FR Stock Fair Value – FIRST INDUSTRIAL REALTY TRUST Reports Higher Than Expected Revenue Despite FFO Miss

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FIRST ($NYSE:FR): Despite missing analysts’ expectations on Funds From Operations (FFO), FR was able to exceed expectations on revenue. Specifically, the company reported FFO of $0.57, which was lower than the anticipated $0.58, and revenue of $149.42M, which surpassed the expected $143.74M. FR is a publicly traded real estate investment trust that owns and manages industrial real estate throughout the United States. Analysts were disappointed with the results due to the FFO miss, however, investors were still encouraged that despite missing expectations in one area, FR was still able to exceed expectations on revenue, which shows the company’s strength in their core business.

Price History

On Wednesday, FIRST INDUSTRIAL REALTY TRUST stock opened at $51.0 and closed at $51.8, up by 1.2% from last closing price of 51.2. Despite the miss, FIRST INDUSTRIAL REALTY TRUST reported higher than expected revenue for the quarter. The company stated that the strong performance was due to its strong portfolio of industrial properties and its continued focus on lease-up activities and controlling operating costs. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for FR. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for FR. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for FR. More…

Key Ratios Snapshot

Some of the financial key ratios for FR are shown below. More…

Analysis – FR Stock Fair Value

At GoodWhale, we have analyzed the fundamentals of FIRST INDUSTRIAL REALTY TRUST and have concluded that it is currently undervalued. Our proprietary Valuation Line suggests that the fair value of FIRST INDUSTRIAL REALTY TRUST stock is around $54.6. However, the stock is currently trading at $51.8, which is 5.2% lower than its fair value. This indicates that investors may be able to take advantage of a potential upside opportunity. More…

Peers

First Industrial‘s competitors include LXP Industrial Trust, Prologis Inc, and Stag Industrial Inc.

– LXP Industrial Trust ($NYSE:LXP)

LXP Industrial Trust is a real estate investment trust that owns, operates, and leases a portfolio of approximately 50 industrial properties in the United States. The company’s properties are located in major markets across the country, including Los Angeles, Chicago, Dallas, Houston, and Atlanta. LXP Industrial Trust is publicly traded on the New York Stock Exchange under the ticker symbol “LXP.”

– Prologis Inc ($NYSE:PLD)

Prologis Inc is a real estate investment trust (REIT) that owns, operates, and develops warehouses and distribution centers. As of December 31, 2020, the company owned or had investments in 3,813 properties in 19 countries.

The company’s market capitalization is $94.6 billion as of 2022. Prologis Inc is one of the largest REITs in the world and is the largest owner, operator, and developer of warehouses and distribution centers.

– Stag Industrial Inc ($NYSE:STAG)

Stag Industrial Inc is a publicly traded real estate investment trust focused on the acquisition, ownership, and operation of single-tenant industrial properties across the United States. The company’s portfolio includes over 170 properties in 33 states, totaling over 26 million square feet of leasable space.

Summary

The company reported Funds From Operations (FFO) of $0.57, missing analyst estimates by a penny. Analysts have generally been bullish on the stock, citing its strong balance sheet and healthy dividend yield. The company’s portfolio of industrial real estate is well-positioned to benefit from the ongoing ecommerce boom.

This trend, combined with continued demand for industrial space, is likely to drive net operating income growth in the near term. Investors should consider the stock for its attractive income and potential for capital appreciation.