First Industrial Realty Trust (NYSE:FR) Price Target Raised to $56.00 at Barclays

First Industrial Realty Trust (NYSE:FR) had its target price lifted by Barclays from $55.00 to $56.00 in a report issued on Tuesday,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on FR. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $59.00 in a report on Friday, February 21st. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.38.

First Industrial Realty Trust Stock Down 0.2 %

FR opened at $54.28 on Tuesday. First Industrial Realty Trust has a one year low of $45.10 and a one year high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market capitalization of $7.19 billion, a P/E ratio of 24.90 and a beta of 1.07. The business’s 50-day simple moving average is $54.94 and its 200-day simple moving average is $53.76.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Analysts anticipate that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.28%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Howard Capital Management Group LLC acquired a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at about $206,000. Natixis Advisors LLC increased its stake in First Industrial Realty Trust by 12.3% in the 3rd quarter. Natixis Advisors LLC now owns 25,497 shares of the real estate investment trust’s stock valued at $1,427,000 after buying an additional 2,783 shares during the period. Pathstone Holdings LLC grew its holdings in shares of First Industrial Realty Trust by 3.0% during the 3rd quarter. Pathstone Holdings LLC now owns 29,686 shares of the real estate investment trust’s stock valued at $1,663,000 after acquiring an additional 869 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of First Industrial Realty Trust by 3.9% during the 3rd 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 acquiring an additional 81,826 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of First Industrial Realty Trust during the 3rd quarter valued at $496,000. 99.85% of the stock is 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.