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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have earned an average recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $58.38.

Several research analysts recently issued reports on FR shares. Robert W. Baird raised their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays restated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their price target for the stock from $52.00 to $59.00 in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors have recently made changes to their positions in FR. 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. 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. Kera Capital Partners Inc. bought a new position in First Industrial Realty Trust in the first quarter worth approximately $224,000. 111 Capital acquired a new stake in First Industrial Realty Trust in the fourth quarter valued at approximately $394,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $392,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $47.72 on Friday. The stock’s 50-day moving average is $54.93 and its 200-day moving average is $53.60. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $58.17. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market cap of $6.32 billion, a P/E ratio of 21.89 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Equities research analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders 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 yield of 3.73%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 81.65%.

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.