(FR) First Industrial Realty - Ratings and Ratios
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US32054K1034
Industrial, Warehouse, Logistics, Distribution
Dividends
| Dividend Yield | 3.67% |
| Yield on Cost 5y | 5.94% |
| Yield CAGR 5y | 10.30% |
| Payout Consistency | 83.6% |
| Payout Ratio | 99.4% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 22.5% |
| Value at Risk 5%th | 35.6% |
| Relative Tail Risk | -3.86% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.51 |
| Alpha | 5.03 |
| CAGR/Max DD | 0.33 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.476 |
| Beta | 0.802 |
| Beta Downside | 0.944 |
| Drawdowns 3y | |
|---|---|
| Max DD | 25.42% |
| Mean DD | 7.27% |
| Median DD | 5.72% |
Description: FR First Industrial Realty November 05, 2025
First Industrial Realty Trust, Inc. (NYSE: FR) is a U.S.-focused REIT that owns, operates, develops, and acquires logistics facilities. The company’s integrated platform serves multinational and regional customers with high-quality warehouses that underpin modern supply chains, concentrating its assets in 15 “supply-constrained” metropolitan areas that are strategically located near coastal gateways.
As of September 30 2025, FR’s portfolio comprises roughly 70.4 million sq ft of industrial space, of which about 96 % is occupied-a metric that has consistently outperformed the industry average of 92 % over the past three years. The REIT reported a 2024 adjusted FFO of $0.55 per share and maintains a net debt-to-EBITDA ratio near 0.85×, indicating modest leverage relative to peers. Key sector drivers include sustained e-commerce growth, reshoring of inventory, and a persistent shortage of developable land in coastal markets, all of which support rent-price acceleration and limited new supply.
For a deeper, data-rich analysis of FR’s valuation dynamics, you may find ValueRay’s research platform a useful next step.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income (236.9m TTM) > 0 and > 6% of Revenue (6% = 42.8m TTM) |
| FCFTA 0.08 (>2.0%) and ΔFCFTA 5.46pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -3.48% (prev 6.12%; Δ -9.60pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.08 (>3.0%) and CFO 437.3m > Net Income 236.9m (YES >=105%, WARN >=100%) |
| Net Debt (2.97b) to EBITDA (501.7m) ratio: 5.93 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.90 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (132.5m) change vs 12m ago 0.06% (target <= -2.0% for YES) |
| Gross Margin 73.57% (prev 72.83%; Δ 0.73pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 13.33% (prev 12.61%; Δ 0.73pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 3.63 (EBITDA TTM 501.7m / Interest Expense TTM 85.3m) >= 6 (WARN >= 3) |
Altman Z'' 0.57
| (A) -0.00 = (Total Current Assets 218.0m - Total Current Liabilities 242.9m) / Total Assets 5.51b |
| (B) 0.04 = Retained Earnings (Balance) 211.0m / Total Assets 5.51b |
| (C) 0.06 = EBIT TTM 310.0m / Avg Total Assets 5.35b |
| (D) 0.08 = Book Value of Equity 217.5m / Total Liabilities 2.77b |
| Total Rating: 0.57 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 65.25
| 1. Piotroski 5.50pt |
| 2. FCF Yield 4.02% |
| 3. FCF Margin 61.26% |
| 4. Debt/Equity 1.13 |
| 5. Debt/Ebitda 5.93 |
| 6. ROIC - WACC (= -0.51)% |
| 7. RoE 8.93% |
| 8. Rev. Trend 97.68% |
| 9. EPS Trend -31.74% |
What is the price of FR shares?
As of December 11, 2025, the stock is trading at USD 58.58 with a total of 649,501 shares traded.
Over the past week, the price has changed by +4.74%, over one month by +4.55%, over three months by +15.66% and over the past year by +15.87%.
Over the past week, the price has changed by +4.74%, over one month by +4.55%, over three months by +15.66% and over the past year by +15.87%.
Is FR a buy, sell or hold?
First Industrial Realty has received a consensus analysts rating of 3.83.
Therefore, it is recommended to buy FR.
- Strong Buy: 6
- Buy: 3
- Hold: 9
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the FR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 59.7 | 1.9% |
| Analysts Target Price | 59.7 | 1.9% |
| ValueRay Target Price | 62.9 | 7.4% |
FR Fundamental Data Overview December 09, 2025
Market Cap USD = 7.90b (7.90b USD * 1.0 USD.USD)
P/E Trailing = 32.3184
P/E Forward = 36.7647
P/S = 11.0595
P/B = 2.8893
P/EG = 3.74
Beta = 1.143
Revenue TTM = 713.8m USD
EBIT TTM = 310.0m USD
EBITDA TTM = 501.7m USD
Long Term Debt = 2.40b USD (from longTermDebt, last quarter)
Short Term Debt = 2.64m USD (from shortTermDebt, last fiscal year)
Debt = 3.01b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.97b USD (from netDebt column, last quarter)
Enterprise Value = 10.87b USD (7.90b + Debt 3.01b - CCE 33.5m)
Interest Coverage Ratio = 3.63 (Ebit TTM 310.0m / Interest Expense TTM 85.3m)
FCF Yield = 4.02% (FCF TTM 437.3m / Enterprise Value 10.87b)
FCF Margin = 61.26% (FCF TTM 437.3m / Revenue TTM 713.8m)
Net Margin = 33.19% (Net Income TTM 236.9m / Revenue TTM 713.8m)
Gross Margin = 73.57% ((Revenue TTM 713.8m - Cost of Revenue TTM 188.7m) / Revenue TTM)
Gross Margin QoQ = 74.54% (prev 74.66%)
Tobins Q-Ratio = 1.97 (Enterprise Value 10.87b / Total Assets 5.51b)
Interest Expense / Debt = 0.72% (Interest Expense 21.7m / Debt 3.01b)
Taxrate = 0.28% (192.0k / 67.6m)
NOPAT = 309.1m (EBIT 310.0m * (1 - 0.28%))
Current Ratio = 0.90 (Total Current Assets 218.0m / Total Current Liabilities 242.9m)
Debt / Equity = 1.13 (Debt 3.01b / totalStockholderEquity, last quarter 2.65b)
Debt / EBITDA = 5.93 (Net Debt 2.97b / EBITDA 501.7m)
Debt / FCF = 6.80 (Net Debt 2.97b / FCF TTM 437.3m)
Total Stockholder Equity = 2.65b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.30% (Net Income 236.9m / Total Assets 5.51b)
RoE = 8.93% (Net Income TTM 236.9m / Total Stockholder Equity 2.65b)
RoCE = 6.13% (EBIT 310.0m / Capital Employed (Equity 2.65b + L.T.Debt 2.40b))
RoIC = 6.18% (NOPAT 309.1m / Invested Capital 5.00b)
WACC = 6.70% (E(7.90b)/V(10.90b) * Re(8.97%) + D(3.01b)/V(10.90b) * Rd(0.72%) * (1-Tc(0.00)))
Discount Rate = 8.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.05%
[DCF Debug] Terminal Value 70.16% ; FCFE base≈314.0m ; Y1≈243.0m ; Y5≈154.4m
Fair Price DCF = 18.66 (DCF Value 2.47b / Shares Outstanding 132.4m; 5y FCF grow -26.91% → 3.0% )
EPS Correlation: -31.74 | EPS CAGR: -14.19% | SUE: 0.67 | # QB: 0
Revenue Correlation: 97.68 | Revenue CAGR: 11.27% | SUE: -0.42 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.40 | Chg30d=+0.010 | Revisions Net=+0 | Analysts=3
EPS next Year (2026-12-31): EPS=1.73 | Chg30d=+0.037 | Revisions Net=+1 | Growth EPS=+3.6% | Growth Revenue=+6.7%
P/E Trailing = 32.3184
P/E Forward = 36.7647
P/S = 11.0595
P/B = 2.8893
P/EG = 3.74
Beta = 1.143
Revenue TTM = 713.8m USD
EBIT TTM = 310.0m USD
EBITDA TTM = 501.7m USD
Long Term Debt = 2.40b USD (from longTermDebt, last quarter)
Short Term Debt = 2.64m USD (from shortTermDebt, last fiscal year)
Debt = 3.01b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.97b USD (from netDebt column, last quarter)
Enterprise Value = 10.87b USD (7.90b + Debt 3.01b - CCE 33.5m)
Interest Coverage Ratio = 3.63 (Ebit TTM 310.0m / Interest Expense TTM 85.3m)
FCF Yield = 4.02% (FCF TTM 437.3m / Enterprise Value 10.87b)
FCF Margin = 61.26% (FCF TTM 437.3m / Revenue TTM 713.8m)
Net Margin = 33.19% (Net Income TTM 236.9m / Revenue TTM 713.8m)
Gross Margin = 73.57% ((Revenue TTM 713.8m - Cost of Revenue TTM 188.7m) / Revenue TTM)
Gross Margin QoQ = 74.54% (prev 74.66%)
Tobins Q-Ratio = 1.97 (Enterprise Value 10.87b / Total Assets 5.51b)
Interest Expense / Debt = 0.72% (Interest Expense 21.7m / Debt 3.01b)
Taxrate = 0.28% (192.0k / 67.6m)
NOPAT = 309.1m (EBIT 310.0m * (1 - 0.28%))
Current Ratio = 0.90 (Total Current Assets 218.0m / Total Current Liabilities 242.9m)
Debt / Equity = 1.13 (Debt 3.01b / totalStockholderEquity, last quarter 2.65b)
Debt / EBITDA = 5.93 (Net Debt 2.97b / EBITDA 501.7m)
Debt / FCF = 6.80 (Net Debt 2.97b / FCF TTM 437.3m)
Total Stockholder Equity = 2.65b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.30% (Net Income 236.9m / Total Assets 5.51b)
RoE = 8.93% (Net Income TTM 236.9m / Total Stockholder Equity 2.65b)
RoCE = 6.13% (EBIT 310.0m / Capital Employed (Equity 2.65b + L.T.Debt 2.40b))
RoIC = 6.18% (NOPAT 309.1m / Invested Capital 5.00b)
WACC = 6.70% (E(7.90b)/V(10.90b) * Re(8.97%) + D(3.01b)/V(10.90b) * Rd(0.72%) * (1-Tc(0.00)))
Discount Rate = 8.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.05%
[DCF Debug] Terminal Value 70.16% ; FCFE base≈314.0m ; Y1≈243.0m ; Y5≈154.4m
Fair Price DCF = 18.66 (DCF Value 2.47b / Shares Outstanding 132.4m; 5y FCF grow -26.91% → 3.0% )
EPS Correlation: -31.74 | EPS CAGR: -14.19% | SUE: 0.67 | # QB: 0
Revenue Correlation: 97.68 | Revenue CAGR: 11.27% | SUE: -0.42 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.40 | Chg30d=+0.010 | Revisions Net=+0 | Analysts=3
EPS next Year (2026-12-31): EPS=1.73 | Chg30d=+0.037 | Revisions Net=+1 | Growth EPS=+3.6% | Growth Revenue=+6.7%
Additional Sources for FR Stock
News:
Wall Street Journal |
Benzinga |
Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle