Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $55.30

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given a consensus recommendation of “Hold” by the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $55.30.

FR has been the topic of several recent research reports. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. The Goldman Sachs Group increased their price objective on 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. JPMorgan Chase & Co. increased their price objective on First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Truist Financial increased their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada increased their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th.

Institutional Trading of First Industrial Realty Trust

Large investors have recently bought and sold shares of the business. Farmers & Merchants Investments Inc. boosted its stake in shares of First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 469 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of First Industrial Realty Trust during the second quarter valued at about $28,000. Quarry LP boosted its stake in shares of First Industrial Realty Trust by 1,004.7% during the second quarter. Quarry LP now owns 707 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 643 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of First Industrial Realty Trust during the first quarter valued at about $46,000. Finally, Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust during the first quarter valued at about $50,000. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 1.0 %

Shares of First Industrial Realty Trust stock opened at $45.59 on Friday. The business has a fifty day simple moving average of $52.54 and a two-hundred day simple moving average of $49.88. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 21.01 and a beta of 1.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 3.25%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

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.