underperformed the US Market which returned 26% over the past year.
Shareholder returns
| FR | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.0% | 1.7% | 2.6% |
| 30 Day | 0.6% | 2.3% | 5.1% |
| 90 Day | 2.4% | 9.5% | 17.1% |
| 1 Year | -0.6%-3.2% | -5.4%-9.7% | 28.9%26.0% |
| 3 Year | 47.1%35.8% | 27.8%12.1% | 46.3%36.6% |
| 5 Year | 134.8%104.5% | 54.1%22.5% | 126.9%101.6% |
Long-Term Price Volatility Vs. Market
How volatile is First Industrial Realty Trust's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Did You Participate In Any Of First Industrial Realty Trust's (NYSE:FR) Fantastic 136% Return ?Valuation
Is First Industrial Realty Trust undervalued compared to its fair value and its price relative to the market?
20.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FR ($41.8) is trading below our estimate of fair value ($52.59)
Significantly Below Fair Value: FR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FR is good value based on its PE Ratio (25.5x) compared to the US REITs industry average (38.2x).
PE vs Market: FR is poor value based on its PE Ratio (25.5x) compared to the US market (21.3x).
Price to Earnings Growth Ratio
PEG Ratio: FR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: FR is overvalued based on its PB Ratio (2.9x) compared to the US REITs industry average (1.6x).
Next Steps
Future Growth
How is First Industrial Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
-6.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FR's earnings are forecast to decline over the next 3 years (-6.1% per year).
Earnings vs Market: FR's earnings are forecast to decline over the next 3 years (-6.1% per year).
High Growth Earnings: FR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: FR's revenue (5.2% per year) is forecast to grow slower than the US market (10.6% per year).
High Growth Revenue: FR's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FR's Return on Equity is forecast to be low in 3 years time (6.5%).
Next Steps
Past Performance
How has First Industrial Realty Trust performed over the past 5 years?
20.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FR has a large one-off gain of $98.4M impacting its September 30 2020 financial results.
Growing Profit Margin: FR's current net profit margins (46.6%) are higher than last year (45.9%).
Past Earnings Growth Analysis
Earnings Trend: FR's earnings have grown significantly by 20.3% per year over the past 5 years.
Accelerating Growth: FR's earnings growth over the past year (8.3%) is below its 5-year average (20.3% per year).
Earnings vs Industry: FR earnings growth over the past year (8.3%) exceeded the REITs industry 2.9%.
Return on Equity
High ROE: FR's Return on Equity (11.3%) is considered low.
Next Steps
Financial Health
How is First Industrial Realty Trust's financial position?
Financial Position Analysis
Short Term Liabilities: FR's short term assets ($260.8M) exceed its short term liabilities ($133.2M).
Long Term Liabilities: FR's short term assets ($260.8M) do not cover its long term liabilities ($1.7B).
Debt to Equity History and Analysis
Debt Level: FR's debt to equity ratio (85.8%) is considered high.
Reducing Debt: FR's debt to equity ratio has reduced from 137.4% to 85.8% over the past 5 years.
Debt Coverage: FR's debt is not well covered by operating cash flow (15.2%).
Interest Coverage: FR's interest payments on its debt are well covered by EBIT (3.1x coverage).
Balance Sheet
Next Steps
Dividend
What is First Industrial Realty Trust current dividend yield, its reliability and sustainability?
2.39%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FR's dividend (2.39%) is higher than the bottom 25% of dividend payers in the US market (1.38%).
High Dividend: FR's dividend (2.39%) is low compared to the top 25% of dividend payers in the US market (3.85%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FR has been paying a dividend for less than 10 years.
Growing Dividend: FR's dividend payments have increased, but the company has only paid a dividend for 8 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (52.8%), FR's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FR's dividends in 3 years are forecast to be covered by earnings (52.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.1yrs
Average management tenure
CEO
Peter Baccile (58 yo)
4.08yrs
Tenure
US$4,363,433
Compensation
Mr. Peter E. Baccile serves as President of First Industrial Realty Trust, Inc since September 2016 and its Chief Executive Officer since December 2016 and Director since 2016. Mr. Baccile serves as Presid...
CEO Compensation Analysis
Compensation vs Market: Peter's total compensation ($USD4.36M) is below average for companies of similar size in the US market ($USD6.39M).
Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.08yrs | US$4.36m | 0.041% $ 2.3m | |
| Co-Founder | no data | US$2.07m | 0.20% $ 11.1m | |
| CFO, Senior VP | 12.08yrs | US$1.24m | 0.080% $ 4.4m | |
| Executive Vice President of Central Region | 11.83yrs | US$1.19m | 0.11% $ 5.8m | |
| Executive Vice President of East Region | 11.83yrs | US$1.12m | 0.086% $ 4.8m | |
| Senior VP of Operations & Chief Information Officer | no data | no data | no data | |
| Chief Accounting Officer | 4yrs | no data | no data | |
| Vice President of Investor Relations & Marketing | no data | no data | no data | |
| General Counsel & Secretary | 2yrs | no data | no data | |
| Senior Regional Director of Chicago - Milwaukee | 4yrs | no data | no data |
4.1yrs
Average Tenure
57yo
Average Age
Experienced Management: FR's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 4.08yrs | US$4.36m | 0.041% $ 2.3m | |
| Lead Independent Director | 5yrs | US$189.00k | 0.016% $ 902.1k | |
| Independent Chairman | 0.50yr | US$153.50k | 0.025% $ 1.4m | |
| Independent Director | 0.67yr | no data | no data | |
| Independent Director | 3.17yrs | US$156.50k | 0.0017% $ 92.8k | |
| Independent Director | 11.08yrs | US$183.50k | 0.029% $ 1.6m | |
| Independent Director | 10.17yrs | US$169.00k | 0.052% $ 2.9m |
4.3yrs
Average Tenure
65yo
Average Age
Experienced Board: FR's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
First Industrial Realty Trust, Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: First Industrial Realty Trust, Inc.
- Ticker: FR
- Exchange: NYSE
- Founded: 1993
- Industry: Industrial REITs
- Sector: Real Estate
- Implied Market Cap: US$5.521b
- Market Cap: US$5.394b
- Shares outstanding: 131.76m
- Website: https://www.firstindustrial.com
Number of Employees
Location
- First Industrial Realty Trust, Inc.
- One North Wacker Drive
- Suite 4200
- Chicago
- Illinois
- 60606
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| FR | NYSE (New York Stock Exchange) | Yes | Common Stock | US | USD | Jun 1994 |
| F5W | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Jun 1994 |
| FR.PRKC | NYSE (New York Stock Exchange) | PFD K 7.25% | US | USD | Aug 2006 |
Biography
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 m...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/26 00:15 |
| End of Day Share Price | 2021/01/25 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.