Stock FR FIRST INDUSTRIAL REALTY TRUST, INC.
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Financials First Industrial Realty Trust, Inc.

Equities

FR

US32054K1034

Commercial REITs

Market Closed - Nyse
Other stock markets
 04:00:02 2024-04-26 pm EDT 		5-day change 1st Jan Change
46 USD -0.09% Intraday chart for First Industrial Realty Trust, Inc. +0.81% -12.66%
Apr. 25 Wedbush Downgrades First Industrial Realty Trust to Neutral From Outperform, Cuts Price Target to $49 From $59 MT
Apr. 24 JPMorgan Chase Adjusts Price Target on First Industrial Realty Trust to $53 From $59, Maintains Overweight Rating MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 5,270 5,437 8,625 6,377 6,967 6,088 - -
Enterprise Value (EV) 1 6,732 6,869 10,177 8,310 9,147 8,264 8,233 8,479
P/E ratio 22.1 x 27.5 x 31.7 x 17.7 x 25.4 x 30 x 28.1 x 25.6 x
Yield 2.22% 2.37% 1.63% 2.45% 2.43% 3.22% 3.35% 3.58%
Capitalization / Revenue 12.4 x 12.1 x 18.1 x 11.8 x 11.3 x 9.13 x 8.41 x 7.44 x
EV / Revenue 15.8 x 15.3 x 21.4 x 15.4 x 14.9 x 12.4 x 11.4 x 10.4 x
EV / EBITDA 24 x 23.1 x 32.8 x 23 x 22.2 x 18.5 x 16.6 x 15.4 x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 2.99 x 2.86 x 3.82 x 2.59 x 2.72 x 2.42 x 2.42 x -
Nbr of stocks (in thousands) 126,952 129,050 130,290 132,135 132,275 132,341 - -
Reference price 2 41.51 42.13 66.20 48.26 52.67 46.00 46.00 46.00
Announcement Date 2/12/20 2/10/21 2/9/22 2/8/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 426 448 476.3 539.9 614 666.6 724.1 818.3
EBITDA 1 280.4 296.9 310.2 361.3 411.3 447.8 494.5 550.9
EBIT 1 159.6 166.3 179.4 214 244.6 273.6 311.3 374.1
Operating Margin 37.47% 37.13% 37.67% 39.63% 39.84% 41.05% 42.99% 45.71%
Earnings before Tax (EBT) 1 231.1 198.4 282.2 290 262.3 210.9 211.7 -
Net income 1 238.8 196 271 359.1 274.8 195.1 217.9 249.9
Net margin 56.05% 43.74% 56.9% 66.52% 44.76% 29.26% 30.1% 30.54%
EPS 2 1.880 1.530 2.090 2.720 2.070 1.533 1.635 1.795
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.9200 1.000 1.080 1.180 1.280 1.480 1.541 1.645
Announcement Date 2/12/20 2/10/21 2/9/22 2/8/23 2/7/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 121.6 125.5 130 139.8 144.6 149.4 152.2 155.1 157.3 162.3 163.9 168.2 171.7 176.7 177.7
EBITDA 1 79.65 81.34 86.91 95.43 97.64 97.1 102.8 104.8 106.6 104.2 110.8 113.9 117.8 118.3 122.5
EBIT 1 46.27 47.45 50.17 57.1 58.95 57.33 61.01 62.38 63.91 61.23 69.48 72.62 75.01 74.85 77.62
Operating Margin 38.07% 37.8% 38.58% 40.86% 40.76% 38.37% 40.08% 40.22% 40.63% 37.73% 42.4% 43.17% 43.69% 42.35% 43.68%
Earnings before Tax (EBT) 1 119.7 37.06 39.66 127.1 86.2 40.31 55.26 75.94 90.81 70.28 45.05 45.41 46.77 48 52.9
Net income 1 114.4 36.23 117 123.9 82 55.92 54.64 75.01 89.2 68.41 47.14 48.54 48.66 48.95 52.34
Net margin 94.13% 28.86% 89.96% 88.65% 56.7% 37.42% 35.89% 48.36% 56.72% 42.16% 28.77% 28.86% 28.34% 27.7% 29.45%
EPS 2 0.8700 0.2700 0.8800 0.9400 0.6200 0.4200 0.4100 0.5700 0.6700 0.5200 0.3624 0.3811 0.3629 0.3800 0.3933
Dividend per Share 2 0.2700 0.2950 0.2950 0.2950 0.2950 0.3200 0.3200 0.3200 0.3200 - 0.3634 0.3634 0.3634 0.3753 0.3753
Announcement Date 2/9/22 4/20/22 7/20/22 10/19/22 2/8/23 4/19/23 7/19/23 10/18/23 2/7/24 4/17/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,462 1,433 1,551 1,933 2,180 2,176 2,145 2,392
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.216 x 4.824 x 5.001 x 5.35 x 5.302 x 4.86 x 4.338 x 4.341 x
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 14% 10.7% 12.9% 15% 10.9% 7.9% 7.61% -
ROA (Net income/ Total Assets) 7.17% 5.36% 6.8% 7.86% 5.43% 3.97% 4.03% -
Assets 1 3,331 3,657 3,986 4,567 5,065 4,920 5,403 -
Book Value Per Share 2 13.90 14.70 17.30 18.60 19.40 19.00 19.00 -
Cash Flow per Share - - - - - - - -
Capex - - - - - - - -
Capex / Sales - - - - - - - -
Announcement Date 2/12/20 2/10/21 2/9/22 2/8/23 2/7/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for First Industrial Realty Trust, Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
16
Last Close Price
46 USD
Average target price
54.79 USD
Spread / Average Target
+19.10%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Industrial REITs
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  4. Financials First Industrial Realty Trust, Inc.