First Industrial Realty Trust (NYSE:FR) Reaches New 12-Month High – Still a Buy?

First Industrial Realty Trust, Inc. (NYSE:FR) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $62.43 and last traded at $62.2470, with a volume of 1143272 shares changing hands. The stock had previously closed at $62.00.

Analyst Upgrades and Downgrades

FR has been the topic of a number of recent research reports. Robert W. Baird set a $65.00 target price on First Industrial Realty Trust in a report on Tuesday, February 17th. Mizuho boosted their price objective on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. UBS Group set a $62.00 target price on shares of First Industrial Realty Trust in a research note on Thursday, December 4th. Scotiabank lifted their target price on shares of First Industrial Realty Trust from $57.00 to $62.00 and gave the company a “sector perform” rating in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Monday, January 5th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.21.

First Industrial Realty Trust Trading Up 1.5%

The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 34.11 and a beta of 1.14. The business has a fifty day moving average of $58.95 and a two-hundred day moving average of $55.60. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.12.

First Industrial Realty Trust (NYSE:FR) last posted its 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 9.02% and a net margin of 34.03%.The firm had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. As a group, equities analysts expect that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s payout ratio is 95.70%.

Insider Transactions at First Industrial Realty Trust

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the sale, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after buying an additional 9,784,830 shares in the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust during the second quarter valued at $272,085,000. Invesco Ltd. increased its position in First Industrial Realty Trust by 8.0% during the 3rd quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after purchasing an additional 323,248 shares in the last quarter. Centersquare Investment Management LLC raised its stake in 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 during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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. Hedge funds and other institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.