NYSE:FR

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First Industrial Realty Trust

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


Snowflake Analysis

Acceptable track record second-rate dividend payer.


Similar Companies

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.2%

FR

-1.2%

US REITs

-0.8%

US Market


1 Year Return

1.7%

FR

-14.9%

US REITs

18.0%

US Market

Return vs Industry: FR exceeded the US REITs industry which returned -15.9% over the past year.

Return vs Market: FR underperformed the US Market which returned 17.8% over the past year.


Shareholder returns

FRIndustryMarket
7 Day0.2%-1.2%-0.8%
30 Day6.8%4.2%6.8%
90 Day2.2%1.9%8.9%
1 Year4.5%1.7%-11.5%-14.9%20.7%18.0%
3 Year46.3%35.0%14.6%1.1%41.5%32.1%
5 Year121.9%93.3%39.7%11.8%84.6%63.8%

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

Valuation

Is First Industrial Realty Trust undervalued compared to its fair value and its price relative to the market?

25.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FR ($41.91) is trading above our estimate of fair value ($38.7)

Significantly Below Fair Value: FR is trading above our estimate of fair value.


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 (34.5x).

PE vs Market: FR is poor value based on its PE Ratio (25.5x) compared to the US market (18.9x).


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 (3x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is First Industrial Realty Trust forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

-4.2%

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 (-4.2% per year).

Earnings vs Market: FR's earnings are forecast to decline over the next 3 years (-4.2% per year).

High Growth Earnings: FR's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FR's revenue (4.3% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: FR's revenue (4.3% 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 (6.9%).


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 $114.8M impacting its September 30 2020 financial results.

Growing Profit Margin: FR's current net profit margins (48.4%) 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 1.6%.


Return on Equity

High ROE: FR's Return on Equity (11.9%) 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 ($188.3M) exceed its short term liabilities ($116.7M).

Long Term Liabilities: FR's short term assets ($188.3M) do not cover its long term liabilities ($1.7B).


Debt to Equity History and Analysis

Debt Level: FR's debt to equity ratio (91.6%) is considered high.

Reducing Debt: FR's debt to equity ratio has reduced from 137.4% to 91.6% over the past 5 years.

Debt Coverage: FR's debt is not well covered by operating cash flow (14.8%).

Interest Coverage: FR's interest payments on its debt are not well covered by EBIT (2.8x 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 (1.65%).

High Dividend: FR's dividend (2.39%) is low compared to the top 25% of dividend payers in the US market (4.67%).


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 (51.6%), 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?

3.8yrs

Average management tenure


CEO

Peter Baccile (58 yo)

3.83yrs

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 ($USD4.36M) is below average for companies of similar size in the US market ($USD7.32M).

Compensation vs Earnings: Peter's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Peter Baccile
President3.83yrsUS$4.36m0.041%
$ 2.2m
Johannson Yap
Co-Founderno dataUS$2.07m0.20%
$ 10.8m
Scott Musil
CFO, Senior VP11.83yrsUS$1.24m0.076%
$ 4.1m
David Harker
Executive Vice President of Central Region11.58yrsUS$1.19m0.10%
$ 5.5m
Peter Schultz
Executive Vice President of East Region11.58yrsUS$1.12m0.082%
$ 4.4m
Christopher Schneider
Senior VP of Operations & Chief Information Officerno datano datano data
Sara Niemiec
Chief Accounting Officer3.75yrsno datano data
Arthur Harmon
Vice President of Investor Relations & Marketingno datano datano data
Jennifer Matthews Rice
General Counsel & Secretary1.75yrsno datano data
Adam Moore
Senior Regional Director of Chicago - Milwaukee3.75yrsno datano data

3.8yrs

Average Tenure

57yo

Average Age

Experienced Management: FR's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Peter Baccile
President3.83yrsUS$4.36m0.041%
$ 2.2m
John Rau
Lead Independent Director4.75yrsUS$189.00k0.051%
$ 2.7m
Matthew Dominski
Independent Chairman0.25yrUS$153.50k0.025%
$ 1.3m
Teresa A. Bazemore
Independent Director0.42yrno datano data
Denise Olsen
Independent Director2.92yrsUS$156.50k0.0017%
$ 91.6k
H. Hackett
Independent Director10.83yrsUS$183.50k0.030%
$ 1.6m
Leonard Sharpe
Independent Director9.92yrsUS$169.00k0.053%
$ 2.8m

4.1yrs

Average Tenure

65yo

Average Age

Experienced Board: FR's board of directors are considered experienced (4.1 years average tenure).


Ownership

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

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$5.388b
  • Market Cap: US$5.331b
  • Shares outstanding: 129.92m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRNYSE (New York Stock Exchange)YesCommon StockUSUSDJun 1994
F5WDB (Deutsche Boerse AG)YesCommon StockDEEURJun 1994
FR.PRKCNYSE (New York Stock Exchange)PFD K 7.25%USUSDAug 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 00:37
End of Day Share Price2020/10/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.