Raymond James Upgrades First Industrial Realty Trust, Inc. to 'Buy'

Raymond James has upgraded First Industrial Realty Trust, Inc. (NYSE: FR) to a 'buy' rating. Analyst David Rodgers set a new price target of $83 on June 18, 2026. This move highlights increased confidence in the company's potential.

Analysts Set New Price Targets

On June 18, 2026, Raymond James reinstated its coverage on First Industrial Realty Trust, Inc. with a 'buy' rating and a price target of $83. Wells Fargo maintained its 'hold' rating with a target of $61 on June 1, 2026. Meanwhile, Truist Securities and Baird have maintained their 'buy' ratings, with price targets of $67 and $68, respectively, in May and April 2026.

First Industrial Realty Trust, Inc. Stock Up 2.7%

Shares of First Industrial Realty Trust, Inc. (NYSE: FR) traded around $60.70. The company has a market capitalization of approximately $8.05 billion and a P/E ratio of 23.44. Its 52-week range is between $47.36 and $64.66, with a 50-day moving average of $62.01 and a 200-day moving average of $58.11. The company's beta is 1.067, indicating moderate volatility compared to the market.

Recent Earnings

For the quarter ending March 31, 2026, First Industrial Realty Trust, Inc. reported revenue of $745.2 million, reflecting a growth rate of 10%. The company achieved a net margin of 45.95% and a return on equity of 12.84%. Earnings per share (EPS) were $2.59. The next earnings report is scheduled for July 22, 2026.

Dividend

First Industrial Realty Trust, Inc. offers an annual dividend rate of $1.89, yielding 3.01%. The dividend payout ratio stands at 70.85%, indicating a solid return to shareholders.

Insider Buying and Selling at First Industrial Realty Trust, Inc.

Recent insider activity includes purchases by several insiders. Notably, Frank Schmitz bought 2,293 shares on June 1, 2026. In April 2026, insiders Marcus Smith, Patrick Hackett Jr., Teresa Bryce Bazemore, Denise Olsen, and Matthew Dominski each acquired 2,419 shares.

Other Institutional Activity in First Industrial Realty Trust, Inc.

BlackRock, Inc. slightly reduced its holdings by 23,712 shares, ending with 16,707,768 shares valued at approximately $966.5 million. Vanguard Portfolio Management LLC significantly increased its stake, adding 12,617,830 shares to hold the same number, worth roughly $729.9 million. State Street Corp reduced its position by 80,473 shares, leaving it with 6,363,262 shares valued at about $371.3 million.

About First Industrial Realty Trust, Inc.

First Industrial Realty Trust, Inc. is a major player in the U.S. real estate sector, specializing in industrial properties. Headquartered in Chicago, the company operates and develops logistics facilities across 15 metropolitan areas. Led by CEO Peter E. Baccile, it employs 151 people and manages about 71.6 million square feet of space.

Bottom Line

Raymond James' upgrade to a 'buy' rating for First Industrial Realty Trust, Inc. reflects positive sentiment towards the company's future performance. Investors track these ratings closely, though it's important to remember that analyst opinions are one of many factors to consider. The 13F filings and insider transactions provide additional insights into the company's market dynamics.