First Industrial Realty Trust, Inc. (NYSE:FR) Receives $63.57 Average PT from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $63.5714.

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. Citigroup boosted their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Finally, Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd.

Institutional Investors Weigh In On First Industrial Realty Trust

Several large investors have recently added to or reduced their stakes in FR. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Industrial Realty Trust by 856,065.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after purchasing an additional 9,784,830 shares in the last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at about $320,075,000. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 8.0% in the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after purchasing an additional 323,248 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in shares of First Industrial Realty Trust by 10.5% in the 4th quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after purchasing an additional 252,650 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of First Industrial Realty Trust by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock valued at $150,644,000 after purchasing an additional 41,042 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Price Performance

FR stock opened at $61.76 on Friday. First Industrial Realty Trust has a 12 month low of $47.36 and a 12 month high of $64.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average price of $60.74 and a 200 day moving average price of $58.68. The stock has a market cap of $8.19 billion, a PE ratio of 23.94 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). First Industrial Realty Trust had a return on equity of 12.36% and a net margin of 45.98%.The firm had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same period in the prior year, the firm posted $0.71 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 7.3% on a year-over-year basis. Equities research analysts anticipate that First Industrial Realty Trust will post 3.15 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 20th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is 77.52%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.