First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Hold” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given an average recommendation of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.83.

A number of equities analysts have recently issued reports on FR shares. Barclays reduced their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday. Mizuho increased their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Scotiabank boosted their target price on shares of 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. Finally, Wells Fargo & Company raised their price target 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.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Synovus Financial Corp grew its position in First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after buying an additional 13,922 shares during the period. D. E. Shaw & Co. Inc. boosted its position in First Industrial Realty Trust by 17.6% during the second quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock worth $25,271,000 after purchasing an additional 79,515 shares in the last quarter. United Services Automobile Association acquired a new stake in First Industrial Realty Trust in the second quarter valued at approximately $507,000. Allspring Global Investments Holdings LLC increased its position in shares of First Industrial Realty Trust by 2,886.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 18,212 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of First Industrial Realty Trust by 77.7% during the 2nd quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock valued at $6,813,000 after buying an additional 62,700 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Price Performance

FR opened at $50.06 on Thursday. The firm has a market capitalization of $6.63 billion, a PE ratio of 21.49 and a beta of 1.07. 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 business’s 50-day moving average is $53.37 and its two-hundred day moving average is $52.77. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued 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 firm had revenue of $167.60 million for 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 company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Research analysts anticipate that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.96%. First Industrial Realty Trust’s payout ratio is 63.52%.

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.