First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Rating of “Moderate Buy” from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $57.92.

Several analysts have recently weighed in on FR shares. Mizuho lifted their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, September 5th. Wolfe Research raised shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, August 13th. Royal Bank of Canada boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group boosted their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Finally, Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, August 5th.

Institutional Investors Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Land & Buildings Investment Management LLC boosted its holdings in First Industrial Realty Trust by 256.4% in the second 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 last quarter. Russell Investments Group Ltd. boosted its holdings in First Industrial Realty Trust by 328.4% in the first 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in First Industrial Realty Trust in the second quarter valued at $23,755,000. Bank of Montreal Can boosted its holdings in First Industrial Realty Trust by 442.8% in the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock valued at $26,570,000 after purchasing an additional 456,124 shares during the last quarter. Finally, BROOKFIELD Corp ON boosted its holdings in First Industrial Realty Trust by 479.8% in the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock valued at $25,544,000 after purchasing an additional 402,331 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 1.4 %

Shares of NYSE:FR opened at $52.83 on Wednesday. First Industrial Realty Trust has a 1 year low of $40.58 and a 1 year high of $57.35. The business has a 50 day simple moving average of $55.50 and a two-hundred day simple moving average of $51.33. The firm has a market capitalization of $6.99 billion, a PE ratio of 24.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating 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 firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that First Industrial Realty Trust will post 2.63 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. First Industrial Realty Trust’s payout ratio is currently 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.