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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry
vs
history
Equity to Asset 0.40
FR's Equity to Asset is ranked higher than
59% of the 634 Companies
in the Global REIT - Industrial industry.

( Industry Median: 0.49 vs. FR: 0.40 )
FR' s 10-Year Equity to Asset Range
Min: 0.27   Max: 0.52
Current: 0.4

0.27
0.52
Interest Coverage 1.16
FR's Interest Coverage is ranked higher than
55% of the 530 Companies
in the Global REIT - Industrial industry.

( Industry Median: 2.30 vs. FR: 1.16 )
FR' s 10-Year Interest Coverage Range
Min: 0.05   Max: 1.19
Current: 1.16

0.05
1.19
F-Score: 6
Z-Score: 0.57
M-Score: -2.22
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry
vs
history
Operating margin (%) 25.94
FR's Operating margin (%) is ranked higher than
62% of the 644 Companies
in the Global REIT - Industrial industry.

( Industry Median: 42.02 vs. FR: 25.94 )
FR' s 10-Year Operating margin (%) Range
Min: -16.79   Max: 26.08
Current: 25.94

-16.79
26.08
Net-margin (%) 11.72
FR's Net-margin (%) is ranked higher than
57% of the 645 Companies
in the Global REIT - Industrial industry.

( Industry Median: 33.47 vs. FR: 11.72 )
FR' s 10-Year Net-margin (%) Range
Min: -63.03   Max: 52.21
Current: 11.72

-63.03
52.21
ROE (%) 3.78
FR's ROE (%) is ranked higher than
61% of the 654 Companies
in the Global REIT - Industrial industry.

( Industry Median: 6.50 vs. FR: 3.78 )
FR' s 10-Year ROE (%) Range
Min: -23.95   Max: 16.78
Current: 3.78

-23.95
16.78
ROA (%) 1.51
FR's ROA (%) is ranked higher than
60% of the 655 Companies
in the Global REIT - Industrial industry.

( Industry Median: 2.89 vs. FR: 1.51 )
FR' s 10-Year ROA (%) Range
Min: -7.38   Max: 4.94
Current: 1.51

-7.38
4.94
ROC (Joel Greenblatt) (%) 3.62
FR's ROC (Joel Greenblatt) (%) is ranked higher than
65% of the 571 Companies
in the Global REIT - Industrial industry.

( Industry Median: 5.56 vs. FR: 3.62 )
FR' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -2.16   Max: 3.98
Current: 3.62

-2.16
3.98
Revenue Growth (%) -15.60
FR's Revenue Growth (%) is ranked higher than
53% of the 544 Companies
in the Global REIT - Industrial industry.

( Industry Median: -0.40 vs. FR: -15.60 )
FR' s 10-Year Revenue Growth (%) Range
Min: -31   Max: 42.3
Current: -15.6

-31
42.3
EBITDA Growth (%) 11.50
FR's EBITDA Growth (%) is ranked higher than
57% of the 496 Companies
in the Global REIT - Industrial industry.

( Industry Median: 3.00 vs. FR: 11.50 )
FR' s 10-Year EBITDA Growth (%) Range
Min: 0   Max: 54.2
Current: 11.5

0
54.2
EPS Growth (%) -68.50
FR's EPS Growth (%) is ranked lower than
53% of the 399 Companies
in the Global REIT - Industrial industry.

( Industry Median: -0.50 vs. FR: -68.50 )
FR' s 10-Year EPS Growth (%) Range
Min: -68.5   Max: 183.6
Current: -68.5

-68.5
183.6
» FR's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

FR Guru Trades in Q3 2013

Third Avenue Management 4,334,466 sh (unchged)
Steven Cohen Sold Out
Jim Simons 398,900 sh (-33.31%)
» More
Q4 2013

FR Guru Trades in Q4 2013

Third Avenue Management 4,330,258 sh (-0.1%)
Jim Simons 45,108 sh (-88.69%)
» More
Q1 2014

FR Guru Trades in Q1 2014

Jim Simons 415,187 sh (+820.43%)
Third Avenue Management 4,298,711 sh (-0.73%)
» More
Q2 2014

FR Guru Trades in Q2 2014

Chris Davis 214,515 sh (New)
Third Avenue Management 4,307,710 sh (+0.21%)
Jim Simons 230,300 sh (-44.53%)
» More
» Details

Insider Trades

Latest Guru Trades with FR

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)



No Insider Trades Found!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Preferred stocks of First Industrial Realty Trust Inc

SymbolPriceYieldDescription
FRPRK0.003.63ADR

Guru Investment Theses on First Industrial Realty Trust Inc

Third Avenue Management Comments on First Industrial Realty Trust - Oct 02, 2012

Equity Infusion to Turnaround Situation (First Industrial Realty Trust)

The Fund initiated its investment in First Industrial Common (FR) during 2010. At the time, the U.S.-based REIT owned a diversified portfolio of industrial properties across the country, but it was priced as a high-probability reorganization candidate. Acknowledging the substantial headwinds facing the company, we took a view that its primary obstacles (too much debt and sub-optimal occupancy) were temporary and surmountable. Our initial business plan involved taking a position in the common stock and then offering to make an equity infusion (direct investment) at a discounted price (significantly below net asset value) to quickly remediate the high debt levels that restricted management's ability to execute on an occupancy recovery that would boost cash flows and create a virtuous value enhancement cycle. Management was against issuing highly-dilutive equity, choosing instead to reduce leverage gradually through diligent organic growth and by selling non-core assets. Management believed that a combination of postponing new developments, discontinuing common dividend payments, and a gradual economic recovery, would help the company steadily rebuild its cash flow over time, allowing for gradual debt reduction and value recovery in the shares. After detailed discussions with management, we supported the plan and adjusted our investment thesis to a more pedestrian-type turnaround. We scaled back our targeted position sizing based on the risk-adjusted return prospects. After two years in this investment we have substantial unrealized gains from our very attractive entry price. Management's path turned out to be successful. Leverage has declined, overall borrowing costs were reduced and occupancy gains have been impressive. The company has completed two equity offerings at prices substantially higher than our entry price. We anticipate the final milestones - reinstatement of the common dividend and resumption of value-enhancing development activity - will occur in the near future, which should be the catalyst for First Industrial Common to trade in-line with net asset value and its REIT peers.

From Third Avenue's third-quarter letter, Michael H. Winer Co-Portfolio Manager of Third Avenue Real Estate Value Fund and Jason Wolf, Co-Portfolio Manager of Third Avenue Real Estate Value Fund.


Check out Third Avenue Management latest stock trades

Ratios

vs
industry
vs
history
P/E(ttm) 58.10
FR's P/E(ttm) is ranked higher than
60% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 26.30 vs. FR: 58.10 )
FR' s 10-Year P/E(ttm) Range
Min: 2.1   Max: 81.53
Current: 58.1

2.1
81.53
P/B 1.80
FR's P/B is ranked higher than
59% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.28 vs. FR: 1.80 )
FR' s 10-Year P/B Range
Min: 0.11   Max: 2.2
Current: 1.8

0.11
2.2
P/S 5.50
FR's P/S is ranked higher than
80% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 7.78 vs. FR: 5.50 )
FR' s 10-Year P/S Range
Min: 0.18   Max: 7.91
Current: 5.5

0.18
7.91
EV-to-EBIT 38.60
FR's EV-to-EBIT is ranked higher than
66% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 32.35 vs. FR: 38.60 )
FR' s 10-Year EV-to-EBIT Range
Min: 30.9   Max: 1920.4
Current: 38.6

30.9
1920.4
Current Ratio 0.13
FR's Current Ratio is ranked lower than
55% of the 407 Companies
in the Global REIT - Industrial industry.

( Industry Median: 0.85 vs. FR: 0.13 )
FR' s 10-Year Current Ratio Range
Min: 0.06   Max: 2.28
Current: 0.13

0.06
2.28
Quick Ratio 0.13
FR's Quick Ratio is ranked lower than
55% of the 407 Companies
in the Global REIT - Industrial industry.

( Industry Median: 0.79 vs. FR: 0.13 )
FR' s 10-Year Quick Ratio Range
Min: 0.06   Max: 2.28
Current: 0.13

0.06
2.28

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.20
FR's Dividend Yield is ranked lower than
88% of the 635 Companies
in the Global REIT - Industrial industry.

( Industry Median: 4.28 vs. FR: 2.20 )
FR' s 10-Year Dividend Yield Range
Min: 0.46   Max: 109.05
Current: 2.2

0.46
109.05
Dividend Payout 8.63
FR's Dividend Payout is ranked lower than
52% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.31 vs. FR: 8.63 )
FR' s 10-Year Dividend Payout Range
Min: 0.46   Max: 23.08
Current: 8.63

0.46
23.08
Yield on cost (5-Year) 2.20
FR's Yield on cost (5-Year) is ranked lower than
86% of the 636 Companies
in the Global REIT - Industrial industry.

( Industry Median: 4.57 vs. FR: 2.20 )
FR' s 10-Year Yield on cost (5-Year) Range
Min: 0.46   Max: 109.05
Current: 2.2

0.46
109.05
Share Buyback Rate -19.30
FR's Share Buyback Rate is ranked higher than
57% of the 518 Companies
in the Global REIT - Industrial industry.

( Industry Median: -7.00 vs. FR: -19.30 )
FR' s 10-Year Share Buyback Rate Range
Min: -0.1   Max: -26.1
Current: -19.3

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 1.90
FR's Price/Tangible Book is ranked higher than
61% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.32 vs. FR: 1.90 )
FR' s 10-Year Price/Tangible Book Range
Min: 0.13   Max: 2.1
Current: 1.9

0.13
2.1
Price/DCF (Projected) 2.26
FR's Price/DCF (Projected) is ranked higher than
78% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 11.15 vs. FR: 2.26 )
FR' s 10-Year Price/DCF (Projected) Range
Min: 2.46   Max: 40.79
Current: 2.26

2.46
40.79
Price/Median PS Value 1.22
FR's Price/Median PS Value is ranked higher than
59% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.21 vs. FR: 1.22 )
FR' s 10-Year Price/Median PS Value Range
Min: 0.04   Max: 1.55
Current: 1.22

0.04
1.55
Price/Graham Number 3.42
FR's Price/Graham Number is ranked higher than
58% of the 694 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.35 vs. FR: 3.42 )
FR' s 10-Year Price/Graham Number Range
Min: 0.4   Max: 3.72
Current: 3.42

0.4
3.72
Earnings Yield (Greenblatt) 2.60
FR's Earnings Yield (Greenblatt) is ranked higher than
61% of the 628 Companies
in the Global REIT - Industrial industry.

( Industry Median: 3.70 vs. FR: 2.60 )
FR' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 3.2
Current: 2.6

0.1
3.2
Forward Rate of Return (Yacktman) -14.34
FR's Forward Rate of Return (Yacktman) is ranked higher than
51% of the 527 Companies
in the Global REIT - Industrial industry.

( Industry Median: 1.93 vs. FR: -14.34 )
FR' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -389.9   Max: 14.4
Current: -14.34

-389.9
14.4

Business Description

Industry: REITs » REIT - Industrial
Compare:EGP, PSA, EXR, CUBE, PCH » details
Traded in other countries:F5W.Germany
First Industrial Realty Trust, Inc. is a Maryland corporation, which was organized on August 10, 1993. It is a self-administered and fully integrated real estate company which owns, manages, acquires, sells, develops, and redevelops industrial real estate. The Company's interests in its properties and land parcels are held through partnerships, corporations, and limited liability companies controlled, directly or indirectly, by the Company, including the Operating Partnership, of which it is the sole general partner. As of December 31, 2012, its in-service portfolio consisted of 346 light industrial properties, 108 R&D/flex properties, 150 bulk warehouse properties, 102 regional warehouse properties and eight manufacturing properties containing approximately 63.4 million square feet of gross leasable area ('GLA') located in 26 states in the United States and one province in Canada. Its in-service portfolio includes all properties other than developed, redeveloped and acquired properties that have not yet reached stabilized occupancy. The Company faces competition for attractive investment opportunities from other well-capitalized real estate investors, including both publicly-traded REITs and private investors. This competition increases as investments in real estate become attractive relative to other forms of investment. The Company is subject to various federal, state and local laws, ordinances and regulations relating to the presence of hazardous or toxic materials on, in or emanating from a property, and any related damages to natural resources.
» More Articles for FR

Headlines

Articles On GuruFocus.com
Third Avenue Management Comments on First Industrial Realty Trust Oct 02 2012 
Value Shop Third Avenue Management Reports Q1 Portfolio May 20 2011 
First Industrial Trust Realty Apr 13 2011 
First Industrial Trust Realty Apr 13 2011 
First Industrial Realty Trust Inc. Reports Operating Results (10-K) Feb 24 2011 
Third Avenue Management Buys WY, LEN, KGC, FR, GGP, Sells GWR, EGP, FPO Nov 18 2010 
First Industrial Realty Trust Inc. Reports Operating Results (10-Q) Nov 04 2010 
First Industrial Realty Trust Declares Preferred Stock Dividends Sep 03 2009 
First Industrial Realty Trust Reports Second Quarter 2009 Results Aug 04 2009 
First Industrial Realty Trust Inc. Reports Operating Results (10-Q) May 11 2009 

More From Other Websites
First Industrial Realty Trust Announces 447,000 Square Feet of Development Leasing in Dallas and... Sep 10 2014
First Industrial Realty Trust Leases 245,143 SF to FAM, LLC at Its First Bandini Logistics Center in... Sep 08 2014
Insider Trading Alert - FR, RSG And SKX Traded By Insiders Aug 26 2014
FIRST INDUSTRIAL REALTY TRUST INC Financials Aug 06 2014
First Industrial Realty Trust Declares Common Stock Dividends Aug 05 2014
FIRST INDUSTRIAL REALTY TRUST INC Files SEC form 10-Q, Quarterly Report Jul 30 2014
FIRST INDUSTRIAL REALTY TRUST INC Files SEC form 8-K, Completion of Acquisition or Disposition of... Jul 28 2014
First Industrial Realty Trust Inc Earnings Call scheduled for 11:30 am ET today Jul 24 2014
FIRST INDUSTRIAL REALTY TRUST INC Files SEC form 8-K, Results of Operations and Financial Condition,... Jul 24 2014
First Industrial Realty Trust Reports Second Quarter 2014 Results Jul 23 2014
Q2 2014 First Industrial Realty Trust Earnings Release - After Market Close Jul 23 2014
First Industrial Realty Trust to Host Second Quarter 2014 Results Conference Call Jul 10 2014
First Industrial Announces Leases at Its 509,216 Square-Foot Distribution Center in the Chicago... Jun 23 2014
First Industrial Realty Trust to Present at REITWeek 2014: NAREIT's Investor Forum May 30 2014
First Industrial Realty Leases in LA & York, PA May 29 2014
First Industrial Announces Leases at Its First Logistics Center @ I-83 in Central Pennsylvania and... May 27 2014
FIRST INDUSTRIAL REALTY TRUST INC Files SEC form 8-K, Change in Directors or Principal Officers,... May 09 2014
First Industrial Realty Trust Declares Common Stock Dividends May 07 2014
FIRST INDUSTRIAL REALTY TRUST INC Files SEC form 10-Q, Quarterly Report May 06 2014
First Industrial Realty Trust to Present at the Baird 2014 Growth Conference May 02 2014

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