First Industrial Realty Trust, Inc. (FR) Given Average Rating of “Buy” by Analysts
Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given a consensus rating of “Buy” by the ten research firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.
A number of research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. Jefferies Group reissued a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. Finally, Janney Montgomery Scott started coverage on shares of First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 price objective on the stock.
In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the sale, the director now owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the sale, the director now directly owns 883,820 shares in the company, valued at approximately $28,043,608.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,564 shares of company stock worth $1,601,193. 1.71% of the stock is owned by insiders.
First Industrial Realty Trust (NYSE FR) opened at $32.22 on Friday. First Industrial Realty Trust has a one year low of $25.31 and a one year high of $32.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock has a market cap of $3,871.06, a PE ratio of 20.97 and a beta of 1.02.
First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.25. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.54%. The business had revenue of $99.30 million for the quarter, compared to analyst estimates of $98.38 million. During the same period in the previous year, the business posted $0.37 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. research analysts predict that First Industrial Realty Trust will post 1.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.
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First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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