Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 2, 2026, First Industrial Realty Trust, Inc. (FR) has a Wall Street consensus price target of $63.89, based on estimates from 29 covering analysts. With the stock currently trading at $63.14, this represents a potential upside of +1.2%. The company has a market capitalization of $8.36B.
Analyst price targets range from a low of $59.00 to a high of $67.00, representing a 13% spread in expectations. The median target of $64.00 aligns closely with the consensus average. The tight target dispersion indicates high conviction among analysts.
The current analyst consensus rating is Buy, with 18 analysts rating the stock as a Buy or Strong Buy,9 rating it Hold, and 2 rating it Sell or Strong Sell. The positive sentiment balance indicates moderate optimism about the stock prospects.
From a valuation perspective, FR trades at a trailing P/E of 29.1x and forward P/E of 36.5x. The forward PEG ratio of 12.55 reflects a premium valuation. Analysts expect EPS to grow -3.3% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $70.79, with bear and bull scenarios of $64.12 and $131.11 respectively. Model confidence stands at 52/100, reflecting moderate uncertainty in projections.
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Start ComparisonThe consensus price target for FR is $63.89, close to the current price of $63.14 (1.2% implied move). Based on 29 analyst estimates, the stock appears fairly valued near current levels.
FR has a consensus rating of "Buy" based on 29 Wall Street analysts. The rating breakdown is predominantly bullish, with 18 Buy/Strong Buy ratings. The consensus 12-month price target of $63.89 implies 1.2% upside from current levels.
At a forward P/E of 36.533x, FR trades at a premium valuation. The consensus price target of $63.89 (1.2% upside) suggests analysts may view current valuations as stretched.
The most bullish Wall Street analyst has a price target of $67 for FR, while the most conservative target is $59. The consensus of $63.89 represents the median expectation. Our quantitative valuation model projects a bull case target of $131 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
FR is heavily covered by Wall Street, with 29 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 18 have Buy ratings, 9 recommend Hold, and 2 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month FR stock forecast based on 29 Wall Street analysts shows a consensus price target of $63.89, with estimates ranging from $59 (bear case) to $67 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $71, with bear/bull scenarios of $64/$131.
Our quantitative valuation model calculates FR's fair value at $71 (base case), with a bear case of $64 and bull case of $131. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 52/100.
FR trades at a forward P/E ratio of 36.5x based on next-twelve-months earnings estimates compared to a trailing P/E of 29.1x. The higher forward P/E suggests near-term earnings pressure. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
FR appears fairly valued according to analysts, with a "Buy" rating and minimal upside to the $63.89 target. Consider your investment thesis and risk tolerance. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
FR analyst price targets range from $59 to $67, a 13% tight range reflecting strong analyst consensus. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $63.89 consensus represents the middle ground. Our model's $64-$131 range provides an independent fundamental perspective.