First Industrial: Shares Attractive Despite Softer Q1 Results

Luis Alvarez/DigitalVision via Getty Images Shares of First Industrial Realty (NYSE:FR) have been a significant underperformer over the past year, losing 5% of their value, as higher rates have weighed on real estate valuations and industrial leasing activity has slowed. After the bell on Wednesday, FR reported mixed results and reduced guidance, which could pressure shares. Since rating shares a buy in January, FR has lost 5% while the S&P has gained 7%, a disappointing level of underperformance. Given ...