First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Average Price Target from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $57.83.

Several research firms recently weighed in on FR. Wells Fargo & Company boosted their price objective on 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. Scotiabank increased their price objective 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 lowered their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Mizuho upped their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th.

First Industrial Realty Trust Stock Down 0.4 %

Shares of First Industrial Realty Trust stock opened at $50.52 on Thursday. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The stock has a market capitalization of $6.69 billion, a P/E ratio of 21.68 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $53.05 and a two-hundred day moving average price of $52.86.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. Equities analysts expect that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.93%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently bought and sold shares of FR. Allspring Global Investments Holdings LLC grew its stake in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Stifel Financial Corp grew its position in First Industrial Realty Trust by 1.1% during the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after acquiring an additional 278 shares during the last quarter. Azzad Asset Management Inc. ADV increased its holdings in First Industrial Realty Trust by 4.8% during the 2nd 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 in the last quarter. Farther Finance Advisors LLC raised its position in First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the last quarter. Finally, Fortem Financial Group LLC boosted its stake in First Industrial Realty Trust by 4.6% in the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after purchasing an additional 438 shares in the last quarter. Institutional investors and hedge funds 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.