First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Rating of “Hold” by Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average rating of “Hold” from the fourteen research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $58.38.

Several analysts have commented on the stock. KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $59.00 in a research report on Friday, February 21st. Robert W. Baird increased their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock.

First Industrial Realty Trust Price Performance

NYSE FR opened at $54.06 on Friday. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 24.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The stock’s fifty day moving average price is $55.11 and its 200 day moving average price is $53.68. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, equities research analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is presently 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in shares of First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 481 shares in the last quarter. UMB Bank n.a. lifted its holdings in First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 747 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of First Industrial Realty Trust by 30.7% during the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 292 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of First Industrial Realty Trust by 73.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 575 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.