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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $57.83.

Several research firms recently commented on FR. Scotiabank upped their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a report on Tuesday, August 13th. Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Barclays dropped 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 report on Monday, November 18th.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC raised its stake in shares of First Industrial Realty Trust by 4.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust’s stock valued at $715,000 after purchasing an additional 588 shares during the period. Quadrature Capital Ltd purchased a new position in First Industrial Realty Trust in the 1st quarter valued at about $305,000. Bamco Inc. NY boosted its position in First Industrial Realty Trust by 3.2% in the 1st quarter. Bamco Inc. NY now owns 86,939 shares of the real estate investment trust’s stock valued at $4,568,000 after buying an additional 2,700 shares during the last quarter. BROOKFIELD Corp ON grew its stake in shares of First Industrial Realty Trust by 479.8% during the first quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock valued at $25,544,000 after acquiring an additional 402,331 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of First Industrial Realty Trust during the first quarter worth about $220,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $54.08 on Friday. First Industrial Realty Trust has a 12-month low of $45.02 and a 12-month high of $57.35. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of 23.21 and a beta of 1.08. The company’s 50-day moving average is $54.11 and its two-hundred day moving average is $52.22. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Research analysts expect that First Industrial Realty Trust will post 2.63 EPS for the current 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 $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

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.