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

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $63.9286.

Several research firms have weighed in on FR. KeyCorp reaffirmed a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd.

First Industrial Realty Trust Trading Down 0.0%

FR opened at $61.77 on Monday. First Industrial Realty Trust has a 1-year low of $47.36 and a 1-year high of $64.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market cap of $8.19 billion, a P/E ratio of 23.94 and a beta of 1.06. The company has a fifty day moving average price of $62.07 and a two-hundred day moving average price of $60.10.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FR. Sequoia Financial Advisors LLC grew its holdings in First Industrial Realty Trust by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 163 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in First Industrial Realty Trust by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 179 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in First Industrial Realty Trust by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 183 shares during the last quarter. Assetmark Inc. grew its holdings in First Industrial Realty Trust by 7.1% in the 3rd quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 198 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in First Industrial Realty Trust by 2.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 211 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.