IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
© 2026 Blank Capital Research. All rights reserved. System Version: Aegis V8 (God Mode).
Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1523
Positioning
Market Dominance
Finance, Insurance, And Real Estate
Trading
$6.8B
Peter E. Baccile
First Industrial Realty Trust is a leading owner, operator, and developer of industrial real estate. In total, we own and have under development approximately 64.1 million square feet of industrial space.
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Dates updated upon official exchange announcement.
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = FR ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$SII SPROTT INC. | 75 | 91 | 87 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PUK PRUDENTIAL PLC | 73 | 88 | 97 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$NMR NOMURA HOLDINGS INC | 72 | 81 | 92 | 87 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PSLV Sprott Physical Silver Trust | 69 | 82 | 80 | 98 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$UFCS UNITED FIRE GROUP INC | 68 | 81 | 93 | 76 | 5.0x | 3.5x | 13.2% | 4.1% | 99.9% | 14.7% | 11.1% | 9.2% | 2.1% | 16.0x | $775M | VS | |
$SLF SUN LIFE FINANCIAL INC | 68 | 83 | 95 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CBOE Cboe Global Markets, Inc. | 68 | 75 | 63 | 77 | 21.3x | 15.7x | 24.0% | 13.7% | 41.7% | 32.4% | 26.4% | 8.2% | 1.1% | 30.0x | $25.7B | VS | |
$VTMX Vesta Real Estate Corporation, S.A.B. de C.V. | 67 | 69 | 77 | 80 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$PHYS Sprott Physical Gold Trust | 67 | 64 | 82 | 91 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$GLDM World Gold Trust | 66 | 54 | 85 | 92 | 11.3x | 11.3x | - | 20.9% | 100.0% | 97.1% | 554.8% | -19.0% | 0.0% | - | $32.0B | VS | |
$FR FIRST INDUSTRIAL REALTY TRUST INC | 53 | 46 | 44 | 64 | 29.5x | 17.2x | 10.1% | 4.9% | 100.0% | 42.2% | 39.9% | 10.5% | 3.3% | 106.0x | $6.8B | ||
| SECTOR BENCH | - | - | - | - | - | 11.9x | 7.8x | 9.0% | 1.3% | 77.7% | 18.1% | 21.9% | 10.7% | 2.0% | 0.5x | - | REF |
FIRST INDUSTRIAL REALTY TRUST INC (FR) receives a "Hold" rating with a composite score of 53.0/100. It ranks #1523 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
Sign in to join the discussion.
Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
Low volatility — smoother ride and historically better risk-adjusted returns
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
Get full access to institutional-quality research tools with Blank Capital Pro.
Upgrade to ProStarting at $19.99/mo
Relative valuation derived from Finance, Insurance, And Real Estate sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
Projection based on user-defined inputs. Re-calculated daily against current market data.
Reverse DCF Framework — Mauboussin Methodology
Institutional-grade Reverse DCF analysis. This model identifies the growth hurdles embedded in current market prices. When implied growth is significantly lower than historical or projected rates, a margin of safety may exist. Re-audited daily.
No analyst ratings for FR.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 46 | 75 | -29DRAG |
| MOMENTUM | 64 | 71 | -7DRAG |
| VALUATION | 44 | 52 | -8DRAG |
| INVESTMENT | 31 | 42 | -11DRAG |
| STABILITY | 67 | 75 | -8DRAG |
| SHORT INT | 51 | 58 | -7DRAG |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 6.1% vs WACC 6.3% (spread -0.2%)
GM 100% vs sector 78%, OM 42% vs sector 18%
Capital turnover 0.15x
Rev growth 11%, 10yr history
Interest coverage 14.2x, Net debt/EBITDA 9.6x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate FIRST INDUSTRIAL REALTY TRUST INC (FR) as a Hold with a composite score of 53.0/100 at a current price of $62.22. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
FIRST INDUSTRIAL REALTY TRUST INC holds a top-quartile position (#0 of 50) within the Finance, Insurance, And Real Estate sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 53.0/100 places it at rank #1523 in our full universe.
The near-term outlook is constructive, with revenue growing at 11% and momentum in the 64th percentile confirming positive market sentiment. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy.
Narrow
Medium
Standard
Fair Value
Gross margins of 100% signal strong pricing power.
Stable competitive position in a defensive sector.
Leverage of 106% D/E amplifies downside risk.
Vulnerability to macroeconomic shocks and interest rate volatility.
FIRST INDUSTRIAL REALTY TRUST INC represents a hold based on multi-factor quantitative performance.
Our model assigns FIRST INDUSTRIAL REALTY TRUST INC a Hold rating, with a composite score of 53.0/100 and 3 out of 5 stars. Ranked #1523 of 7,333 stocks, FR presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
With a quality score of 46/100, FR shows adequate but unremarkable business quality. The company reports a return on equity of 10.1% (sector avg: 9.0%), gross margins of 100.0% (sector avg: 77.7%), net margins of 39.9% (sector avg: 21.9%). This suggests the company generates acceptable returns but may lack the competitive positioning or operational efficiency to stand out from peers.
With a value score of 44/100, FR appears somewhat expensive relative to its fundamentals. Key valuation metrics include a P/E ratio of 29.46x, an EV/EBITDA of 17.19x, a P/B ratio of 2.98x. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
FIRST INDUSTRIAL REALTY TRUST INC's investment score of 31/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of 10.5% vs. a sector average of 10.7% and a return on assets of 4.9% (sector: 1.3%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
FR demonstrates moderate momentum with a score of 64/100, suggesting a neutral price trend without strong directional conviction. Revenue growth stands at 10.5% year-over-year, while a beta of 0.77 reflects its sensitivity to broader market moves. Moderate momentum may indicate the stock is consolidating or transitioning between trends, warranting close monitoring of upcoming catalysts.
FR shows good financial stability with a score of 67/100. Key stability metrics include a beta of 0.77 and a debt-to-equity ratio of 106.00x (sector avg: 0.5x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
The short interest score of 51/100 for FR suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 106.00x). With a $6.8B market cap (mid-cap), FIRST INDUSTRIAL REALTY TRUST INC may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
FR pays a solid dividend yield of 3.3%, contributing an income component to total returns. This compares to a sector average dividend yield of 2.0%. This moderate yield suggests a balance between returning capital to shareholders and retaining earnings for reinvestment — a common profile among quality compounders.
FIRST INDUSTRIAL REALTY TRUST INC is a mid-cap company in the Finance, Insurance, And Real Estate sector, ranked #0 of 50 in its sector (100th percentile) and #1523 of 7,333 overall (79th percentile). Key comparisons include ROE of 10.1% exceeding the 9.0% sector median and operating margins of 42.2% above the 18.1% sector average. This top-quartile standing reflects exceptional competitive strength relative to Finance, Insurance, And Real Estate peers.
While FR currently exhibits a HOLD profile, superior opportunities exist within the FINANCE, INSURANCE, AND REAL ESTATE sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Finance, Insurance, And Real Estate Alpha →Quant Factor Profile
Upgrade catalyst
Investment (31) is the limiting factor — improvement here would lift the composite score most.
EV/EBITDA 121% ABOVE SECTOR MEDIAN
ROE 12% ABOVE SECTOR MEDIAN (FAVORABLE)
Gross Margin 29% ABOVE SECTOR MEDIAN (FAVORABLE)
The $6.8B question: What happens when a company this good becomes this expensive? On Wall Street, there are companies that move money, and then there are companies that are the money. FIRST INDUSTRIAL REALTY TRUST INC falls squarely into the latter category — a financial infrastructure so embedded in the global economy that to bet against it feels almost like betting against commerce itself. At $6.8B in market capitalization, FIRST INDUSTRIAL REALTY TRUST INC (FR) currently ranks #187 in
First Industrial Realty Trust (FR) is back in focus after reporting robust fourth quarter 2025 results, issuing 2026 earnings guidance, and lifting its quarterly dividend by 12.4% to $0.50 per share. See our latest analysis for First Industrial Realty Trust. At a share price of $58.92, First Industrial Realty Trust has seen a 5.72% 90 day share price return and a 9.60% one year total shareholder return. This suggests that momentum has been gradually building around its earnings beat, 2026...
Land & Buildings Investment Management sold its entire $20 million stake in Rexford Industrial Realty, signaling potential challenges in the REIT market amid high interest rates and slower transaction activity.
First Industrial Realty Trust (FR) is a REIT with a 2.69% dividend yield, which is higher than the industry average. The company has increased its dividend by 9.57% annually over the past five years, and its earnings are expected to grow 6.56% this fiscal year, making it an attractive dividend stock.
The article highlights three stocks with strong earnings growth potential for August: Globe Life, WisdomTree, and First Industrial Realty Trust. The companies are expected to see earnings growth of 11.3%, 56.8%, and 6.6%, respectively, in the current year.
Above 50MA
37.18%
Net New Highs
+51081