First Industrial Realty Trust (NYSE:FR) Sets New 12-Month High – Still a Buy?

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) hit a new 52-week high during trading on Thursday . The company traded as high as $60.87 and last traded at $60.4370, with a volume of 571356 shares. The stock had previously closed at $60.40.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings raised First Industrial Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their price objective on First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Barclays reiterated a “positive” rating and set a $64.00 target price on shares of First Industrial Realty Trust in a research note on Tuesday, January 13th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, iA Financial set a $67.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, January 5th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.21.

First Industrial Realty Trust Stock Up 0.4%

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.12 and a quick ratio of 1.12. The stock’s fifty day simple moving average is $58.51 and its 200-day simple moving average is $55.07. The stock has a market cap of $8.04 billion, a P/E ratio of 32.61 and a beta of 1.14.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.The company had revenue of $188.41 million for the quarter, compared to analyst estimates of $186.20 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. On average, research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 31st. First Industrial Realty Trust’s dividend payout ratio is presently 95.70%.

Insider Buying and Selling at First Industrial Realty Trust

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of First Industrial Realty Trust stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total transaction of $39,691.60. Following the sale, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. The trade was a 15.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.06% of the company’s stock.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its holdings in First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $492,000 after purchasing an additional 179 shares during the period. AlphaQuest LLC increased its position in shares of First Industrial Realty Trust by 0.5% in the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after buying an additional 193 shares in the last quarter. Global Retirement Partners LLC raised its stake in First Industrial Realty Trust by 3.6% during the 3rd quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock worth $292,000 after buying an additional 195 shares during the period. Assetmark Inc. lifted its holdings in First Industrial Realty Trust by 7.1% during the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 198 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in First Industrial Realty Trust by 2.0% in the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock valued at $554,000 after acquiring an additional 211 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.