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

First Industrial Realty Trust, Inc. (NYSE:FR) has earned a consensus rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $57.15.

A number of brokerages have weighed in on FR. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Scotiabank decreased their price target on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a report on Monday, April 7th. Finally, The Goldman Sachs Group dropped their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday.

First Industrial Realty Trust Stock Up 2.1 %

Shares of FR opened at $46.40 on Wednesday. The company has a market capitalization of $6.14 billion, a P/E ratio of 21.28 and a beta of 1.07. First Industrial Realty Trust has a one year low of $40.31 and a one year high of $58.17. The business’s 50 day simple moving average is $52.55 and its 200-day simple moving average is $52.63. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The business had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. As a group, sell-side analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a $0.445 dividend. The ex-dividend date was Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.84%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 88.12%.

Institutional Investors Weigh In On First Industrial Realty Trust

Several large investors have recently modified their holdings of FR. CIBC Asset Management Inc lifted its holdings in shares of First Industrial Realty Trust by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 210 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 214 shares during the period. Stifel Financial Corp increased its position in shares of First Industrial Realty Trust by 0.9% during the fourth quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 222 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 236 shares during the period. Finally, Principal Securities Inc. lifted its position in First Industrial Realty Trust by 9.3% in the 4th quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 269 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

About First Industrial Realty Trust

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.