Robert W. Baird Issues Positive Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

Key Points

• Robert W. Baird raised its price target on First Industrial Realty Trust (NYSE:FR) from $67 to $68 and maintained an "outperform" rating, implying roughly a 9.66% upside from the current share price.
• The stock carries a consensus rating of "Moderate Buy" (eight Buys, five Holds) with a consensus price target of $63.57 versus the recent share price around $62 and a 52‑week high of $64.66.
• FR missed quarterly EPS expectations ($0.59 vs. $0.76) despite revenue rising 7.3% year‑over‑year, and the company guided FY2026 EPS to $3.09–$3.19 (sell‑side consensus ~ $3.17).

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price target lifted by equities research analysts at Robert W. Baird from $67.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Robert W. Baird's price objective points to a potential upside of 9.66% from the stock's current price.

Several other research analysts have also commented on the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a research report on Monday. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a "sector perform" rating in a report on Monday, March 2nd. Barclays reiterated a "positive" rating and set a $64.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th. iA Financial set a $67.00 price target on First Industrial Realty Trust in a research report on Monday, January 5th. Finally, Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.57.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $62.01 on Tuesday. First Industrial Realty Trust has a fifty-two week low of $46.51 and a fifty-two week high of $64.66. The business has a 50 day moving average price of $60.65 and a two-hundred day moving average price of $58.39. The company has a quick ratio of 1.12, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The firm has a market cap of $8.22 billion, a PE ratio of 24.03 and a beta of 1.11.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). First Industrial Realty Trust had a net margin of 45.98% and a return on equity of 12.36%. The business had revenue of $188.41 million for the quarter, compared to analyst estimates of $186.20 million. During the same quarter last year, the business earned $0.71 EPS. First Industrial Realty Trust's revenue for the quarter was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. Sell-side analysts expect that First Industrial Realty Trust will post 3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HB Wealth Management LLC acquired a new stake in shares of First Industrial Realty Trust during the first quarter worth $249,000. Optas LLC grew its holdings in shares of First Industrial Realty Trust by 20.5% during the first quarter. Optas LLC now owns 5,799 shares of the real estate investment trust's stock valued at $335,000 after buying an additional 986 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of First Industrial Realty Trust by 456.7% during the first quarter. Y Intercept Hong Kong Ltd now owns 27,959 shares of the real estate investment trust's stock valued at $1,617,000 after buying an additional 22,937 shares in the last quarter. Strs Ohio grew its holdings in shares of First Industrial Realty Trust by 73.6% during the first quarter. Strs Ohio now owns 464,562 shares of the real estate investment trust's stock valued at $26,875,000 after buying an additional 196,995 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of First Industrial Realty Trust by 8.6% during the first quarter. Inspire Investing LLC now owns 8,868 shares of the real estate investment trust's stock valued at $513,000 after buying an additional 703 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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