First Industrial Realty Trust (NYSE:FR) Price Target Raised to $62.00

First Industrial Realty Trust (NYSE:FR) had its target price boosted by Mizuho from $58.00 to $62.00 in a research report released on Thursday morning, Benzinga reports. Mizuho currently has an outperform rating on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on FR. Royal Bank of Canada lifted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an outperform rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on shares of 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. BNP Paribas started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an outperform rating and a $57.00 price target on the stock. Scotiabank boosted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a sector perform rating in a research report on Monday, August 26th. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a peer perform rating to an outperform rating and set a $64.00 price target on the stock in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $56.46.

First Industrial Realty Trust Trading Down 0.4 %

First Industrial Realty Trust stock opened at $56.44 on Thursday. The stock has a market cap of $7.47 billion, a P/E ratio of 26.01 and a beta of 1.07. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $57.35. The firm’s 50 day moving average price is $52.76 and its 200-day moving average price is $50.64.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. On average, equities analysts predict that First Industrial Realty Trust will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

Large investors have recently made changes to their positions in the stock. Centersquare Investment Management LLC boosted its stake in shares of First Industrial Realty Trust by 8.4% during the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after purchasing an additional 380,805 shares during the period. Campbell & CO Investment Adviser LLC boosted its stake in shares of First Industrial Realty Trust by 66.4% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock valued at $2,197,000 after purchasing an additional 16,652 shares during the period. Cibc World Markets Corp purchased a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at $11,808,000. Frontier Capital Management Co. LLC boosted its stake in shares of First Industrial Realty Trust by 788.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after purchasing an additional 1,105,286 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of First Industrial Realty Trust during the second quarter valued at $2,824,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.