First Industrial Realty Trust (NYSE:FR) Reaches New 52-Week Low Following Analyst Downgrade

First Industrial Realty Trust, Inc. (NYSE:FR) hit a new 52-week low on Monday after Scotiabank lowered their price target on the stock from $58.00 to $50.00. Scotiabank currently has a sector perform rating on the stock. First Industrial Realty Trust traded as low as $44.01 and last traded at $44.46, with a volume of 73426 shares traded. The stock had previously closed at $47.68.

FR has been the topic of several other reports. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price objective for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $57.77.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FR. Rhumbline Advisers raised its holdings in First Industrial Realty Trust by 0.4% during the 1st quarter. Rhumbline Advisers now owns 407,607 shares of the real estate investment trust’s stock worth $21,994,000 after purchasing an additional 1,693 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 821 shares during the period. GAMMA Investing LLC increased its stake in First Industrial Realty Trust by 8,283.3% in the first quarter. GAMMA Investing LLC now owns 90,707 shares of the real estate investment trust’s stock valued at $4,895,000 after purchasing an additional 89,625 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of First Industrial Realty Trust by 571.2% during the 1st quarter. Versant Capital Management Inc now owns 6,719 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 5,718 shares in the last quarter. Finally, Boston Common Asset Management LLC raised its stake in First Industrial Realty Trust by 53.5% during the 1st quarter. Boston Common Asset Management LLC now owns 129,013 shares of the real estate investment trust’s stock worth $6,962,000 after buying an additional 44,985 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Stock Down 5.2 %

The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $54.35 and a 200 day simple moving average of $53.32. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 19.70 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released 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 net margin of 42.94% and a return on equity of 10.64%. As a group, analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 81.65%.

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.