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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $57.83.

A number of analysts have recently commented on FR shares. Scotiabank lifted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Barclays reduced their price objective 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. Mizuho increased their price objective 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. Royal Bank of Canada lifted their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target for the company in a research report on Tuesday, August 13th.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $53.85 on Friday. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 23.38 and a beta of 1.08. First Industrial Realty Trust has a 52-week low of $45.02 and a 52-week high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $54.26 and a 200 day moving average price of $52.15.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. During the same period last year, the firm posted $0.62 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Research analysts predict that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 2.75%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in First Industrial Realty Trust by 46.4% during 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 during the period. Stifel Financial Corp grew its stake in shares of First Industrial Realty Trust by 1.1% during the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after purchasing an additional 278 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in shares of First Industrial Realty Trust by 4.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after purchasing an additional 295 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the period. Finally, Fortem Financial Group LLC boosted its holdings in First Industrial Realty Trust by 4.6% during the second quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares in the last quarter. 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.