First Industrial Realty Trust Inc (FR)

Real Estate Investment Trusts

Latest Price

$54.41

TTM P/E

19.79

Normalized P/E

22.73

TTM Div Yield

3.47%

Fwd Div Yield

3.47%

Book Value

20.94

P/B Ratio

2.60

Valuation metrics

EPS: $1.87

Book value / share: $20.17

Formula: √(22.5 × EPS × BVPS)

Graham Number

$29.13

47% downside

Norm. op. income: $281M (median of 7yr)

Tax rate: 5%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$20.76

62% downside

EPS: $1.87

Target P/E: 23×

Formula: EPS × P/E

P/E Fair Value

$43.01

22% downside

98.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	16.66M	$1.02B	12.57%	-46.7K	2026-06-30
Vanguard Portfolio Management LLC	12.72M	$779.0M	9.59%	+102.2K	2026-06-30
State Street Corp	6.33M	$391.0M	4.77%	-34.5K	2026-06-30
Vanguard Capital Management LLC	5.98M	$366.0M	4.51%	+53.6K	2026-06-30
Norges Bank	5.47M	$335.0M	4.13%	-118.3K	2026-06-30
Centersquare Investment Management LLC	4.86M	$297.0M	3.66%	+547.7K	2026-06-30
Geode Capital Management, LLC	2.85M	$174.0M	2.15%	+64.1K	2026-06-30
Cohen & Steers, Inc.	2.74M	$167.0M	2.07%	+10.9K	2026-06-30
Prudential Financial Inc	2.61M	$160.0M	1.97%	-174.9K	2026-06-30
Sixth Street Partners Management Company, L.P.	2.59M	$158.0M	1.95%	--	2026-06-30