# First Industrial Realty Trust Inc. (FR) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Real Estate / Equity Real Estate Investment Trusts (REITs). Price $61.85, market value $8.5 billion.

## Valuation
- **P/E (trailing): 22.5×** (5-yr avg 23.9×, 3-yr avg 25.2×). First Industrial Realty Trust Inc. trades at 22.5× trailing earnings, close to its own five-year average of 23.9×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 33.2×, higher than trailing, so analysts expect earnings to fall.
- **Price / sales: 11.2×**. Each dollar of revenue is priced at 11.2×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 3.0×**. The shares trade at 3.0× book value; book value is a meaningful part of the valuation.
- **Earnings yield: 4.4%**. The inverse of the P/E: 4.4% of the price is earned each year.

## Profitability
- **Net margin: 34.0%**. 34.0% of each dollar of sales reaches the bottom line.
- **Return on equity: 9.3%**. 9.3% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 6.4%**. Each dollar of assets produces 6.4% of profit.

## Growth
- **Revenue growth (1 yr): 8.6%** (3-yr 10.4%/yr, 5-yr 10.2%/yr). Revenue grew 8.6% over the last year, against 10.2% a year compounded over five years.
- **EPS growth (1 yr): -13.8%** (3-yr -11.7%/yr, 5-yr 4.1%/yr). Earnings per share fell 13.8%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.49**. Debt is 0.49 times equity: a conservative balance sheet.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 3.23%** ($1.89 per share, trailing). First Industrial Realty Trust Inc. yields 3.23%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 93%**. 93% of earnings goes out as dividends, leaving a thin cushion.
- **Consecutive years of increases: 13**. 13 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 12.2%/yr** (1-yr 20.3%). The dividend has compounded at 12.2% a year over five years, doubling roughly every 6 years at that pace.

## Analyst view
- **Analyst consensus: buy** (16 analysts). 16 analysts cover First Industrial Realty Trust Inc.; the consensus is buy, with an average price target of $71.94 (+16% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 22.9%** (YTD 9.8%, 3-mo 1.2%). The shares are up 22.9% over twelve months including dividends.
- **From 52-week high: -11.5%** (23.1% above the low). Trading 11% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 0.45** (volatility 19%). Beta of 0.45 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FR · Page: https://foliofundamentals.com/stocks/fr

Not investment advice.