Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Target Price at $55.50

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $55.50.

Several brokerages recently issued reports on FR. JPMorgan Chase & Co. upped their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank upped their price target on First Industrial Realty Trust from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 7th. BNP Paribas initiated coverage on First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Finally, Truist Financial lifted their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

Institutional Inflows and Outflows

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

First Industrial Realty Trust Trading Down 0.4 %

Shares of First Industrial Realty Trust stock opened at $54.53 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.92. The firm has a market capitalization of $7.22 billion, a PE ratio of 25.13 and a beta of 1.07. The firm’s 50-day moving average price is $50.83 and its 200 day moving average price is $50.39.

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

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 2.71%. 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.