First Industrial Realty Trust, Inc. (NYSE:FR) Receives $53.42 Consensus PT from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $53.42.

FR has been the topic of several research reports. Wedbush cut First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $59.00 to $49.00 in a report on Thursday, April 25th. BNP Paribas initiated coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Barclays reaffirmed an “equal weight” rating and issued a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Finally, Robert W. Baird reduced their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $47.51 on Thursday. The stock’s 50-day simple moving average is $47.02 and its 200-day simple moving average is $50.58. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.22. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.89 and a beta of 1.07. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.12%. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Farmers & Merchants Investments Inc. boosted its holdings in shares of First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 469 shares during the period. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at approximately $50,000. EdgeRock Capital LLC purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $56,000. C M Bidwell & Associates Ltd. boosted its holdings in shares of First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $82,000. Institutional investors 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.