First Industrial Realty Trust, Inc. (NYSE:FR) Receives $58.38 Average Price Target from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus rating of “Hold” by the fourteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.38.

Several research analysts have issued reports on FR shares. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Robert W. Baird boosted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th.

First Industrial Realty Trust Price Performance

NYSE FR opened at $53.98 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 12 month low of $45.10 and a 12 month high of $58.17. The company’s 50 day moving average is $55.06 and its two-hundred day moving average is $53.70. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 24.76 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid 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 dividend on an annualized basis and a dividend yield of 3.30%. First Industrial Realty Trust’s payout ratio is 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after acquiring an additional 304,589 shares in the last quarter. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after purchasing an additional 1,903,164 shares during the period. JPMorgan Chase & Co. raised its stake in shares of First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after acquiring an additional 747,101 shares during the period. Geode Capital Management LLC raised its position in First Industrial Realty Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock valued at $124,492,000 after purchasing an additional 14,298 shares during the period. Finally, Alliancebernstein L.P. lifted its position in First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock worth $121,922,000 after acquiring an additional 130,819 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.