First Industrial Realty Trust (NYSE:FR) Given New $53.00 Price Target at JPMorgan Chase & Co.

First Industrial Realty Trust (NYSE:FR) had its target price cut by JPMorgan Chase & Co. from $59.00 to $53.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on FR. TheStreet raised shares of First Industrial Realty Trust from a c+ rating to a b- rating in a report on Thursday, January 11th. Mizuho reissued a buy rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an outperform rating in a report on Friday, February 16th. Barclays reaffirmed an equal weight rating and issued a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Finally, Truist Financial upped their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a buy rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust currently has an average rating of Hold and an average target price of $53.78.

First Industrial Realty Trust Price Performance

Shares of FR opened at $46.03 on Wednesday. The firm has a market capitalization of $6.09 billion, a PE ratio of 21.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.22. The company’s fifty day moving average price is $51.89 and its 200-day moving average price is $49.89.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.37 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, March 27th. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of FR. Norges Bank acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $78,559,000. Frontier Capital Management Co. LLC increased its holdings in shares of First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after buying an additional 1,105,286 shares during the last quarter. Centersquare Investment Management LLC increased its holdings in shares of First Industrial Realty Trust by 23.6% during the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after buying an additional 869,676 shares during the last quarter. Lasalle Investment Management Securities LLC increased its holdings in shares of First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock worth $86,013,000 after buying an additional 541,909 shares during the last quarter. Finally, Crestline Management LP purchased a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $26,335,000. 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.