First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Hold” by Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.38.

Several research firms have recently issued reports on FR. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Robert W. Baird raised their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their target price for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Howard Capital Management Group LLC purchased a new stake in First Industrial Realty Trust during the third quarter valued at about $206,000. Cerity Partners LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at about $496,000. FMR LLC raised its holdings in shares of First Industrial Realty Trust by 6.2% during the 3rd quarter. FMR LLC now owns 326,754 shares of the real estate investment trust’s stock valued at $18,292,000 after buying an additional 18,958 shares in the last quarter. BNP Paribas Financial Markets lifted its position in First Industrial Realty Trust by 77.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 121,655 shares of the real estate investment trust’s stock worth $6,810,000 after buying an additional 53,266 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Industrial Realty Trust by 2.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 71,841 shares of the real estate investment trust’s stock worth $4,022,000 after buying an additional 1,462 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $53.60 on Friday. The company has a market capitalization of $7.10 billion, a P/E ratio of 24.59 and a beta of 1.07. The business has a fifty day simple moving average of $54.99 and a two-hundred day simple moving average of $53.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.32%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

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.