First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Average PT from Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $57.83.

FR has been the topic of several recent research reports. Scotiabank upped their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Mizuho increased their target price 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. Barclays dropped their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research report on Monday, November 18th. Truist Financial upped their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $53.85 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $7.13 billion, a PE ratio of 23.38 and a beta of 1.08. First Industrial Realty Trust has a 1 year low of $45.02 and a 1 year high of $57.35. The stock has a fifty day moving average price of $54.26 and a 200 day moving average price of $52.15.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 11.53% and a net margin of 47.34%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 EPS. Sell-side analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm 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 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 63.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp raised its position in shares of First Industrial Realty Trust by 1.1% in the 3rd quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock worth $1,450,000 after buying an additional 278 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 295 shares during the last quarter. Farther Finance Advisors LLC grew its position in First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 417 shares during the period. Finally, Fortem Financial Group LLC grew its position 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 valued at $469,000 after acquiring an additional 438 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.