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.

Several hedge funds and other institutional investors have recently made changes to their positions in FR. IFP Advisors Inc lifted its holdings in shares of First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 190 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 70 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of First Industrial Realty Trust by 77.8% in the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 2,724 shares in the last quarter. World Asset Management Inc purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $212,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $213,000. 92.97% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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