Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $57.83

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given an average recommendation of “Hold” by the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $57.83.

A number of brokerages have recently commented on FR. 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. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays dropped their price target on 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. Wells Fargo & Company upped their price objective 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. Finally, Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th.

First Industrial Realty Trust Trading Down 0.4 %

Shares of First Industrial Realty Trust stock opened at $50.52 on Thursday. The business has a fifty day simple moving average of $53.05 and a 200-day simple moving average of $52.86. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 21.68 and a beta of 1.07. First Industrial Realty Trust has a fifty-two week low of $45.10 and a fifty-two week high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The company had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, equities analysts forecast that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend 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 63.52%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its stake in shares of First Industrial Realty Trust by 27.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 10,211 shares of the real estate investment trust’s stock valued at $485,000 after buying an additional 2,182 shares in the last quarter. Raymond James & Associates increased its stake in shares of First Industrial Realty Trust by 8.1% during the 2nd quarter. Raymond James & Associates now owns 25,863 shares of the real estate investment trust’s stock worth $1,229,000 after purchasing an additional 1,946 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of First Industrial Realty Trust by 8.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,607 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 517 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at $205,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of First Industrial Realty Trust by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock valued at $62,776,000 after purchasing an additional 11,522 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.