First Industrial Realty Trust’s (FR) “Outperform” Rating Reiterated at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of First Industrial Realty Trust (NYSE:FR) in a research report released on Monday morning,Benzinga reports. The firm currently has a $60.00 price target on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the stock. Mizuho raised their price objective on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Monday, September 8th. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Scotiabank upped their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a report on Wednesday, August 27th. Five investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $55.00.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $52.14 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. First Industrial Realty Trust has a twelve month low of $40.31 and a twelve month high of $58.17. The business’s 50 day moving average price is $50.61 and its two-hundred day moving average price is $49.82. The company has a market cap of $6.90 billion, a PE ratio of 25.43 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million for the quarter, compared to analysts’ expectations of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Tuesday, September 30th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.78 annualized dividend and a yield of 3.4%. First Industrial Realty Trust’s payout ratio is currently 86.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its stake in First Industrial Realty Trust by 26.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust’s stock worth $536,000 after buying an additional 2,106 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of First Industrial Realty Trust by 55.4% during the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust’s stock worth $91,000 after acquiring an additional 599 shares during the period. Summit Trail Advisors LLC boosted its position in shares of First Industrial Realty Trust by 155.1% during the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust’s stock worth $583,000 after acquiring an additional 6,516 shares in the last quarter. SG Americas Securities LLC bought a new position in First Industrial Realty Trust in the first quarter valued at approximately $481,000. Finally, Artemis Investment Management LLP acquired a new position in First Industrial Realty Trust during the first quarter valued at approximately $40,294,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.