First Industrial Realty Trust (NYSE:FR) Given New $52.00 Price Target at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR) had its price objective raised by The Goldman Sachs Group from $46.00 to $52.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a sell rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird dropped their price objective on First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Scotiabank cut their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a sector perform rating on the stock in a research report on Thursday, May 16th. BNP Paribas began coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They issued an outperform rating and a $57.00 price objective for the company. Mizuho restated a buy rating and set a $58.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Finally, Wedbush downgraded shares of First Industrial Realty Trust from an outperform rating to a neutral rating and reduced their price target for the company from $59.00 to $49.00 in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $53.55.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $53.71 on Friday. The business’s 50 day moving average price is $48.45 and its 200 day moving average price is $50.30. The firm has a market cap of $7.11 billion, a P/E ratio of 24.77 and a beta of 1.07. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.15. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million for the quarter, compared to analyst estimates of $163.48 million. During the same period in the previous year, the business posted $0.61 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.48 annualized dividend and a yield of 2.76%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. Farmers & Merchants Investments Inc. lifted its holdings in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 200 shares during the period. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust during the 1st quarter worth $50,000. EdgeRock Capital LLC acquired a new position in shares of First Industrial Realty Trust during the 4th quarter worth $56,000. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of First Industrial Realty Trust by 119.5% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.