First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Recommendation of “Hold” by Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been given an average recommendation of “Hold” by the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $53.40.

FR has been the subject of several recent analyst reports. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Truist Financial upped their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada upped their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Mizuho reaffirmed a “buy” rating and issued a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, April 24th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. lifted its holdings in shares of 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 valued at $28,000 after purchasing an additional 469 shares in the last quarter. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust in the first quarter valued at approximately $50,000. EdgeRock Capital LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $56,000. C M Bidwell & Associates Ltd. lifted its holdings in shares of First Industrial Realty Trust by 119.5% in 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 purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $82,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $47.43 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.25. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 21.86 and a beta of 1.05. The stock has a fifty day moving average price of $50.48 and a 200-day moving average price of $50.02.

First Industrial Realty Trust Announces Dividend

The company also recently declared 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 yield of 3.12%. First Industrial Realty Trust’s payout ratio is currently 68.20%.

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.