Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $56.46

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $56.46.

Several research analysts recently commented on FR shares. Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank boosted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company raised their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price objective on the stock in a research report on Tuesday, August 13th.

First Industrial Realty Trust Stock Up 0.6 %

Shares of FR opened at $56.66 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of 26.11 and a beta of 1.08. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $57.35. The business’s 50 day simple moving average is $54.15 and its 200-day simple moving average is $50.74.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same period in the previous year, the company earned $0.61 EPS. First Industrial Realty Trust’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that First Industrial Realty Trust will post 2.62 earnings per share for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its stake in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 200 shares during the period. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust during the first quarter valued at approximately $50,000. C M Bidwell & Associates Ltd. increased its holdings in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in First Industrial Realty Trust in the fourth quarter worth approximately $82,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.