Wolfe Research last night upgraded First Industrial Realty to Outperform from Peer Perform with a year-end 2025 $64 price target. The company’s footprint is facing some of the highest supply in the sector, but a recent decline in starts should help it “considerably,” the analyst tells investors in a research note. The firm estimates First Industrial will produce two year earnings growth of 9% from 2024 to 2026. Wolfe says First Industrial lacks some of the acquisition accounting headwinds of other industrial real estate investment trusts, while on a net basis its development pipeline has more upside than downside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FR:
- First Industrial Realty price target raised to $55 from $50 at Scotiabank
- First Industrial Realty price target raised to $60 from $54 at Truist
- First Industrial Realty Trust Declares Common Stock Dividends
- First Industrial Realty price target raised to $60 from $57 at RBC Capital
- Stag Industrial upgraded to Outperform at Wedbush following peer REIT reports