First Industrial Realty Trust (FR) is rated 'Buy' as it shows strong fundamentals despite an 11% decline in share price since July. The company reported 39% growth in cash rental rates on new leases and 6.7% growth in same-store net operating income (NOI), with occupancy rising to 94.9%. Management has increased its 2026 forecasts for funds from operations (FFO) and NOI, supported by ongoing tenant interest in development projects across key U.S. markets. At a valuation of 18.8 times FFO and a forward yield of 3.4%, FR presents a reasonable entry point with about 12% upside potential to its fair value.
First Industrial's recent 39% rent growth contrasts with the Real Estate sector's mostly rising stock prices on Pluang. As of Oct 06, 2026 22:21 WIB, 24 of 26 Real Estate stocks gained while only 1 declined. Notably, Extra Space Storage (EXR) rose 1.45% to USD 134.84 with a typical hold time of 108 days, whereas KE Holdings (BEKE) fell despite 100% sell order activity, priced at USD 16.73 with a 22-day hold time.
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