First Industrial Realty Trust (FR) Q3 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure · Editorial policy
Key numbers
- Adjusted EPS
- $0.44
- Estimate
- $0.43
- Surprise
- +1.8%
- Revenue (period 2026-09-30)
- $197.1M
- Score at report (before → after)
- 6.0 → 6.1/10
Revenue source: yfinance_provisional (provisional — SEC XBRL not yet filed for this period).
How the report landed
First Industrial Realty Trust (FR) beat the $0.43 estimate with adjusted EPS of $0.44 — a modest 1.8% upside surprise. TrendMatrix's engine moved from Buy (Wait) (6.0/10) to Sell at 6.1/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates FR Sell at 5.2/10.
4 of the last 4 quarters beat the estimate; this quarter's +1.8% surprise compares with a +75.3% four-quarter average. Next scheduled report: 2027-02-10.
What supports the rating
- Strong earnings beat streak (4/4)
What argues against it
- Concentration risk — Property Type: industrial
- Sector modifier (Real Estate): -1.2
- Weak growth
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $54.34
- Price target
- $60.58
- Stop
- $52.54
- Upside to target
- +11.5%
- Reward-to-risk
- 2.2:1
Forward estimates sit below the trailing run-rate (30.2× forward vs 20.1× trailing) — consensus expects earnings to decline from here.
Risk check: RSI 26 — a level conventionally read as oversold.
Model outputs from TrendMatrix’s engine as of 2026-10-29 — shown for context, not personalized investment advice.
FR at TrendMatrix's latest read
REIT quarters hinge on occupancy, rate exposure, and FFO rather than headline EPS, which mechanically distorts under depreciation.
- Industry
- REIT - Industrial
- Market cap
- $7.45B
- P/E (fwd)
- 30.2
- P/E (ttm)
- 20.1
- 52-week range
- $54.16–$69.88
- Off 52-week high
- 22.2%
- RSI (14)
- 26
- Volume vs avg
- 1.41×
- Score today
- 5.2/10