First Industrial Realty Trust
About: First Industrial Realty Trust Inc is a real estate investment trust that owns, manages, acquires, sells, develops, and redevelops industrial real estate. First Industrial's real estate portfolio is comprised of light industrial properties, which are split between industrial and office space, and bulk warehouse properties generally located in business parks near transportation hubs. While light industrial buildings represent a share of First Industrial's holdings, bulk warehouses make up the majority of its portfolio's square footage. The company derives the vast majority of its revenue from rental income tied to medium-term leases. First Industrial's customers include manufacturing, retail, wholesale trade, distribution, and professional services companies.
Employees: 156
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
66% more call options, than puts
Call options by funds: $1.56M | Put options by funds: $935K
36% more first-time investments, than exits
New positions opened: 49 | Existing positions closed: 36
14% more repeat investments, than reductions
Existing positions increased: 156 | Existing positions reduced: 137
13% more capital invested
Capital invested by funds: $6.08B [Q2] → $6.89B (+$803M) [Q3]
3% more funds holding
Funds holding: 380 [Q2] → 393 (+13) [Q3]
3.56% less ownership
Funds ownership: 96.75% [Q2] → 93.19% (-3.56%) [Q3]
17% less funds holding in top 10
Funds holding in top 10: 6 [Q2] → 5 (-1) [Q3]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$55
8%
upside
Avg. target
$55
8%
upside
High target
$55
8%
upside
1 analyst rating
0 positive
0%
1 neutral
100%
0 negative
0%
Barclays Anthony Powell 48% 1-year accuracy 14 / 29 met price target | 8%upside $55 | Equal-Weight Maintained | 18 Nov 2024 |
Financial journalist opinion
Based on 4 articles about FR published over the past 30 days
Neutral
Seeking Alpha
1 week ago
First Industrial Realty: A Top Industrial Pick With Solid Upside Potential
REITs have faced challenges but now trade at attractive valuations with solid upside potential over the next 1 to 2 years. Industrial REITs, especially in Southern California, have experienced downward pressure but maintain strong fundamentals despite market volatility. First Industrial Realty Trust is a fundamentally sound industrial REIT with significant long-term upside potential.
Neutral
Seeking Alpha
2 weeks ago
Sector Spotlight: Industrial REITs - Still A Real Estate Darling?
The industrial REIT sector has seen significant price corrections due to changing macroeconomic factors, making current pricing more investible. Investor enthusiasm has waned, reflected in falling AFFO multiples from 35.5x in 2021 to 20.5x recently. Despite strong demand, new supply has suppressed rent growth and occupancy, leading to tepid SSNOI growth.
Positive
Seeking Alpha
2 weeks ago
12 REITs Poised For Potential Outperformance
As REIT prices rise, high-yield opportunities dwindle, making this a good time to focus on dividend growth for better long-term returns. Dividend growth stocks, despite lower initial yields, can surpass higher-yielding stocks over time, offering better yield on cost. Dividend growers often outperform the REIT average in total returns, driven by strong AFFO growth and superior gains in stock price.
Positive
Seeking Alpha
3 weeks ago
3 Once-In-A-Decade REIT Buying Opportunities
REITs are presenting a historic opportunity. Their valuations are the lowest since the great financial crisis. We present 3 REITs offering significant upside potential.
Positive
Seeking Alpha
1 month ago
First Industrial: Still Attractive Despite Policy Risk
First Industrial Realty has shown solid performance, with a 26% rise in the past year and a 12% return since my last "buy" rating. Despite strong renewal lease signings and a robust balance sheet, elevated interest rates and geopolitical risks could cap FR's upside potential. FR's 2.8% dividend yield, 7+% expected dividend growth, and strong renewal activity support a "buy" rating, targeting 10% long-term returns.
Positive
Seeking Alpha
1 month ago
3 REITs With Rapid Dividend Growth
Most REITs are in a strong position to grow their dividend in 2025. But some are growing far faster than others. I discuss 3 of the fastest growing REITs.
Neutral
PRNewsWire
1 month ago
First Industrial Realty Trust Declares Common Stock Dividends
CHICAGO , Oct. 30, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of industrial real estate, today announced that its board of directors declared a common stock dividend of $0.37 per share/unit for the quarter ending December 31, 2024 payable on January 21, 2025 to stockholders of record on December 31, 2024. About First Industrial Realty Trust, Inc. First Industrial Realty Trust, Inc. (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties.
Neutral
Seeking Alpha
2 months ago
First Industrial Realty Trust, Inc. (FR) Q3 2024 Earnings Call Transcript
First Industrial Realty Trust, Inc. (NYSE:FR ) Q3 2024 Earnings Conference Call October 17, 2024 11:00 AM ET Company Participants Art Harmon - SVP, IR & Marketing Peter Baccile - President and CEO Scott Musil - CFO Christopher Schneider - EVP, Operations & CIO Peter Schultz - EVP Johannson Yap - CIO Conference Call Participants Blaine Heck - Wells Fargo Craig Mailman - Citi Vikram Malhotra - Mizuho Caitlin Burrows - Goldman Sachs Rich Anderson - Wedbush Robert Stevenson - Janney Nick Thillman - Baird Vince Tibone - Green Street Michael Mueller - JPMorgan Nicholas Yulico - Scotiabank Brendan Lynch - Barclays Operator Good day, and welcome to the First Industrial Realty Trust, Inc. Third Quarter Results Call. All participants will be in a listen-only mode.
Positive
Zacks Investment Research
2 months ago
First Industrial Realty Trust (FR) Tops Q3 FFO and Revenue Estimates
First Industrial Realty Trust (FR) came out with quarterly funds from operations (FFO) of $0.68 per share, beating the Zacks Consensus Estimate of $0.67 per share. This compares to FFO of $0.62 per share a year ago.
Neutral
PRNewsWire
2 months ago
FIRST INDUSTRIAL REALTY TRUST REPORTS THIRD QUARTER 2024 RESULTS
51% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2024; Includes 300,000 Square-Foot Southern California Renewal Cash Same Store NOI Growth of 7.6% in the Third Quarter 33% Cash Rental Rate Increase on Leases Signed To-Date Commencing in 2025 Started a 542,000 Square-Foot Development in Nashville, Estimated Investment of $54 Million Acquired Fully Leased Four-Building Portfolio in Houston for $29 Million Sold Ten Buildings for $101 Million in the Third Quarter and Fourth Quarter To-Date 2024 NAREIT FFO Guidance Increased $0.02 at the Midpoint to $2.61 to $2.65 Per Share/Unit CHICAGO , Oct. 16, 2024 /PRNewswire/ -- First Industrial Realty Trust, Inc. (NYSE: FR), a leading fully integrated owner, operator and developer of logistics real estate, today announced results for the third quarter of 2024. First Industrial's diluted net income available to common stockholders per share (EPS) was $0.75 in the third quarter, compared to $0.57 a year ago and third quarter funds from operations (FFO) was $0.68 per share/unit on a diluted basis, compared to $0.62 per share/unit a year ago.
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