First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $32.60.
Several equities analysts recently weighed in on FR shares. SunTrust Banks set a $35.00 target price on First Industrial Realty Trust and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Jefferies Financial Group downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. JPMorgan Chase & Co. increased their target price on First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research downgraded First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 8th.
Shares of FR traded down $0.27 during trading hours on Monday, reaching $31.71. 340,073 shares of the company traded hands, compared to its average volume of 712,119. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.05 billion, a P/E ratio of 20.28 and a beta of 0.62. First Industrial Realty Trust has a fifty-two week low of $27.61 and a fifty-two week high of $34.04.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Monday, December 31st will be given a dividend of $0.2175 per share. The ex-dividend date is Friday, December 28th. This represents a $0.87 annualized dividend and a yield of 2.74%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 55.41%.
In other news, Director H Patrick Hackett, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $31.38, for a total value of $470,700.00. Following the transaction, the director now directly owns 37,577 shares in the company, valued at approximately $1,179,166.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $32.52, for a total value of $975,600.00. Following the completion of the transaction, the director now owns 612,564 shares in the company, valued at $19,920,581.28. The disclosure for this sale can be found here. Corporate insiders own 1.71% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FR. Assetmark Inc. purchased a new position in shares of First Industrial Realty Trust in the 2nd quarter worth about $121,000. Qube Research & Technologies Ltd purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at about $164,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at about $201,000. Hartford Investment Management Co. purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at about $204,000. Finally, World Asset Management Inc purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at about $205,000. Institutional investors own 93.24% of the company’s stock.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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