First Industrial Realty Trust, Inc. (FR) Given Average Recommendation of “Hold” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $32.60.

A number of analysts have recently issued reports on the stock. SunTrust Banks set a $35.00 price objective on shares of First Industrial Realty Trust and gave the company a “buy” rating in a report on Tuesday, August 7th. ValuEngine upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th.

In related news, Director H Patrick Hackett, Jr. sold 15,000 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $31.38, for a total value of $470,700.00. Following the completion of the transaction, the director now directly owns 37,577 shares of the company’s stock, valued at $1,179,166.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.71% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its stake in shares of First Industrial Realty Trust by 69.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,024 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 4,106 shares in the last quarter. LDR Capital Management LLC grew its stake in shares of First Industrial Realty Trust by 62.0% in the third quarter. LDR Capital Management LLC now owns 192,134 shares of the real estate investment trust’s stock valued at $6,033,000 after buying an additional 73,527 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of First Industrial Realty Trust by 378.0% in the second quarter. Russell Investments Group Ltd. now owns 697,517 shares of the real estate investment trust’s stock valued at $23,270,000 after buying an additional 551,590 shares in the last quarter. Meadow Creek Investment Management LLC boosted its position in First Industrial Realty Trust by 17.0% during the second quarter. Meadow Creek Investment Management LLC now owns 20,808 shares of the real estate investment trust’s stock worth $694,000 after purchasing an additional 3,026 shares during the period. Finally, Citadel Advisors LLC boosted its position in First Industrial Realty Trust by 48.2% during the second quarter. Citadel Advisors LLC now owns 2,085,116 shares of the real estate investment trust’s stock worth $69,517,000 after purchasing an additional 678,019 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.

Shares of FR stock opened at $31.75 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.31 and a current ratio of 1.31. First Industrial Realty Trust has a 52 week low of $27.61 and a 52 week high of $34.04. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 20.22 and a beta of 0.62.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. First Industrial Realty Trust had a net margin of 52.47% and a return on equity of 13.40%. The company had revenue of $100.26 million for the quarter, compared to the consensus estimate of $99.74 million. On average, analysts forecast that First Industrial Realty Trust will post 1.59 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 22nd. Investors of record on Monday, December 31st will be paid a $0.2175 dividend. The ex-dividend date is Friday, December 28th. This represents a $0.87 annualized dividend and a dividend yield of 2.74%. First Industrial Realty Trust’s dividend payout ratio is presently 55.41%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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

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