First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Rating of “Moderate Buy” from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $62.4615.

A number of brokerages have weighed in on FR. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group set a $62.00 price objective on shares of First Industrial Realty Trust in a report on Thursday, December 4th. Royal Bank Of Canada upped their target price on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their price target on First Industrial Realty Trust from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Barclays reaffirmed a “positive” rating and set a $64.00 price objective on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th.

First Industrial Realty Trust Trading Down 2.2%

NYSE:FR opened at $57.22 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50-day simple moving average is $57.77 and its 200-day simple moving average is $53.81. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $60.20. The stock has a market capitalization of $7.58 billion, a PE ratio of 31.96 and a beta of 1.14.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Wednesday, December 31st were issued a $0.445 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 99.44%.

Insider Buying and Selling

In related news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.06% of the company’s stock.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds have recently modified their holdings of the stock. Crossmark Global Holdings Inc. increased its position in shares of First Industrial Realty Trust by 1.9% in the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 179 shares during the last quarter. AlphaQuest LLC raised its stake in shares of First Industrial Realty Trust by 0.5% during the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock worth $2,132,000 after purchasing an additional 193 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of First Industrial Realty Trust by 3.6% in the 3rd quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 195 shares during the last quarter. Assetmark Inc. grew its stake in shares of First Industrial Realty Trust by 7.1% in the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 198 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in First Industrial Realty Trust by 15.9% during the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 206 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.