First Industrial Realty Trust (NYSE:FR) Price Target Lowered to $56.00 at Robert W. Baird

First Industrial Realty Trust (NYSE:FRFree Report) had its price objective lowered by Robert W. Baird from $62.00 to $56.00 in a research report released on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an outperform rating in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating on the stock in a research report on Wednesday, April 24th. TheStreet raised First Industrial Realty Trust from a c+ rating to a b- rating in a research report on Thursday, January 11th. Barclays reaffirmed an equal weight rating and set a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group raised their target price on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a sell rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of Hold and an average price target of $53.40.

View Our Latest Stock Analysis on First Industrial Realty Trust

First Industrial Realty Trust Trading Up 1.2 %

NYSE:FR opened at $47.25 on Wednesday. The company has a market cap of $6.25 billion, a P/E ratio of 21.77 and a beta of 1.05. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.22. The business has a 50 day moving average price of $50.72 and a two-hundred day moving average price of $49.88. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 annualized dividend and a dividend yield of 3.13%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

Large investors have recently modified their holdings of the stock. FORA Capital LLC acquired a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $1,289,000. Daiwa Securities Group Inc. boosted its stake in First Industrial Realty Trust by 9.2% in the 1st quarter. Daiwa Securities Group Inc. now owns 60,811 shares of the real estate investment trust’s stock valued at $3,195,000 after purchasing an additional 5,124 shares during the period. Fortem Financial Group LLC grew its holdings in First Industrial Realty Trust by 9.1% in the 1st quarter. Fortem Financial Group LLC now owns 9,430 shares of the real estate investment trust’s stock valued at $495,000 after buying an additional 783 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in First Industrial Realty Trust in the 1st quarter valued at $230,000. Finally, BNP Paribas Financial Markets increased its position in First Industrial Realty Trust by 143.9% during the 1st quarter. BNP Paribas Financial Markets now owns 222,883 shares of the real estate investment trust’s stock worth $11,710,000 after buying an additional 131,503 shares during the period. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Company Profile

(Get Free Report)

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.

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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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