First Industrial Realty Trust (NYSE:FR) Sets New 1-Year Low - Here's Why

Key Points

• First Industrial Realty Trust shares fell 1.7% to a new 52-week low of $54.20, despite revenue increasing 8.6% year over year to $197.1 million.
• Third-quarter FFO of $0.81 per share narrowly missed estimates, while reported EPS of $0.44 was well below the expected $0.82, raising concerns about the company’s development and investment pipeline.
• The company raised its 2026 outlook, citing strong leasing activity and 6.5% projected same-store NOI growth; analysts maintain a “Moderate Buy” consensus with an average price target of $69.

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) hit a new 52-week low on Friday. The company traded as low as $54.20 and last traded at $54.42, with a volume of 1,346,259 shares trading hands. The stock had previously closed at $55.29.

First Industrial Realty Trust News Roundup

Here are the key news stories impacting First Industrial Realty Trust this week:

• Positive Sentiment: Guidance increased: First Industrial raised its 2026 FFO guidance by $0.01 at the midpoint and lifted projected cash same-store NOI growth by 75 basis points at the midpoint to 6.5%. The updated full-year EPS outlook is $3.15–$3.19, broadly in line with the $3.17 consensus estimate. First Industrial Realty Trust Raises Earnings Guidance
• Positive Sentiment: Leasing momentum remained strong: Cash rental rates on new and renewal leases increased 52% in the third quarter, while cash same-store NOI grew 5.6%. The company also leased the remaining 32,000 square feet at its First Park Miami Building 12 property. First Industrial Realty Trust Reports Third Quarter 2026 Results
• Positive Sentiment: Portfolio expansion: First Industrial acquired a fully leased, 764,000-square-foot logistics building in Central Pennsylvania for $120 million, adding an occupied asset to its industrial real estate portfolio.
• Neutral Sentiment: Third-quarter revenue rose 8.6% year over year to $197.1 million, slightly exceeding estimates, and FFO improved to $0.81 per share from $0.76 a year earlier. However, the results call highlighted investor concerns about the pace and visibility of the development and investment pipeline. First Industrial Q3 2026 Earnings Call Transcript
• Negative Sentiment: Quarterly FFO missed expectations: FFO was $0.81 per share versus the $0.82 consensus estimate. Reported EPS of $0.44 was also well below the $0.82 estimate, increasing pressure on the stock, which is trading near its 52-week low. First Industrial Realty Trust Q3 FFO Misses Estimates
• Negative Sentiment: Raymond James lowered its rating to Outperform, a less bullish stance that may have added to the cautious reaction. Raymond James Rating Update

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Royal Bank Of Canada boosted their target price on First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, July 27th. Wells Fargo & Company raised their price target on First Industrial Realty Trust from $61.00 to $66.00 and gave the company an "equal weight" rating in a research note on Tuesday, September 1st. Finally, Citigroup upped their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

First Industrial Realty Trust Trading Down 1.7%

The firm has a market capitalization of $7.21 billion, a PE ratio of 19.84 and a beta of 1.03. The business's 50-day moving average price is $60.93 and its 200-day moving average price is $62.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.82 by ($0.38). First Industrial Realty Trust had a return on equity of 12.65% and a net margin of 46.12%. The company had revenue of $197.12 million for the quarter, compared to analyst estimates of $196.41 million. During the same period in the previous year, the business posted $0.76 earnings per share. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that First Industrial Realty Trust, Inc. will post 3.17 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Wednesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, September 30th. First Industrial Realty Trust's dividend payout ratio is currently 72.99%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors have recently modified their holdings of the company. Trust Co. of Vermont acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at about $39,000. Elevation Wealth Partners LLC grew its holdings in First Industrial Realty Trust by 94.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 751 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 364 shares during the period. Persistent Asset Partners Ltd acquired a new position in First Industrial Realty Trust during the second quarter worth approximately $70,000. State of Wyoming acquired a new position in First Industrial Realty Trust in the second quarter valued at $71,000. Finally, Parallel Advisors LLC increased its position in First Industrial Realty Trust by 120.8% during the 1st quarter. Parallel Advisors LLC now owns 1,382 shares of the real estate investment trust's stock worth $80,000 after purchasing an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc NYSE: FR is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.

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