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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $63.6429.

FR has been the topic of a number of analyst reports. Robert W. Baird upped their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citigroup upped their price objective 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. Truist Financial raised their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Royal Bank Of Canada lifted their price target on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Finally, Scotiabank lifted their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC increased its stake in First Industrial Realty Trust by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 163 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in 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 purchasing an additional 179 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its stake in First Industrial Realty Trust by 4.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock valued at $258,000 after purchasing an additional 183 shares in the last quarter. AlphaQuest LLC increased its stake in First Industrial Realty Trust by 0.5% in the third quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after purchasing an additional 193 shares in the last quarter. Finally, Assetmark Inc. increased its stake in 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 purchasing an additional 198 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Trading Down 1.5%

NYSE:FR opened at $63.10 on Thursday. The firm’s fifty day moving average is $60.96 and its 200-day moving average is $59.45. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust has a 52 week low of $47.36 and a 52 week high of $64.66. The firm has a market cap of $8.36 billion, a P/E ratio of 24.46 and a beta of 1.07.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is 77.52%.

First Industrial Realty Trust Company Profile

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.