First Industrial Realty Trust, Inc. (NYSE:FR) Receives $56.46 Consensus Target Price from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $57.92.

A number of research analysts have issued reports on FR shares. Scotiabank lifted their target price on 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. Barclays lifted their price target on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research report on Friday, July 26th. Finally, Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a research note on Tuesday, August 13th.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in 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 acquiring an additional 200 shares during the period. Azzad Asset Management Inc. ADV raised its position in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 295 shares during the period. Fortem Financial Group LLC lifted its stake in shares of First Industrial Realty Trust by 4.6% during the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after buying an additional 438 shares in the last quarter. UMB Bank n.a. boosted its holdings in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 1.4 %

Shares of FR stock opened at $54.53 on Friday. The stock has a 50 day simple moving average of $55.18 and a 200 day simple moving average of $51.10. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $57.35. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock has a market cap of $7.22 billion, a P/E ratio of 25.13 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly 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). The company had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. On average, research analysts predict that First Industrial Realty Trust will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.71%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

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.