FY2024 EPS Estimates for First Industrial Realty Trust, Inc. Decreased by Analyst (NYSE:FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Wedbush decreased their FY2024 EPS estimates for shares of First Industrial Realty Trust in a report issued on Thursday, April 25th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $2.58 per share for the year, down from their prior estimate of $2.63. Wedbush currently has a “Neutral” rating and a $49.00 target price on the stock. The consensus estimate for First Industrial Realty Trust’s current full-year earnings is $2.61 per share. Wedbush also issued estimates for First Industrial Realty Trust’s FY2025 earnings at $2.84 EPS.

A number of other research firms have also recently commented on FR. Royal Bank of Canada raised their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. The Goldman Sachs Group raised their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Mizuho reiterated a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Finally, Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.11.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $46.00 on Friday. The company has a 50-day simple moving average of $51.55 and a two-hundred day simple moving average of $49.86. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market capitalization of $6.09 billion, a PE ratio of 21.20 and a beta of 1.01. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.22.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in FR. Norges Bank bought a new stake in shares of First Industrial Realty Trust in the fourth quarter worth approximately $78,559,000. Frontier Capital Management Co. LLC boosted its holdings in First Industrial Realty Trust by 788.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after purchasing an additional 1,105,286 shares during the last quarter. Centersquare Investment Management LLC grew its position in First Industrial Realty Trust by 23.6% in the 4th quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after purchasing an additional 869,676 shares during the period. Lasalle Investment Management Securities LLC raised its stake in First Industrial Realty Trust by 49.7% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 1,633,051 shares of the real estate investment trust’s stock valued at $86,013,000 after buying an additional 541,909 shares during the last quarter. Finally, Crestline Management LP bought a new position in shares of First Industrial Realty Trust during the 4th quarter valued at $26,335,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.37 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.