First Industrial Realty Trust (NYSE:FR) Price Target Raised to $61.00

First Industrial Realty Trust (NYSE:FR) had its price target increased by Robert W. Baird from $59.00 to $61.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft began coverage on 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. Barclays dropped their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.31.

First Industrial Realty Trust Price Performance

Shares of FR opened at $55.69 on Wednesday. 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 company’s fifty day simple moving average is $52.26 and its 200 day simple moving average is $53.63. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $57.35. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 25.55 and a beta of 1.09.

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

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.20%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 67.89%.

Institutional Trading of First Industrial Realty Trust

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its position in shares of First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 481 shares in the last quarter. Blue Trust Inc. increased its stake in First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 636 shares during the period. Farther Finance Advisors LLC increased its stake in First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 417 shares during the period. UMB Bank n.a. raised its holdings in First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 747 shares during the period. Institutional investors 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.