First Industrial Realty Trust

FR · NYSE

$59.19+$1.00 (+1.72%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $58.19

FR analyst rating

BuyConsensus of 12 analysts over the last 12 months. 50% rate it a buy.

Strong buy0
Buy6
Hold6
Underperform0
Sell0

12-month price target · 20 analysts

Average $73.58 (+24.3% upside)

Low: $66.66
Now: $59.19
High: $90.30

Upgrades and downgrades

The latest rating actions, newest first

FR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Sep 1, 2026	Maintains	Equal-Weight	$61.00 → $66.00	42%
Scotiabank	Aug 12, 2026	Maintains	Sector Perform	$63.00 → $66.00	47%
RBC Capital	Aug 3, 2026	Maintains	Outperform	$68.00 → $75.00	58%
Baird	Jul 29, 2026	Maintains	Outperform	$71.00 → $74.00	53%
Citigroup	Jul 28, 2026	Maintains	Neutral	$63.00 → $72.00	44%
Truist Securities	Jul 28, 2026	Maintains	Buy	$67.00 → $73.00	45%
Barclays	Jul 16, 2026	Maintains	Equal-Weight	$64.00 → $69.00	40%
Raymond James	Jun 18, 2026	Initiates	Strong Buy	$83.00	53%
Wells Fargo	Jun 1, 2026	Maintains	Equal-Weight	$63.00 → $61.00	42%
Truist Securities	May 15, 2026	Maintains	Buy	$66.00 → $67.00	45%

The case for and against

Updated Aug 9, 2026

Bull case

First Industrial Realty is expected to have attractive financial metrics and trade at a discount to its stock price. Their diverse tenant base and strong track record in essential industries make the company a solid long-term investment option. Despite potential risks such as market saturation and declining demand, the company's strong fundamentals and low financial leverage make it a buy-rated stock with an 11.5% potential total return.

Bear case

First Industrial Realty is rated as a Buy by investors, but from a financial analyst's point of view, the fundamental reasons for a negative outlook on the stock are evident. The company's cash yield profile and growth opportunities may not be sustainable, their management team may not be able to effectively utilize equity capital, external growth prospects may not be significant, and their balance sheet could be weak. Additionally, the company's FFO estimates are below consensus and their price target is based on a high discount rate, low terminal growth rate, and relatively low cap rate.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.