BNP Paribas Begins Coverage on First Industrial Realty Trust (NYSE:FR)

BNP Paribas began coverage on shares of First Industrial Realty Trust (NYSE:FRFree Report) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $57.00 target price on the real estate investment trust’s stock.

FR has been the topic of several other research reports. Barclays reissued an equal weight rating and issued a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Scotiabank dropped their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a sector perform rating on the stock in a research note on Thursday, May 16th. Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an outperform rating in a research note on Friday, February 16th. Wedbush downgraded First Industrial Realty Trust from an outperform rating to a neutral rating and dropped their price target for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average price target of $53.42.

Check Out Our Latest Stock Report on First Industrial Realty Trust

First Industrial Realty Trust Stock Performance

FR opened at $46.86 on Tuesday. The business’s 50-day moving average price is $48.13 and its two-hundred day moving average price is $50.58. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 21.59 and a beta of 1.07. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in First Industrial Realty Trust by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 275 shares during the last quarter. Cetera Trust Company N.A bought a new stake in shares of First Industrial Realty Trust during the fourth quarter worth approximately $237,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of First Industrial Realty Trust by 66.4% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock worth $2,197,000 after acquiring an additional 16,652 shares during the period. Deutsche Bank AG boosted its holdings in shares of First Industrial Realty Trust by 16.6% during the third quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock worth $10,655,000 after acquiring an additional 31,887 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of First Industrial Realty Trust by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust’s stock worth $2,146,000 after acquiring an additional 21,780 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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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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