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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus rating of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $58.38.

FR has been the topic of several research analyst reports. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. Robert W. Baird increased 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. Finally, KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $53.60 on Friday. The company has a market cap of $7.10 billion, a P/E ratio of 24.59 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $54.99 and a two-hundred day moving average price of $53.74. 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 issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping 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%. As a group, analysts anticipate 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. Shareholders 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 currently 81.65%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of FR. Invesco Ltd. grew its stake in First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after purchasing an additional 1,903,164 shares during the period. Norges Bank bought a new position in First Industrial Realty Trust during the fourth quarter valued at about $90,489,000. Rush Island Management LP bought a new position in First Industrial Realty Trust during the third quarter valued at about $60,848,000. JPMorgan Chase & Co. increased its holdings in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares during the last quarter. Finally, Deutsche Bank AG raised its position in First Industrial Realty Trust by 56.1% in the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock worth $94,176,000 after acquiring an additional 675,306 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.