First Industrial Realty Trust (FR)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from FR's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from First Industrial Realty Trust's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $476M | $540M | $614M | $670M | $727M |
| Net income | $271M | $359M | $275M | $288M | $247M |
| Free cash flow | — | — | — | — | — |
| EPS (diluted) | $2.09 | $2.72 | $2.07 | $2.17 | $1.87 |
| Operating margin | 37.7% | 39.6% | 39.8% | 40.7% | 42.3% |
Superinvestors who own FR
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Cliff Asness AQR Capital Management |
Trimmed | $107M | 0.04% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Added | $34M | 0.08% | Q2 2026 |
| Marty Whitman Third Avenue Management LLC |
Trimmed | $5M | 0.76% | Q2 2026 |
Insider buying
Open-market purchases by First Industrial Realty Trust's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are First Industrial Realty Trust insiders buying the stock?
No open-market insider purchases of FR in the last 12 months, according to SEC Form 4 filings.
Which superinvestors own First Industrial Realty Trust?
3 of the superinvestors Investingly tracks hold FR in their latest 13F, including Cliff Asness, Joel Greenblatt, Marty Whitman.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.