First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Hold” by Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has received a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $55.50.

Several research firms have recently issued reports on FR. BNP Paribas started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 target price on the stock. JPMorgan Chase & Co. increased their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their price objective on First Industrial Realty Trust from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. Robert W. Baird decreased their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Truist Financial boosted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 5th.

First Industrial Realty Trust Stock Up 0.9 %

Shares of FR stock opened at $55.03 on Friday. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.92. The stock has a market cap of $7.28 billion, a P/E ratio of 25.36 and a beta of 1.07. The stock has a 50 day moving average of $51.12 and a 200 day moving average of $50.45. 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 (NYSE:FR) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same period last year, the firm earned $0.61 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that First Industrial Realty Trust will post 2.61 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

Several large investors have recently added to or reduced their stakes in FR. Farmers & Merchants Investments Inc. boosted its position in shares of First Industrial Realty Trust by 781.7% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 200 shares during the period. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust during the 1st quarter worth approximately $50,000. EdgeRock Capital LLC purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at approximately $56,000. Finally, C M Bidwell & Associates Ltd. lifted its holdings in First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 765 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.