Raymond James Cuts FR Price Target to $71
Key Points
- Raymond James lowered its price target on First Industrial Realty Trust, Inc. to $71.00 from $86.00 while keeping an Outperform rating on October 23, 2026.
- Raymond James's $71 price target implies 28.41% upside from First Industrial Realty Trust, Inc.'s ($FR) current $55.29 share price.
- The industrial real estate investment trust reported trailing twelve-month revenue of $775.9 million and earnings of $2.70 per share.
- Shares of First Industrial Realty Trust, Inc. recently traded near $55.29, sitting below their 50-day and 200-day moving averages.
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On October 23, 2026, Raymond James lowered its price target on First Industrial Realty Trust, Inc. (NYSE: FR) to $71.00 from $86.00 while keeping an Outperform rating on the stock. Research notes from the firm provide this forward-looking evaluation of the logistics property owner.
FR
First Industrial Realty Trust, Inc.
Raymond James vs. the S&P 500
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Raymond James's Call on First Industrial Realty Trust, Inc.
On October 23, 2026, Raymond James maintained its Outperform rating on First Industrial Realty Trust, Inc. while lowering its price target to $71.00 from $86.00. Other firms covering the stock include Baird with a $74.00 target, RBC Capital with a $75.00 target, Scotiabank with a $66.00 target, and Wells Fargo with a $66.00 target. Overall, the stock carries a consensus recommendation of buy from 16 analysts, with a mean price target of $70.31.
Other Institutional Activity in First Industrial Realty Trust, Inc.
Fort Washington Investment Advisors opened a new position with 530,866 shares worth about $31.6 million. CenterSquare Investment Management LLC grew its holdings by 547,900 shares, ending with 4,855,292 shares worth about $268.4 million. Cohen & Steers Inc. grew its holdings by 10,917 shares, ending with 2,740,112 shares worth about $151.5 million. Prudential Financial, Inc. reduced its stake by 174,798 shares, ending with 2,613,042 shares worth about $144.5 million.
First Industrial Realty Trust, Inc. Stock Down 6.9%
First Industrial Realty Trust, Inc. recently traded around $55.29 as of October 23, 2026. The stock closed at $55.29 on October 22, 2026. Shares trade about 9.3% below their 50-day moving average and roughly 10.1% below their 200-day moving average.
$FR price target
First Industrial Realty Trust, Inc. daily closes and this analyst's $71 target. Not advice.
Recent Earnings
First Industrial Realty Trust, Inc. posted trailing twelve-month revenue of $775,878,016.00 and basic earnings of $2.70 per share. The company reported a net profit margin of 46.1% and a year-over-year revenue growth rate of 8.5%. The real estate firm operates with a price-to-earnings ratio of 20.48, and its next earnings report is scheduled for February 10, 2027.
Dividend
First Industrial Realty Trust, Inc. pays an annual dividend rate of $2.00 per share, yielding 3.62% with a payout ratio of 68.7%.
Insider Buying and Selling at First Industrial Realty Trust, Inc.
Chief Investment Officer Johannson L Yap sold 680 shares for a total value of $39,688.00 on December 17, 2025.
About First Industrial Realty Trust, Inc.
First Industrial Realty Trust, Inc. is a U.S. owner, operator, and developer of logistics properties. The company provides warehouse and distribution facilities to support supply chains for regional and multinational firms.
Bottom Line
Investors can watch for the company's upcoming earnings release on February 10, 2027, along with any further analyst updates regarding the industrial real estate sector.
Related Filing Alerts
Source: Raymond James's rating change on $FR (Oct 23, 2026). Written by software, not financial advice. How we make alerts