First Industrial Realty Trust, Inc. (NYSE:FR) Receives $53.09 Average PT from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $53.55.

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Friday. Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Scotiabank reduced their price target on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Finally, Robert W. Baird reduced their target price on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st.

First Industrial Realty Trust Trading Up 2.0 %

NYSE FR opened at $53.71 on Monday. The stock has a market cap of $7.11 billion, a P/E ratio of 24.75 and a beta of 1.07. The company’s fifty day simple moving average is $48.45 and its 200-day simple moving average is $50.26. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.15.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The business had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. Equities research analysts predict that First Industrial Realty Trust will post 2.61 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, June 28th. First Industrial Realty Trust’s payout ratio is presently 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of large investors have recently added to or reduced their stakes in FR. B. Riley Wealth Advisors Inc. acquired a new stake in First Industrial Realty Trust in the third quarter valued at about $220,000. SG Americas Securities LLC increased its holdings in First Industrial Realty Trust by 10.0% in the fourth quarter. SG Americas Securities LLC now owns 22,559 shares of the real estate investment trust’s stock worth $1,188,000 after purchasing an additional 2,053 shares in the last quarter. Raymond James & Associates increased its holdings in shares of First Industrial Realty Trust by 13.9% during the fourth quarter. Raymond James & Associates now owns 20,610 shares of the real estate investment trust’s stock valued at $1,086,000 after acquiring an additional 2,512 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of First Industrial Realty Trust by 5.3% during the fourth quarter. Pacer Advisors Inc. now owns 195,795 shares of the real estate investment trust’s stock valued at $10,313,000 after acquiring an additional 9,821 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $1,075,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.