First Industrial Realty Trust, Inc. (FR) Receives Average Rating of “Hold” from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $32.00.

FR has been the topic of a number of recent research reports. Jefferies Group upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. ValuEngine lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. SunTrust Banks reiterated a “buy” rating and set a $32.00 target price on shares of First Industrial Realty Trust in a research note on Friday, October 27th. Finally, JPMorgan Chase & Co. lowered First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 target price on the stock. in a research note on Friday, December 15th.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total transaction of $546,406.68. Following the transaction, the director now owns 866,966 shares in the company, valued at approximately $28,107,037.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total value of $534,809.15. Following the transaction, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The disclosure for this sale can be found here. 1.71% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in First Industrial Realty Trust by 2.9% during the 2nd quarter. State Street Corp now owns 5,558,921 shares of the real estate investment trust’s stock worth $159,093,000 after acquiring an additional 154,676 shares during the period. Principal Financial Group Inc. increased its stake in First Industrial Realty Trust by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock worth $133,874,000 after acquiring an additional 150,162 shares during the period. Bank of New York Mellon Corp increased its stake in First Industrial Realty Trust by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,244,687 shares of the real estate investment trust’s stock worth $97,632,000 after acquiring an additional 83,863 shares during the period. Ameriprise Financial Inc. increased its stake in First Industrial Realty Trust by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,342,014 shares of the real estate investment trust’s stock worth $70,473,000 after acquiring an additional 114,605 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in First Industrial Realty Trust by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,740,731 shares of the real estate investment trust’s stock worth $52,379,000 after acquiring an additional 71,899 shares during the period. Hedge funds and other institutional investors own 93.18% of the company’s stock.

First Industrial Realty Trust (NYSE:FR) opened at $30.32 on Friday. The firm has a market capitalization of $3,698.48 and a P/E ratio of 28.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a 52 week low of $25.56 and a 52 week high of $32.91.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.77%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

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About First Industrial Realty Trust

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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