02:05 PM EDT, 04/24/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our target price by $4 to $67, applying a forward P/FFO of 21.1x our 2026 FFO estimate, in line with industrial REIT peers. We decreased our 2026 FFO estimate by $0.04 to $3.17 and maintained 2027's at $3.42. FR continues to benefit from strong renewal leasing, with cash rents up 41% in Q1, the strongest number in the industrial space to start the year. This was influenced by a renewal of FR's largest expiring rental space a 556K sqft facility in Southern California. Management believes its sale of 100 acres in Phoenix for $131M closing in June is well above typical industrial land values for this market, likely due to data center needs in the area. We note G&A expenses are elevated this year due to an ongoing proxy battle with activist investor Land & Buildings that believes long-tenured board members need to be replaced due to underperformance relative to peers. We note the valuation discount to peers is not large enough to warrant concern, especially given FR's smaller size.