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

First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $56.46.

Several research analysts recently issued reports on the company. Truist Financial upped their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th.

First Industrial Realty Trust Stock Performance

FR stock opened at $56.34 on Tuesday. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $57.35. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 25.96 and a beta of 1.08. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a 50-day simple moving average of $53.97 and a two-hundred day simple moving average of $50.73.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. First Industrial Realty Trust’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, equities analysts forecast that First Industrial Realty Trust will post 2.62 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Farmers & Merchants Investments Inc. raised its position in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 200 shares during the period. Mather Group LLC. purchased a new position in shares of First Industrial Realty Trust during the 1st quarter valued at approximately $50,000. C M Bidwell & Associates Ltd. lifted its stake in shares of First Industrial Realty Trust by 119.5% in the 4th 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 during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in First Industrial Realty Trust during the fourth quarter worth $82,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.