First Industrial Realty Trust (NYSE:FR) Sets New 12-Month Low on Analyst Downgrade

First Industrial Realty Trust, Inc. (NYSE:FR)’s stock price hit a new 52-week low during mid-day trading on Friday after Raymond James Financial downgraded the stock from a strong-buy rating to a moderate buy rating. Raymond James Financial now has a $71.00 price target on the stock. First Industrial Realty Trust 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.

A number of other research firms have also recently commented on FR. UBS Group set a $71.00 target price on First Industrial Realty Trust in a research note on Friday. Robert W. Baird lifted their price target on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $72.00 to $62.00 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings cut shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Truist Financial increased their price objective on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

First Industrial Realty Trust News Summary

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

• Positive Sentiment: Management raised or reaffirmed a constructive FY 2026 outlook, providing EPS guidance of $3.15–$3.19 versus the $3.17 analyst consensus. The update suggests expected earnings remain broadly on track despite the quarterly shortfall. First Industrial Realty Trust Raises Earnings Guidance
• Positive Sentiment: Third-quarter revenue increased 8.6% year over year to approximately $197.1 million, slightly exceeding expectations. FFO was $0.81 per share, up from $0.76 a year earlier, indicating continued underlying growth. First Industrial Realty Trust Q3 FFO Miss Estimates
• Neutral Sentiment: Raymond James moved its rating to “Outperform.” Although the change represents a downgrade from its prior view, the firm remains bullish on FR’s shares. Raymond James Rating Update
• Negative Sentiment: FFO of $0.81 per share narrowly missed the $0.82 consensus estimate, while reported EPS of $0.44 was well below the $0.82 forecast. The earnings miss is weighing on sentiment despite the revenue beat. First Industrial Realty Trust Third-Quarter Results
• Negative Sentiment: Investors remain concerned about the pace and visibility of future development activity, raising questions about the company’s growth pipeline. Those concerns appear to be offsetting the benefits of the higher full-year guidance. First Industrial Realty Trust Stock Price Falls as Q3 Results Raise Pipeline Questions

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds have recently added to or reduced their stakes in FR. BlackRock Inc. bought a new stake in shares of First Industrial Realty Trust in the 2nd quarter worth $1,021,489,000. Dimensional Fund Advisors LP raised its stake in shares of First Industrial Realty Trust by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,025,484 shares of the real estate investment trust’s stock worth $117,173,000 after purchasing an additional 40,101 shares during the last quarter. Deutsche Bank AG bought a new position in shares of First Industrial Realty Trust during the second quarter valued at $79,730,000. Artemis Investment Management LLP lifted its holdings in shares of First Industrial Realty Trust by 0.5% during the third quarter. Artemis Investment Management LLP now owns 1,244,218 shares of the real estate investment trust’s stock valued at $74,081,000 after purchasing an additional 6,732 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of First Industrial Realty Trust by 27.1% during the first quarter. Quantinno Capital Management LP now owns 1,217,721 shares of the real estate investment trust’s stock valued at $70,445,000 after purchasing an additional 259,476 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 1.06 and a quick ratio of 1.44. The company has a market capitalization of $7.22 billion, a PE ratio of 20.25 and a beta of 1.03. The firm has a 50-day moving average of $60.76 and a 200 day moving average of $62.29.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.38). First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. The business had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. During the same quarter in the previous year, the business posted $0.76 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that First Industrial Realty Trust, Inc. will post 3.16 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th were paid a $0.50 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.7%. First Industrial Realty Trust’s payout ratio is currently 74.35%.

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.