FR · NYSE · STOCK
First Industrial Realty Trust (FR) Stock Analysis
$61.88
52W $50.24 – $69.88
62/100
$8.19B
22.5
1.04
⚠
Buy rating, but near-term risk/reward is unfavorable
The long-term recommendation is based on the composite investment score. The near-term risk/reward is based on nearby support and resistance levels. These can differ when a strong company trades close to resistance with support further below.
Is FR Bullish or Bearish?
Bullish.
Innellis AI committee rates First Industrial Realty Trust (FR) Buy with a composite score of 62/100
, based on 6 analysts with 67% agreement.
Last updated September 20, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +13.20 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -6.80 from today. The band boundary is 60.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
Supporting evidence favours the bullish case. Most analysts agree, and no major concerns are blocking a stronger rating.
Bull & Bear Case
Bull Case
- Dividend yield of 2.9% pays you to wait — Value
- EPS growing 34.2% YoY — Growth
- 5 consecutive earnings beats -- consistent execution — Growth
- MACD histogram positive -- bullish momentum — Technical
Bear Case
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- No news coverage in the last 14 days -- limited independent confirmation either way — News
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of September 20, 2026
Overall Committee Score
62/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 8%
of 80 Real Estate peers
Value Analyst
neutral
58
/ 100 · Moderate confidence
Fair value -- neither a bargain nor obviously overpriced
+ Dividend yield of 2.9% pays you to wait
Growth Analyst
bullish
60
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 34.2% YoY
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
neutral
58
/ 100 · High confidence
Mixed or range-bound price action
+ MACD histogram positive -- bullish momentum
Risk Analyst
bullish
70
/ 100 · Low confidence
Risk profile is manageable -- leverage, volatility, and event exposure all look contained
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
bullish
60
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
− No news coverage in the last 14 days -- limited independent confirmation either way
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2518.64)
Investment Thesis Evolution
Committee score moved marginally from 61.8 to 61.8.
Comparing 2026-09-19 to 2026-09-20 (1 day apart).
Technical Analysis
RSI (14)
51.4
Neutral
MACD Histogram
0.126
Bullish Momentum
Trend Direction
Sideways
Weekly: Uptrend
Market Structure
Hh Hl
Support
$59.16
Resistance
$63.97
Bollinger %B
0.46
Inside Bands
Price vs Moving Averages
EMA 9
$61.70
Above
EMA 21
$62.07
Below
EMA 50
$62.78
Below
EMA 200
$60.89
Above
Fundamental Analysis
Valuation
83
Growth
75
Profitability
65
Financial Health
39
Cash Flow
70
Valuation
P/E Ratio
22.5×
P/B Ratio
2.95×
PEG Ratio
0.66
Dividend Yield
3.06%
52W High
$69.88
52W Low
$50.24
Quality & Growth
ROE
926.3%
ROA
435.0%
Gross Margin
4774.5%
Operating Margin
4158.8%
Revenue Growth YoY
—
Debt / Equity
0.93
AI Fundamental Assessment
P/E ratio of 22.5 (inexpensive relative to a 15-40x range); Price-to-book of 2.9x; PEG ratio of 0.7 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 9.3%; Return on assets of 4.4%; Net margin of 48.0%; Gross margin of 47.7%; Current ratio of 0.69 (tight short-term liquidity); Debt-to-equity of 0.93; Free cash flow per share is positive (3.09); Most recent quarter beat estimates by 30.0%; 5 consecutive earnings beats; EPS growth decelerating (+83.1% -> -46.3% QoQ); Average YoY EPS growth of 38.1%; Analyst estimates rising over recent quarters
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