First Industrial Realty Trust (NYSE:FR) Price Target Raised to $56.00

First Industrial Realty Trust (NYSE:FR) had its price objective upped by Barclays from $55.00 to $56.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

A number of other brokerages 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. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price for the company. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price target for the company from $52.00 to $59.00 in a research note on Friday, February 21st. Finally, Robert W. Baird raised their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.38.

First Industrial Realty Trust Trading Down 0.2 %

FR stock opened at $54.28 on Tuesday. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $58.17. The business’s 50-day moving average is $54.94 and its 200 day moving average is $53.76. 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 stock has a market cap of $7.19 billion, a price-to-earnings ratio of 24.90 and a beta of 1.07.

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

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.28%. First Industrial Realty Trust’s dividend payout ratio is 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its stake in First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 481 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of First Industrial Realty Trust by 24.7% in 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 acquiring an additional 214 shares during the last quarter. Venturi Wealth Management LLC raised its position 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 worth $56,000 after acquiring an additional 747 shares in the last quarter. Blue Trust Inc. lifted its stake in First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 292 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 575 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.