First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Recommendation of “Hold” from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has earned a consensus rating of “Hold” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $57.38.

FR has been the subject of several research reports. Barclays cut their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in FR. JPMorgan Chase & Co. increased its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after purchasing an additional 747,101 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock valued at $138,214,000 after buying an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust’s stock valued at $110,581,000 after buying an additional 23,280 shares during the period. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after buying an additional 665,920 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 2.5 %

Shares of First Industrial Realty Trust stock opened at $55.13 on Friday. The company has a 50-day moving average of $51.56 and a two-hundred day moving average of $53.49. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.30 billion, a PE ratio of 23.66 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. On average, research analysts anticipate that First Industrial Realty Trust will post 2.64 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.23%. 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.