Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Target Price at $57.83

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

A number of research firms have weighed in on FR. 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 research note on Thursday, September 5th. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Barclays reduced their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in First Industrial Realty Trust in the 3rd quarter valued at about $28,000. Allspring Global Investments Holdings LLC grew its position 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 worth $30,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. increased its stake in shares of First Industrial Realty Trust by 116.2% during the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 466 shares during the period. Blue Trust Inc. raised its holdings in First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in 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 worth $53,000 after acquiring an additional 417 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 0.6 %

FR stock opened at $50.82 on Thursday. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The business’s 50-day moving average is $52.96 and its 200 day moving average is $52.89. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 21.81 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same period in the previous year, the company posted $0.62 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that First Industrial Realty Trust will post 2.63 EPS 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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.91%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

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.