First Industrial Realty Trust Future Growth

Future criteria checks 0/6

First Industrial Realty Trust is forecast to grow earnings and revenue by 0.9% and 7.5% per annum respectively. EPS is expected to grow by 2.5% per annum. Return on equity is forecast to be 8.9% in 3 years.

Key information

0.9%

Earnings growth rate

2.48%

EPS growth rate

Industrial REITs earnings growth	10.1%
Revenue growth rate	7.5%
Future return on equity	8.94%
Analyst coverage	Good
Last updated	16 May 2025

Recent future growth updates

Recent updates

Leasing Focus In Volatile Markets And Speculative Developments May Stifle Growth Prospects

Aug 27 Focusing on leasing in improving markets with rising vacancies risks occupancy rates and revenue growth if demand doesn't match new supply.

First Industrial Realty Trust Sets The Ground For The Upcoming Upside

Jul 24

First Industrial: Recent Volatility Makes Them More Attractive Compared To Peers

Jul 09

First Industrial Looks Buyable As Market Conditions Improve

Jun 20

First Industrial: Shares Attractive Despite Softer Q1 Results

Apr 18

First Industrial Is Positioned For A Strong 2024

Jan 05

First Industrial: Embedded Growth At A Discount

Oct 25

First Industrial: Buy The Dip On This Fast-Growing REIT

Oct 07

First Industrial: Is It A Buy Following Another Quarter Of Record Rental Growth?

Jul 21

First Industrial Realty: The Speculative Exposure Still Warrants A Higher Risk Premium

Feb 15

First Industrial Realty Trust FFO of $0.59 beats by $0.03, revenue of $144.62M beats by $4.87M

Feb 08

First Industrial: Not The Best Time For Speculative Development

Dec 07

First Industrial Realty Trust Q3 2022 Earnings Preview

Oct 19

First Industrial Realty Trust: The Picture Keeps Getting Better

Aug 21

First Industrial Realty Trust declares $0.295 dividend

Aug 05

First Industrial Realty Trust FFO of $0.56 beats by $0.02, revenue of $130.05M beats by $2.5M

Jul 20

Earnings and Revenue Growth Forecasts

NYSE:FR - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	838	256	N/A	N/A	5
12/31/2026	769	234	N/A	N/A	10
12/31/2025	717	206	N/A	N/A	9
3/31/2025	686	267	379	379	N/A
12/31/2024	672	287	352	352	N/A
9/30/2024	656	308	340	340	N/A
6/30/2024	644	284	319	319	N/A
3/31/2024	632	287	297	297	N/A
12/31/2023	618	275	305	305	N/A
9/30/2023	604	267	305	305	N/A
6/30/2023	587	316	308	308	N/A
3/31/2023	564	378	421	421	N/A
12/31/2022	655	359	411	411	N/A
9/30/2022	517	391	416	416	N/A
6/30/2022	498	310	407	407	N/A
3/31/2022	485	245	285	285	N/A
12/31/2021	476	271	267	267	N/A
9/30/2021	467	240	247	247	N/A
6/30/2021	462	234	241	241	N/A
3/31/2021	454	217	242	242	N/A
12/31/2020	448	196	240	240	N/A
9/30/2020	448	209	245	245	N/A
6/30/2020	439	251	243	243	N/A
3/31/2020	433	255	244	244	N/A
12/31/2019	426	238	246	246	N/A
9/30/2019	420	192	250	250	N/A
6/30/2019	413	145	237	237	N/A
3/31/2019	408	150	215	215	N/A
12/31/2018	404	163	N/A	210	N/A
9/30/2018	401	210	N/A	195	N/A
6/30/2018	400	222	N/A	192	N/A
3/31/2018	399	214	N/A	189	N/A
12/31/2017	396	201	N/A	193	N/A
9/30/2017	392	127	N/A	194	N/A
6/30/2017	387	115	N/A	193	N/A
3/31/2017	382	128	N/A	187	N/A
12/31/2016	378	121	N/A	174	N/A
9/30/2016	373	141	N/A	169	N/A
6/30/2016	372	123	N/A	162	N/A
3/31/2016	369	87	N/A	161	N/A
12/31/2015	366	74	N/A	162	N/A
9/30/2015	363	37	N/A	162	N/A
6/30/2015	357	31	N/A	160	N/A
3/31/2015	351	20	N/A	141	N/A
12/31/2014	347	19	N/A	137	N/A
9/30/2014	338	13	N/A	136	N/A
6/30/2014	331	4	N/A	132	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FR's forecast earnings growth (0.9% per year) is below the savings rate (2.8%).

Earnings vs Market: FR's earnings (0.9% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: FR's earnings are forecast to grow, but not significantly.

Revenue vs Market: FR's revenue (7.5% per year) is forecast to grow slower than the US market (8.5% per year).

High Growth Revenue: FR's revenue (7.5% 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 (8.9%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/05/20 20:48
End of Day Share Price	2025/05/20 00:00
Earnings	2025/03/31
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

First Industrial Realty Trust, Inc. is covered by 33 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Nicholas Thillman	Baird
Anthony Powell	Barclays
Brendan Lynch	Barclays

First Industrial Realty Trust Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Fiscal 2025

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2024

Consensus EPS estimates increase by 14%, revenue downgraded

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2024

Price target decreased by 7.5% to US$52.54

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2023

Recent updates

First quarter dividend of US$0.45 announced

First Industrial Realty Trust, Inc. Declares Common Stock Dividends for the Quarter Ending June 30, 2025, Payable on July 21, 2025

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Fiscal 2025

First quarter 2025 earnings: EPS misses analyst expectations

First Industrial Realty Trust, Inc. (NYSE:FR) acquired 2 Buildings Totaling 796,000 Square Feet in Phoenix for $120 million.

Investor sentiment deteriorates as stock falls 16%

First Industrial: The Dividend Growth Giant That Doesn't Get Enough Attention

First Industrial Realty Trust, Inc. to Report Q1, 2025 Results on Apr 16, 2025

Upcoming dividend of US$0.45 per share

First Industrial Realty Trust, Inc., Annual General Meeting, Apr 30, 2025

Fourth quarter dividend of US$0.45 announced

Full year 2024 earnings: EPS exceeds analyst expectations

First Industrial Realty Trust, Inc. Declares Dividend for the Quarter Ending March 31, 2025, Payable on April 21, 2025

First Industrial Realty Trust, Inc. to Report Fiscal Year 2024 Results on Feb 05, 2025

Upcoming dividend of US$0.37 per share

First Industrial Realty: A Top Industrial Pick With Solid Upside Potential

First Industrial: Still Attractive Despite Policy Risk

Third quarter dividend of US$0.37 announced

First Industrial Realty Trust, Inc. Declares Common Stock Dividend for the Quarter Ending December 31, 2024, Payable on January 21, 2025

Third quarter 2024 earnings: EPS exceeds analyst expectations

An undisclosed buyer acquired 163,000 square feet, three buildings loacted in Central Pennsylvania from First Industrial Realty Trust, Inc. (NYSE:FR) for $19 million.

First Industrial Realty Trust, Inc. to Report Q3, 2024 Results on Oct 16, 2024

Upcoming dividend of US$0.37 per share

First Industrial Realty Trust: One Of My Top Industrial REIT Picks

Leasing Focus In Volatile Markets And Speculative Developments May Stifle Growth Prospects

Second quarter dividend of US$0.37 announced

First Industrial Realty Trust, Inc. Declares Common Stock Dividends for the Quarter Ending September 30, 2024, Payable on October 21, 2024

First Industrial Realty Trust Sets The Ground For The Upcoming Upside

Second quarter 2024 earnings: EPS exceeds analyst expectations

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2024

First Industrial: Recent Volatility Makes Them More Attractive Compared To Peers

First Industrial Realty Trust, Inc. to Report Q2, 2024 Results on Jul 17, 2024

First Industrial Looks Buyable As Market Conditions Improve

First quarter dividend of US$0.37 announced

First Industrial Realty Trust, Inc. Declares Common Stock Dividend for the Quarter Ending June 30, 2024, Payable on July 15, 2024

Consensus EPS estimates increase by 14%, revenue downgraded

New minor risk - Profit margin trend

First quarter 2024 earnings: EPS exceeds analyst expectations

First Industrial: Shares Attractive Despite Softer Q1 Results

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2024

First Industrial Realty Trust, Inc. to Report Q1, 2024 Results on Apr 17, 2024

Upcoming dividend of US$0.37 per share

First Industrial Realty Trust, Inc., Annual General Meeting, Apr 30, 2024

Fourth quarter dividend of US$0.37 announced

Full year 2023 earnings: EPS exceeds analyst expectations

First Industrial Realty Trust, Inc. to Report Q4, 2023 Results on Feb 07, 2024

First Industrial Is Positioned For A Strong 2024

Upcoming dividend of US$0.32 per share at 2.5% yield

First Industrial Realty Trust, Inc. Declares Dividend for the Quarter Ending December 31, 2023 Payable on January 16, 2024

Price target decreased by 7.5% to US$52.54

First Industrial: Embedded Growth At A Discount

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

First Industrial Realty Trust, Inc. Provides Earnings Guidance for the Year 2023

First Industrial: Buy The Dip On This Fast-Growing REIT

First Industrial Realty Trust, Inc. to Report Q3, 2023 Results on Oct 18, 2023

Upcoming dividend of US$0.32 per share at 2.6% yield

First Industrial Realty Trust, Inc. Declares Common Stock Dividend for the Quarter Ending September 30, 2023, Payable on October 16, 2023

New major risk - Financial position

First Industrial: Is It A Buy Following Another Quarter Of Record Rental Growth?

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

First Industrial Realty Trust, Inc. to Report Q2, 2023 Results on Jul 19, 2023

Upcoming dividend of US$0.32 per share at 2.4% yield

Insufficient new directors

First Industrial Realty Trust, Inc. Declares Common Stock Dividend for the Quarter Ending June 30, 2023, Payable on July 17, 2023

CFO, Senior VP recently sold US$397k worth of stock

CFO, Senior VP notifies of intention to sell stock

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Now 20% undervalued

First Industrial Realty: The Speculative Exposure Still Warrants A Higher Risk Premium