First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Consensus Price Target from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned an average recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $57.83.

Several research firms have issued reports on FR. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Mizuho raised their price objective on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Barclays reduced their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. Wells Fargo & Company increased their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th.

First Industrial Realty Trust Trading Up 2.3 %

Shares of FR opened at $50.73 on Thursday. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The firm has a market capitalization of $6.71 billion, a P/E ratio of 21.77 and a beta of 1.07. The firm has a 50-day moving average price of $53.13 and a 200 day moving average price of $52.79. 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 posted 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. The company had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 EPS. Sell-side analysts forecast 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. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.92%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in First Industrial Realty Trust by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after acquiring an additional 15,093 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock valued at $122,182,000 after buying an additional 81,826 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of First Industrial Realty Trust by 7.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after acquiring an additional 148,996 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Industrial Realty Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after acquiring an additional 118,239 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in First Industrial Realty Trust by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock worth $62,776,000 after purchasing an additional 11,522 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.