FR Stock Overview
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.
First Industrial Realty Trust Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$48.49|
|52 Week High||US$66.74|
|52 Week Low||US$45.80|
|1 Month Change||-8.16%|
|3 Month Change||-22.28%|
|1 Year Change||-7.62%|
|3 Year Change||29.17%|
|5 Year Change||71.16%|
|Change since IPO||105.25%|
Recent News & Updates
Is Now The Time To Put First Industrial Realty Trust (NYSE:FR) On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
First Industrial's Growth Outpaces Its Valuation
FR has strong growth ahead from both organic rent growth and development. A large land bank already owned allows FR to build at a significantly higher return than peers. Despite the growth runway, FR trades at a low multiple on FFO.
|FR||US REITs||US Market|
Return vs Industry: FR exceeded the US REITs industry which returned -8.7% over the past year.
Return vs Market: FR exceeded the US Market which returned -21.2% over the past year.
|FR Average Weekly Movement||4.7%|
|REITs Industry Average Movement||4.9%|
|Market Average Movement||8.1%|
|10% most volatile stocks in US Market||16.9%|
|10% least volatile stocks in US Market||3.3%|
Stable Share Price: FR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: FR's weekly volatility (5%) has been stable over the past year.
About the Company
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.
First Industrial Realty Trust Fundamentals Summary
|FR fundamental statistics|
Is FR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FR income statement (TTM)|
|Cost of Revenue||US$133.47m|
Last Reported Earnings
Mar 31, 2022
Next Earnings Date
|Earnings per share (EPS)||1.85|
|Net Profit Margin||50.43%|
How did FR perform over the long term?See historical performance and comparison
2.4%Current Dividend Yield
Is FR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 5/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for FR?
Other financial metrics that can be useful for relative valuation.
|What is FR's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does FR's PE Ratio compare to its peers?
|FR PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
EGP EastGroup Properties
STAG STAG Industrial
TRNO Terreno Realty
REXR Rexford Industrial Realty
FR First Industrial Realty Trust
Price-To-Earnings vs Peers: FR is good value based on its Price-To-Earnings Ratio (26.1x) compared to the peer average (46x).
Price to Earnings Ratio vs Industry
How does FR's PE Ratio compare vs other companies in the US REITs Industry?
Price-To-Earnings vs Industry: FR is good value based on its Price-To-Earnings Ratio (26.1x) compared to the US REITs industry average (31.2x)
Price to Earnings Ratio vs Fair Ratio
What is FR's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||26.1x|
|Fair PE Ratio||39.4x|
Price-To-Earnings vs Fair Ratio: FR is good value based on its Price-To-Earnings Ratio (26.1x) compared to the estimated Fair Price-To-Earnings Ratio (39.4x).
Share Price vs Fair Value
What is the Fair Price of FR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: FR ($48.49) is trading below our estimate of fair value ($85.8)
Significantly Below Fair Value: FR is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: FR is poor value based on its PEG Ratio (3x)
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How is First Industrial Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Future Growth Score2/6
Future Growth Score 2/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FR's forecast earnings growth (8.6% per year) is above the savings rate (1.9%).
Earnings vs Market: FR's earnings (8.6% per year) are forecast to grow slower than the US market (13.6% per year).
High Growth Earnings: FR's earnings are forecast to grow, but not significantly.
Revenue vs Market: FR's revenue (11.3% per year) is forecast to grow faster than the US market (8.2% per year).
High Growth Revenue: FR's revenue (11.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if FR's Return on Equity is forecast to be high in 3 years time
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How has First Industrial Realty Trust performed over the past 5 years?
Past Performance Score3/6
Past Performance Score 3/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FR has a large one-off gain of $115.7M impacting its March 31 2022 financial results.
Growing Profit Margin: FR's current net profit margins (50.4%) are higher than last year (47.9%).
Past Earnings Growth Analysis
Earnings Trend: FR's earnings have grown by 10.7% per year over the past 5 years.
Accelerating Growth: FR's earnings growth over the past year (12.7%) exceeds its 5-year average (10.7% per year).
Earnings vs Industry: FR earnings growth over the past year (12.7%) underperformed the REITs industry 69.5%.
Return on Equity
High ROE: FR's Return on Equity (11%) is considered low.
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How is First Industrial Realty Trust's financial position?
Financial Health Score3/6
Financial Health Score 3/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: FR's short term assets ($325.7M) exceed its short term liabilities ($210.3M).
Long Term Liabilities: FR's short term assets ($325.7M) do not cover its long term liabilities ($1.9B).
Debt to Equity History and Analysis
Debt Level: FR's net debt to equity ratio (75.8%) is considered high.
Reducing Debt: FR's debt to equity ratio has reduced from 106.9% to 77.7% over the past 5 years.
Debt Coverage: FR's debt is not well covered by operating cash flow (16.2%).
Interest Coverage: FR's interest payments on its debt are well covered by EBIT (4.2x coverage).
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What is First Industrial Realty Trust current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FR's dividend (2.43%) is higher than the bottom 25% of dividend payers in the US market (1.6%).
High Dividend: FR's dividend (2.43%) is low compared to the top 25% of dividend payers in the US market (4.25%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, FR has been paying a dividend for less than 10 years.
Growing Dividend: FR's dividend payments have increased, but the company has only paid a dividend for 9 years.
Earnings Payout to Shareholders
Earnings Coverage: With its reasonable payout ratio (53.9%), FR's dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its reasonable cash payout ratio (55.9%), FR's dividend payments are covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Peter Baccile (60 yo)
Mr. Peter E. Baccile has been President of First Industrial Realty Trust, Inc since September 2016, Chief Executive Officer since December 2016 and its Director since 2016. Mr. Baccile serves as President,...
CEO Compensation Analysis
Compensation vs Market: Peter's total compensation ($USD5.24M) is below average for companies of similar size in the US market ($USD8.35M).
Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.
Experienced Management: FR's management team is seasoned and experienced (5.7 years average tenure).
Experienced Board: FR's board of directors are considered experienced (5.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.3%.
First Industrial Realty Trust, Inc.'s employee growth, exchange listings and data sources
- Name: First Industrial Realty Trust, Inc.
- Ticker: FR
- Exchange: NYSE
- Founded: 1993
- Industry: Industrial REITs
- Sector: Real Estate
- Implied Market Cap: US$6.555b
- Market Cap: US$6.401b
- Shares outstanding: 135.19m
- Website: https://www.firstindustrial.com
Number of Employees
- First Industrial Realty Trust, Inc.
- One North Wacker Drive
- Suite 4200
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/07/04 00:00|
|End of Day Share Price||2022/07/01 00:00|
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.