First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $63.5714.

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Royal Bank Of Canada raised their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Scotiabank raised their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Barclays reissued a “positive” rating and issued a $64.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, January 13th. Finally, Citigroup increased their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Measured Wealth Private Client Group LLC acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $26,000. Parallel Advisors LLC increased its stake in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 291 shares during the period. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at $39,000. Caitong International Asset Management Co. Ltd raised its position in First Industrial Realty Trust by 64.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after purchasing an additional 301 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in First Industrial Realty Trust in the third quarter valued at approximately $47,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 0.1%

NYSE FR opened at $62.47 on Friday. First Industrial Realty Trust has a 52 week low of $47.36 and a 52 week high of $64.66. The company has a 50 day moving average price of $60.75 and a 200 day moving average price of $58.79. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The firm has a market cap of $8.28 billion, a PE ratio of 24.21 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). The business had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. First Industrial Realty Trust had a return on equity of 12.36% and a net margin of 45.98%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, sell-side analysts forecast that First Industrial Realty Trust will post 3.15 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.