First Industrial Realty Trust (NYSE:FR) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of First Industrial Realty Trust (NYSE:FR) from a sell rating to a neutral rating in a report published on Friday, MarketBeat Ratings reports. The brokerage currently has $59.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $52.00.

Several other equities analysts also recently commented on FR. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock. Robert W. Baird increased their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Barclays reduced their target price on 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 raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus target price of $58.31.

First Industrial Realty Trust Trading Down 0.1 %

Shares of FR stock opened at $55.69 on Friday. The firm has a market capitalization of $7.37 billion, a P/E ratio of 25.55 and a beta of 1.09. First Industrial Realty Trust has a twelve month low of $45.10 and a twelve month high of $57.35. The stock’s fifty day simple moving average is $52.26 and its 200 day simple moving average is $53.65. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly 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, sell-side analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.20%. First Industrial Realty Trust’s payout ratio is presently 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in First Industrial Realty Trust by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 210 shares during the period. UMB Bank n.a. lifted its stake in shares of First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 214 shares during the period. Stifel Financial Corp lifted its stake in shares of First Industrial Realty Trust by 0.9% in the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 222 shares during the period. Principal Securities Inc. lifted its stake in shares of First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 269 shares during the period. Finally, Fortem Financial Group LLC lifted its stake in shares of First Industrial Realty Trust by 2.9% in the 4th quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock worth $517,000 after acquiring an additional 292 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

About First Industrial Realty Trust

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.