First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $67.0714.

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of First Industrial Realty Trust in a research note on Friday, July 24th. Citigroup raised their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. KeyCorp reaffirmed a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. Robert W. Baird upped their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of First Industrial Realty Trust in the 2nd quarter valued at approximately $1,021,489,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after acquiring an additional 9,784,830 shares in the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $320,075,000. Invesco Ltd. increased its stake in First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after acquiring an additional 323,248 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its stake in First Industrial Realty Trust by 10.5% in the fourth quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after acquiring an additional 252,650 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $62.83 on Tuesday. First Industrial Realty Trust has a twelve month low of $48.42 and a twelve month high of $69.88. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a 50-day simple moving average of $64.24 and a two-hundred day simple moving average of $61.98. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of 22.93 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The business had revenue of $194.94 million for the quarter, compared to analyst estimates of $195.81 million. During the same quarter in the previous year, the company earned $0.76 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. Analysts forecast that First Industrial Realty Trust will post 3.16 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is currently 72.99%.

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.