First Industrial Realty Trust Reports 2025 Financial Highlights

Written by Emily J. Thompson, Senior Investment Analyst

Source: PRnewswire

Updated: 4d ago

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FR+0.07%

Should l Buy FR?

Source: PRnewswire

Earnings Per Share Growth: First Industrial Realty Trust reported a fourth-quarter EPS of $0.59 for 2025, up 13.5% from $0.52 a year ago, although the full-year EPS declined to $1.87, indicating resilience amid market uncertainties.
Funds From Operations Performance: The fourth-quarter FFO per share was $0.77, an 8.5% increase from $0.71 a year earlier, with a full-year FFO growth of 11.7% to $2.96, reflecting the company's stable performance in a volatile leasing market.
Dividend Increase: The board declared a quarterly dividend of $0.50 per share for Q1 2026, representing a 12.4% increase from the previous rate of $0.445, which not only enhances shareholder returns but also signals confidence in future cash flows.
Rental Growth Outlook: The company anticipates a 35% growth in cash rental rates for new and renewal leases in 2026, showcasing improved market demand and the company's competitive position in the leasing market.

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Analyst Views on FR

Wall Street analysts forecast FR stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FR is 54.88 USD with a low forecast of 51.00 USD and a high forecast of 59.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

8 Analyst Rating

5 Buy

3 Hold

0 Sell

Moderate Buy

Current: 59.750

Low

51.00

Averages

54.88

High

59.00

Current: 59.750

Low

51.00

Averages

54.88

High

59.00

Cantor Fitzgerald

Neutral

maintain

$58 -> $64

2026-02-06

New

Reason

Cantor Fitzgerald

Price Target

$58 -> $64

AI Analysis

2026-02-06

New

maintain

Neutral

Reason

Cantor Fitzgerald raised the firm's price target on First Industrial Realty to $64 from $58 and keeps a Neutral rating on the shares. Industrial REITs are generally providing 2026 guidance that balances realism with the potential for beat-and-raise results, the analyst tells investors in a research note. Performance is expected to be stronger nationwide, supported by tenants committing to long-term leases and relatively short development cycles that help limit lingering supply pressures, though Southern California remains an outlier, the firm says.

Truist

Buy

maintain

$60 -> $65

2026-01-20

Reason

Truist

Price Target

$60 -> $65

2026-01-20

maintain

Buy

Reason

Truist raised the firm's price target on First Industrial Realty to $65 from $60 and keeps a Buy rating on the shares. The firm adjusted ratings and targets in the real estate investment trust group as part of its 2026 outlook. Truist remains Neutral on REITs for 2026, saying fundamentals are improving as new supply slows and demand appears steady for high-quality assets. However, the stocks do not appear particularly cheap, the analyst tells investors in a research note. Truist is relatively bullish on healthcare, industrial, strip retail, gaming and lodging REITs, neutral on manufactured housing, multifamily, self-storage and triple net, and relatively cautious on mall and office.

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About FR

First Industrial Realty Trust, Inc. is a provider of industrial real estate. The Company owns, operates, develops and acquires logistics properties. The Company, through its fully integrated operating and investing platform, provides facilities and customer service to multinational corporations and regional firms that are essential for their supply chains. Its portfolio and new investments are concentrated in 15 target MSAs with an emphasis on supply-constrained, coastally oriented markets. The Company owns and has under development approximately 69.5 million square feet of industrial space. Its tenants are engaged in a variety of businesses, including e-commerce, third-party logistics and transportation, consumer and other manufactured products, retail and consumer services, food and beverage, lumber and building materials, wholesale goods, health services, governmental and other. Through a wholly owned TRS of the Operating Partnership, it owns an equity interest in a joint venture.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

First Industrial Realty Trust Q4 2025 Earnings Call Highlights

3 days agoseekingalpha

Significant Rent Growth: In Q4 2025, cash rental rate growth reached 32%, with a remarkable 37% increase excluding a large fixed-rate renewal, and the company anticipates maintaining a growth range of 30% to 40% in 2026, indicating strong performance in the leasing market and enhanced future profitability.
Robust Financial Performance: The FFO per share for 2025 was $2.96, reflecting a 12% year-over-year increase, while Q4 FFO stood at $0.77, exceeding market expectations, showcasing the company's resilience and profitability in a volatile economic environment.
Expansion Investments: The company acquired a fully leased 968,000 square foot building in Phoenix for $125 million and constructed a new 117,000 square foot facility in Baltimore for $31 million, with a combined stabilized cash yield of 6.3%, demonstrating strategic asset growth.
Optimistic Future Outlook: Management expects cash same-store NOI growth of 5% to 6% for 2026 and plans to complete 1.7 million square feet of development projects in the second half of the year, reflecting the company's proactive positioning and growth potential in the market.

First Industrial Realty Trust Increases Quarterly Dividend by 12.4%

3 days agoseekingalpha

Quarterly Dividend Increase: First Industrial Realty Trust declared a quarterly dividend of $0.50 per share, representing a 12.4% increase from the previous $0.445, demonstrating the company's ongoing commitment to stable cash flow and shareholder returns.
Earnings Beat Expectations: The company reported a funds from operations (FFO) of $0.77 per share, exceeding market expectations by $0.01, indicating continuous improvement in operational efficiency and profitability, which boosts investor confidence.
Revenue Growth: First Industrial's quarterly revenue reached $188.4 million, surpassing the expected $186.2 million, reflecting strong demand in the logistics real estate market and effective asset management strategies.
Stable Dividend Yield: The forward yield of 3.42% from this dividend provides investors with a reliable cash flow, further solidifying its attractiveness in the real estate investment trust (REIT) market.

First Industrial Realty Trust Q4 Earnings Exceed Expectations

4 days agoseekingalpha

Strong Financial Performance: First Industrial Realty Trust reported a Q4 FFO of $0.77 per share, beating expectations by $0.01, indicating the company's robust performance in the market.
Significant Revenue Growth: The company achieved Q4 revenue of $188.4 million, a 7.3% year-over-year increase, surpassing market expectations by $2.2 million, reflecting strong demand in the logistics real estate sector.
Positive Future Outlook: The guidance for net income in 2026 ranges from $1.58 to $1.68 per share, demonstrating the company's confidence in future earnings and likely attracting continued investor interest.
Operational Efficiency Improvement: With ongoing depreciation and other real estate amortization, the expected NAREIT funds from operations are projected to be between $3.09 and $3.19 per share, further solidifying its competitive position in the industry.