First Industrial Realty Trust (NYSE:FR) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust (NYSE:FR) in a research note published on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $52.00 price objective on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on the company. Barclays reduced their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $57.38.

First Industrial Realty Trust Stock Up 2.5 %

FR stock opened at $51.38 on Tuesday. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 22.05 and a beta of 1.08. The company has a 50-day moving average of $51.65 and a two-hundred day moving average of $53.13. First Industrial Realty Trust has a 52-week low of $45.10 and a 52-week 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 posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. As a group, equities research analysts anticipate that First Industrial Realty Trust will post 2.63 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.88%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 63.52%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp boosted its holdings in First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after purchasing an additional 13,922 shares in the last quarter. Franklin Resources Inc. boosted its stake in First Industrial Realty Trust by 42.9% in the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock valued at $10,546,000 after buying an additional 58,088 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in First Industrial Realty Trust by 17.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock valued at $25,271,000 after buying an additional 79,515 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in First Industrial Realty Trust by 2,886.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock valued at $1,055,000 after acquiring an additional 18,212 shares during the period. Finally, Renaissance Technologies LLC raised its stake in First Industrial Realty Trust by 77.7% during the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock worth $6,813,000 after acquiring an additional 62,700 shares in the last quarter. Institutional investors and hedge funds 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.