First Industrial Realty Trust (NYSE:FR) Sets New 1-Year High – Should You Buy?

First Industrial Realty Trust, Inc. (NYSE:FR) hit a new 52-week high on Wednesday . The company traded as high as $64.81 and last traded at $65.0750, with a volume of 108265 shares changing hands. The stock had previously closed at $64.43.

Wall Street Analyst Weigh In

A number of brokerages have commented on FR. Truist Financial increased their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Wells Fargo & Company reduced their price target on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $63.93.

First Industrial Realty Trust Stock Up 0.4%

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 company’s fifty day simple moving average is $62.27 and its 200 day simple moving average is $60.54. The firm has a market capitalization of $8.58 billion, a PE ratio of 25.11 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The company 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 3.1%. First Industrial Realty Trust’s dividend payout ratio is 77.52%.

Institutional Trading of First Industrial Realty Trust

Hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC increased its stake in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 163 shares in the last quarter. Crossmark Global Holdings Inc. boosted its stake in First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 179 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in First Industrial Realty Trust by 4.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 183 shares during the period. Quadrant Capital Group LLC increased its stake in shares of First Industrial Realty Trust by 2.0% during the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 211 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of First Industrial Realty Trust by 9.4% during the fourth quarter. Signaturefd LLC now owns 2,809 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 242 shares in the last quarter. 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 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.