First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given an average rating of “Moderate Buy” by the twelve analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $57.83.

Several research firms recently issued reports on FR. Wolfe Research raised 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. Barclays dropped their target price on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Mizuho raised their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Finally, Truist Financial upped their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in shares of First Industrial Realty Trust by 46.4% during the second 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 period. Stifel Financial Corp raised its stake in shares of First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after buying an additional 278 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 295 shares during the period. Farther Finance Advisors LLC boosted its stake in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 417 shares in the last quarter. Finally, Fortem Financial Group LLC grew its holdings in First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after acquiring an additional 438 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $54.08 on Friday. The firm has a fifty day moving average of $54.11 and a two-hundred day moving average of $52.22. The firm has a market cap of $7.16 billion, a P/E ratio of 23.21 and a beta of 1.08. First Industrial Realty Trust has a 1-year low of $45.02 and a 1-year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping 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 business had revenue of $167.60 million for the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter last year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts anticipate that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced 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. This represents a $1.48 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is currently 63.52%.

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.