First Industrial Realty Trust, Inc. (NYSE:FR) Receives $56.58 Consensus PT from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $56.00.

A number of analysts recently commented on FR shares. Scotiabank upped their price target on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Robert W. Baird lowered their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group lowered their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, Truist Financial lowered their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 5th.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $50.32 on Friday. The stock has a market capitalization of $6.66 billion, a P/E ratio of 23.08 and a beta of 1.08. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm’s 50 day moving average is $49.68 and its 200 day moving average is $51.93. First Industrial Realty Trust has a 12 month low of $40.31 and a 12 month high of $58.17.

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

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 88.12%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. grew its holdings in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 225 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in First Industrial Realty Trust during the 1st quarter valued at about $26,000. UMB Bank n.a. increased its stake in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 747 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 821 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.