First Industrial Realty Trust, Inc. (NYSE:FR) Receives $58.38 Consensus Target Price from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have earned a consensus rating of “Hold” from the fourteen analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $58.38.

Several research firms recently weighed in on FR. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $52.00 to $59.00 in a report on Friday, February 21st. Finally, Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th.

First Industrial Realty Trust Trading Down 4.6 %

Shares of First Industrial Realty Trust stock opened at $47.72 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The business has a fifty day simple moving average of $54.93 and a two-hundred day simple moving average of $53.60. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $58.17. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 21.89 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Research analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.73%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 81.65%.

Institutional Trading of First Industrial Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc raised its stake in First Industrial Realty Trust by 571.2% during the first quarter. Versant Capital Management Inc now owns 6,719 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 5,718 shares in the last quarter. Boston Common Asset Management LLC increased its position in First Industrial Realty Trust by 53.5% during the 1st quarter. Boston Common Asset Management LLC now owns 129,013 shares of the real estate investment trust’s stock worth $6,962,000 after purchasing an additional 44,985 shares in the last quarter. Kera Capital Partners Inc. bought a new position in First Industrial Realty Trust in the 1st quarter valued at approximately $224,000. 111 Capital bought a new position in First Industrial Realty Trust in the 4th quarter valued at approximately $394,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in First Industrial Realty Trust in the fourth quarter valued at approximately $392,000. 99.85% of the stock is currently owned by institutional investors.

About First Industrial Realty Trust

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.