A Business at a Glance
0 of 5 daily views used (5 remaining). Sign up free for 10 daily views, or try AAPL for a full preview.
First Industrial Realty Trust, Inc. is a self-administered and fully integrated real estate company which owns, manages, acquires, sells, develops and redevelops industrial real estate. The Company is a Maryland corporation organized on August 10, 1993 and a real estate investment trust ("REIT") as defined in the Internal Revenue Code of 1986 (the "Code"). As of December 31, 2025, our in-service portfolio consisted of 414 industrial properties, located in 19 states, containing an aggregate of approximately 69.9 million square feet of gross leasable area ("GLA"). We began operations on July 1, 1994. The Company's operations are conducted primarily through the Operating Partnership, a Delaware limited partnership formed on November 23, 1993 of which the Company is the sole general partner (the "General Partner"), with an approximate 97.0% ownership interest ("General Partner Units") at December 31, 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 727M | 727M | 670M | 614M | 540M | 476M |
| Net Income | 247M | 247M | 287M | 275M | 359M | 271M |
| EPS | $1.87 | $1.87 | $2.17 | $2.07 | $2.72 | $2.09 |
| Free Cash Flow | 115M | 115M | 306M | 249M | 106M | -86M |
| ROIC | 8.8% | 8.7% | 9.7% | 9.7% | 13.1% | 12.9% |
| Gross Margin | 48.2% | 48.2% | 47.0% | 46.5% | 46.1% | 44.9% |
| Debt/Equity | 0.41 | 0.41 | 0.45 | 0.48 | 0.43 | 0.24 |
| Dividends/Share | $1.75 | $1.78 | $1.48 | $1.28 | $1.18 | $1.08 |
| Operating Income | 347M | 347M | 376M | 358M | 431M | 320M |
| Operating Margin | 47.8% | 47.8% | 56.2% | 58.2% | 79.9% | 67.1% |
| ROE | 9.3% | 9.3% | 11.0% | 10.9% | 15.4% | 13.2% |
| Shares Outstanding | 132M | 132M | 132M | 133M | 132M | 130M |
FIRST INDUSTRIAL REALTY TRUST INC passes 4 of 9 quality checks, suggesting mixed fundamentals.
FIRST INDUSTRIAL REALTY TRUST INC trades at 32.3x trailing earnings, compared to its 15-year median P/E of 21.4x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 20.5x vs a median of 37.2x. The company's 5-year average ROIC is 10.8% with a gross margin of 46.5%. Total shareholder yield (dividends) is 2.9%. At current prices, the estimated annualized return to fair value is +9.2%.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a current P/E ratio of 32.3, compared to its historical median P/E of 21.4. The stock is currently considered Expensive based on its historical valuation range.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a 5-year average return on invested capital (ROIC) of 10.8%. This indicates solid capital allocation.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a market capitalization of $8.0B. It is classified as a mid-cap stock.
Yes, FIRST INDUSTRIAL REALTY TRUST INC (FR) pays a dividend with a trailing twelve-month yield of 2.89%.
Based on historical P/E analysis, FIRST INDUSTRIAL REALTY TRUST INC (FR) appears expensive. The current P/E of 32.3 is 51% above its historical median of 21.4. The estimated fair value CAGR (P/E method) is 5.7%.
FIRST INDUSTRIAL REALTY TRUST INC (FR) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
FIRST INDUSTRIAL REALTY TRUST INC (FR) reported annual revenue of $727 million in its most recent fiscal year, based on SEC EDGAR filings.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a net profit margin of 34.0%. This is a strong margin indicating high profitability.
FIRST INDUSTRIAL REALTY TRUST INC (FR) generated $115 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a debt-to-equity ratio of 0.41. This indicates a conservatively financed balance sheet.
FIRST INDUSTRIAL REALTY TRUST INC (FR) reported earnings per share (EPS) of $1.87 in its most recent fiscal year.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a return on equity (ROE) of 9.3%. This indicates moderate shareholder returns.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a 5-year average gross margin of 46.5%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for FIRST INDUSTRIAL REALTY TRUST INC (FR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST INDUSTRIAL REALTY TRUST INC (FR) has a book value per share of $20.20, based on its most recent annual SEC filing.