First Industrial Realty Trust (NYSE:FR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

First Industrial Realty Trust (NYSE:FR) had its price objective lifted by Robert W. Baird from $59.00 to $61.00 in a research report released on Wednesday,Benzinga reports. The firm currently has an outperform rating on the real estate investment trust’s stock.

Several other research analysts also recently issued reports on FR. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $58.31.

First Industrial Realty Trust Stock Performance

First Industrial Realty Trust stock opened at $55.69 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The stock has a market cap of $7.37 billion, a PE ratio of 25.55 and a beta of 1.09. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The business’s 50-day moving average price is $52.26 and its two-hundred day moving average price is $53.63.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio is currently 67.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FR. GF Fund Management CO. LTD. bought a new position in First Industrial Realty Trust during the fourth quarter worth $121,000. PharVision Advisers LLC acquired a new position in shares of First Industrial Realty Trust in the 4th quarter valued at about $263,000. Voloridge Investment Management LLC boosted its position in shares of First Industrial Realty Trust by 20.5% during the 4th quarter. Voloridge Investment Management LLC now owns 164,910 shares of the real estate investment trust’s stock valued at $8,267,000 after purchasing an additional 28,066 shares in the last quarter. Woodline Partners LP bought a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $14,147,000. Finally, Sophron Capital Management L.P. acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $2,347,000. Institutional investors and hedge funds 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.