First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $57.83.

A number of equities research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on 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. Scotiabank raised their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday. Mizuho increased 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 research note on Thursday, September 5th. Finally, Barclays dropped their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th.

First Industrial Realty Trust Stock Down 3.7 %

Shares of FR opened at $50.06 on Thursday. The business’s 50 day simple moving average is $53.37 and its 200-day simple moving average is $52.77. First Industrial Realty Trust has a 1 year low of $45.10 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. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 21.49 and a beta of 1.07.

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

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Institutional Trading of First Industrial Realty Trust

A number of large investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $28,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 200 shares in the last quarter. UMB Bank n.a. lifted its position in shares of 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 during the period. Blue Trust Inc. lifted its position in shares of First Industrial Realty Trust by 201.9% in 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 period. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.