First Industrial Realty Trust (NYSE:FR) Price Target Raised to $63.00

First Industrial Realty Trust (NYSE:FR) had its price target lifted by Scotiabank from $62.00 to $63.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently issued reports on FR. Robert W. Baird set a $65.00 target price on First Industrial Realty Trust in a research note on Tuesday, February 17th. UBS Group set a $62.00 price objective on shares of First Industrial Realty Trust in a research report on Thursday, December 4th. Citigroup boosted their target price on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada upped their target price on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, iA Financial set a $67.00 price target on First Industrial Realty Trust in a report on Monday, January 5th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

First Industrial Realty Trust Stock Down 0.4%

Shares of NYSE:FR opened at $62.44 on Monday. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 33.57 and a beta of 1.11. The company has a 50 day moving average of $59.36 and a two-hundred day moving average of $56.05. First Industrial Realty Trust has a 52-week low of $40.31 and a 52-week high of $64.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.93.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17). First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.The business had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. As a group, analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Stockholders of record on Tuesday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Tuesday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. First Industrial Realty Trust’s dividend payout ratio is currently 95.70%.

Insiders Place Their Bets

In related news, CIO Johannson L. Yap sold 680 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the transaction, the executive directly owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FR. Measured Wealth Private Client Group LLC acquired a new stake in shares of First Industrial Realty Trust in the third quarter worth about $26,000. Parallel Advisors LLC raised its stake in shares of First Industrial Realty Trust by 86.9% in the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 291 shares in the last quarter. Mather Group LLC. acquired a new stake in First Industrial Realty Trust in the 3rd quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd boosted its position in First Industrial Realty Trust by 64.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 301 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in First Industrial Realty Trust during the second quarter worth approximately $40,000. 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.