First Industrial Realty Trust (NYSE:FR) PT Lowered to $56.00

First Industrial Realty Trust (NYSE:FR) had its price objective cut by Robert W. Baird from $62.00 to $56.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on FR. JPMorgan Chase & Co. decreased their target price on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Barclays restated an equal weight rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a buy rating in a report on Tuesday, February 20th. TheStreet raised shares of First Industrial Realty Trust from a c+ rating to a b- rating in a report on Thursday, January 11th. Finally, The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a sell rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust has an average rating of Hold and a consensus target price of $53.40.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $46.02 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $51.02 and a 200-day moving average price of $49.89. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.22. The firm has a market capitalization of $6.09 billion, a PE ratio of 21.21 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centersquare Investment Management LLC grew its position in shares of First Industrial Realty Trust by 23.6% during the fourth quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock valued at $239,728,000 after purchasing an additional 869,676 shares in the last quarter. Nomura Holdings Inc. increased its stake in First Industrial Realty Trust by 14.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock worth $163,856,000 after acquiring an additional 402,744 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of First Industrial Realty Trust by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock valued at $143,943,000 after acquiring an additional 158,722 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of First Industrial Realty Trust by 22.0% in the third quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock valued at $106,847,000 after purchasing an additional 403,887 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of First Industrial Realty Trust by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,042,028 shares of the real estate investment trust’s stock valued at $107,554,000 after purchasing an additional 60,658 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.