Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) PT at $57.92

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $57.92.

Several research firms recently commented on FR. The Goldman Sachs Group upped their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. Scotiabank lifted their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Barclays upped their price objective on shares of First Industrial Realty Trust from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FR. Farmers & Merchants Investments Inc. grew its stake in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 469 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in First Industrial Realty Trust in the third quarter worth $28,000. Allspring Global Investments Holdings LLC grew its position in First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. increased its stake in First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 466 shares during the last quarter. Finally, Blue Trust Inc. raised its position in First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 0.4 %

Shares of First Industrial Realty Trust stock opened at $52.72 on Wednesday. The stock has a fifty day moving average price of $55.39 and a 200-day moving average price of $51.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $6.98 billion, a PE ratio of 22.63 and a beta of 1.08. First Industrial Realty Trust has a 1 year low of $42.38 and a 1 year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. Equities research analysts anticipate that First Industrial Realty Trust will post 2.63 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.81%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

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.