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

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $56.46.

Several brokerages have recently commented on FR. Truist Financial increased their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Mizuho upped 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 report on Thursday, September 5th. The Goldman Sachs Group increased their price objective on shares of 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, Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $78,559,000. Frontier Capital Management Co. LLC grew its stake in shares of First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares during the period. Centersquare Investment Management LLC increased its holdings in shares of First Industrial Realty Trust by 23.6% during the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock valued at $239,728,000 after purchasing an additional 869,676 shares in the last quarter. Land & Buildings Investment Management LLC lifted its stake in shares of First Industrial Realty Trust by 256.4% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after purchasing an additional 581,472 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of First Industrial Realty Trust by 328.4% in the 1st quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock valued at $39,413,000 after purchasing an additional 575,057 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

FR opened at $56.66 on Tuesday. The firm has a market capitalization of $7.50 billion, a PE ratio of 26.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. The business’s 50-day moving average is $54.15 and its two-hundred day moving average is $50.74. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (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 firm had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. During the same period in the previous year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts anticipate that First Industrial Realty Trust will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.61%. First Industrial Realty Trust’s dividend payout ratio 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.