First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Hold” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $57.83.

FR has been the subject of several research reports. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Barclays decreased 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 report on Monday, November 18th.

First Industrial Realty Trust Trading Down 1.7 %

Shares of First Industrial Realty Trust stock opened at $48.52 on Monday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 20.82 and a beta of 1.08. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.35. The company’s fifty day simple moving average is $51.86 and its 200-day simple moving average is $53.13. 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 released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect 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 issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is currently 63.52%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Choreo LLC bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $597,000. American Century Companies Inc. lifted its stake in shares of First Industrial Realty Trust by 10.0% during the second quarter. American Century Companies Inc. now owns 42,763 shares of the real estate investment trust’s stock valued at $2,032,000 after acquiring an additional 3,884 shares during the period. Envestnet Asset Management Inc. boosted its holdings in First Industrial Realty Trust by 4.5% in the second quarter. Envestnet Asset Management Inc. now owns 215,455 shares of the real estate investment trust’s stock valued at $10,236,000 after acquiring an additional 9,188 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Industrial Realty Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after acquiring an additional 118,239 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in First Industrial Realty Trust by 77.7% in the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock worth $6,813,000 after purchasing an additional 62,700 shares during the period. 99.85% of the stock is owned by institutional investors.

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.