Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) PT at $56.46

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $56.46.

A number of equities research analysts have commented on FR shares. BNP Paribas started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price for the company. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Mizuho boosted their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $56.34 on Tuesday. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $57.35. The firm has a market cap of $7.46 billion, a P/E ratio of 25.96 and a beta of 1.08. The company has a 50 day moving average of $53.97 and a 200 day moving average of $50.73. The company has a quick ratio of 1.16, a current 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 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. During the same period last year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that First Industrial Realty Trust will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.63%. 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 hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in First Industrial Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after purchasing an additional 77,270 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of First Industrial Realty Trust by 8.4% in the 1st quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after acquiring an additional 380,805 shares during the last quarter. Nomura Holdings Inc. lifted its stake in First Industrial Realty Trust by 14.9% in the fourth quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock worth $163,856,000 after purchasing an additional 402,744 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of First Industrial Realty Trust by 7.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after acquiring an additional 148,996 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of First Industrial Realty Trust by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after purchasing an additional 118,239 shares during the period. Hedge funds and other 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.