First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Consensus Price Target from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given an average rating of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $57.83.

Several research analysts recently weighed in on the company. Barclays reduced their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Mizuho lifted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Scotiabank boosted their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Wells Fargo & Company raised their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th.

First Industrial Realty Trust Stock Up 2.3 %

FR stock opened at $50.73 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s fifty day simple moving average is $53.13 and its 200-day simple moving average is $52.79. First Industrial Realty Trust has a 12 month low of $45.10 and a 12 month high of $57.35. The company has a market capitalization of $6.71 billion, a P/E ratio of 21.77 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities research analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be paid 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 yield of 2.92%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of First Industrial Realty Trust in the third quarter worth about $28,000. Allspring Global Investments Holdings LLC raised its holdings in 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 valued at $30,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. lifted its stake in First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 636 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.