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

As of 14 July 2025, the valuation grade for First Industrial Realty Trust, Inc. has moved from expensive to fair. Based on the current metrics, the company appears to be fairly valued. The P/E ratio stands at 25, which is slightly below the peer average of approximately 26.28, while the EV to EBITDA ratio of 14.81 is competitive compared to peers like Annaly Capital Management, Inc. at 15.10 and Omega Healthcare Investors, Inc. at 11.83.
In terms of performance, First Industrial Realty Trust has shown a YTD return of 4.41%, significantly lagging behind the S&P 500's return of 12.22% during the same period. This underperformance, coupled with a dividend yield of 304.10% and ROE of 10.07%, suggests that while the stock is fairly valued, it may not be the most attractive investment compared to its peers.