First Industrial Realty Trust, Inc. (NYSE:FR) Receives Consensus Rating of “Hold” from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has been given an average recommendation of “Hold” by the fourteen analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $53.42.

A number of research firms have recently commented on FR. Mizuho reiterated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Scotiabank reduced their price target on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Robert W. Baird lowered their price objective on shares of 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 downgraded shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds have recently modified their holdings of FR. Farmers & Merchants Investments Inc. boosted its holdings 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 worth $28,000 after acquiring an additional 469 shares during the period. Mather Group LLC. bought a new stake in First Industrial Realty Trust during the first quarter valued at $50,000. EdgeRock Capital LLC acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $56,000. C M Bidwell & Associates Ltd. lifted its holdings in First Industrial Realty Trust by 119.5% in the fourth 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 during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of First Industrial Realty Trust in the 4th quarter worth approximately $82,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $47.04 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $46.96 and a 200 day moving average price of $50.62. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 21.68 and a beta of 1.07. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.22.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.