First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Consensus Price Target from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $57.83.

A number of research analysts recently commented on the stock. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their target price 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. Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Finally, 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.

Institutional Trading of First Industrial Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock valued at $138,214,000 after buying an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. raised its position in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock worth $122,182,000 after acquiring an additional 81,826 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in First Industrial Realty Trust by 7.3% in the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock valued at $103,465,000 after acquiring an additional 148,996 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Industrial Realty Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after purchasing an additional 118,239 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of First Industrial Realty Trust by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,315 shares of the real estate investment trust’s stock worth $62,776,000 after purchasing an additional 11,522 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Trading Up 0.6 %

NYSE:FR opened at $50.82 on Thursday. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.35. The stock has a market cap of $6.73 billion, a P/E ratio of 21.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $52.96 and a 200-day simple moving average of $52.89.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million during the quarter, compared to the consensus estimate of $164.01 million. During the same period in the prior year, the company posted $0.62 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that First Industrial Realty Trust will post 2.63 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 Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

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.