Scotiabank Raises First Industrial Realty Trust (NYSE:FR) Price Target to $55.00

First Industrial Realty Trust (NYSE:FR) had its target price upped by Scotiabank from $50.00 to $55.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on FR. Robert W. Baird dropped their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Wedbush cut First Industrial Realty Trust from an outperform rating to a neutral rating and lowered their price objective for the company from $59.00 to $49.00 in a research report on Thursday, April 25th. Royal Bank of Canada lifted their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. BNP Paribas initiated coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an outperform rating and a $57.00 target price on the stock. Finally, The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a sell rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of Hold and an average price target of $54.73.

First Industrial Realty Trust Stock Up 0.8 %

FR traded up $0.42 during trading on Wednesday, reaching $53.58. The stock had a trading volume of 2,019,514 shares, compared to its average volume of 1,058,323. The stock’s 50 day moving average is $49.79 and its two-hundred day moving average is $50.33. 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 company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 24.69 and a beta of 1.07. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.92.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same period last year, the business earned $0.61 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s payout ratio is currently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently bought and sold shares of FR. Farmers & Merchants Investments Inc. lifted its holdings in shares of 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 worth $28,000 after buying an additional 469 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 worth $30,000 after acquiring an additional 200 shares in the last quarter. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust in the 1st quarter worth $50,000. EdgeRock Capital LLC bought a new position in shares of First Industrial Realty Trust in the 4th quarter worth $56,000. Finally, C M Bidwell & Associates Ltd. raised its position in shares of First Industrial Realty Trust by 119.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 765 shares in the last quarter. 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.