Is First Industrial Realty Trust, Inc. overvalued or undervalued?

As of 16 April 2025, the valuation grade for First Industrial Realty Trust, Inc. has moved from fair to expensive, indicating that the company is overvalued. The current P/E ratio stands at 25, while its EV to EBITDA ratio is 14.81, and the Price to Book Value is 2.55. These ratios suggest that the company's valuation metrics are higher than many of its peers.
In comparison to its peers, Healthpeak Properties, Inc. has a significantly higher P/E ratio of 37.62, while Annaly Capital Management, Inc. shows a more attractive P/E of 17.36. This highlights that First Industrial Realty Trust, Inc. is priced at a premium relative to its industry counterparts. Additionally, while the company has shown a 1-year return of 6.01%, it still lags behind the S&P 500's return of 10.26% over the same period, reinforcing the notion that the stock may be overvalued at its current price of 50.11.