First Industrial Realty Trust, Inc. (NYSE:FR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $58.31.

FR has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $52.00 to $59.00 in a report on Friday, February 21st. Barclays lowered 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 research note on Monday, November 18th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after acquiring an additional 304,589 shares during the last quarter. Invesco Ltd. raised its stake in shares of First Industrial Realty Trust by 80.2% in the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after acquiring an additional 1,903,164 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after acquiring an additional 747,101 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock valued at $124,492,000 after acquiring an additional 14,298 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of First Industrial Realty Trust by 5.7% in the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock valued at $121,922,000 after acquiring an additional 130,819 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Down 0.2 %

Shares of FR stock opened at $56.99 on Tuesday. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.56. The firm’s fifty day simple moving average is $52.97 and its 200 day simple moving average is $53.78. The firm has a market capitalization of $7.55 billion, a P/E ratio of 26.14 and a beta of 1.09. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

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

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio 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.