First Industrial Realty Trust, Inc. (NYSE:FR) Receives $56.46 Average Target Price from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $56.46.

A number of equities research analysts have issued reports on the stock. 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 report on Wednesday, August 28th. Mizuho lifted their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. BNP Paribas began coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target on the stock. Scotiabank lifted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Finally, Royal Bank of Canada boosted their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in First Industrial Realty Trust in the second quarter valued at $271,000. Quarry LP increased its holdings in shares of First Industrial Realty Trust by 30.8% in the 2nd quarter. Quarry LP now owns 2,654 shares of the real estate investment trust’s stock valued at $126,000 after purchasing an additional 625 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Industrial Realty Trust by 8.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,221 shares of the real estate investment trust’s stock valued at $581,000 after purchasing an additional 952 shares in the last quarter. Algert Global LLC lifted its stake in shares of First Industrial Realty Trust by 8.8% in the second quarter. Algert Global LLC now owns 164,047 shares of the real estate investment trust’s stock valued at $7,794,000 after purchasing an additional 13,329 shares during the period. Finally, Lighthouse Investment Partners LLC boosted its holdings in First Industrial Realty Trust by 88.9% during the second quarter. Lighthouse Investment Partners LLC now owns 425,000 shares of the real estate investment trust’s stock worth $20,192,000 after buying an additional 200,000 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $55.60 on Tuesday. The company has a market capitalization of $7.36 billion, a P/E ratio of 25.69 and a beta of 1.08. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $57.35. The stock’s fifty day moving average is $53.64 and its two-hundred day moving average is $50.70.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The company had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.61 earnings per share. Equities analysts expect that First Industrial Realty Trust will post 2.62 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be given a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.66%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.