First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $64.2857.

Several research firms have issued reports on FR. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 price target on shares of First Industrial Realty Trust in a research report on Monday, April 27th. KeyCorp reiterated a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Robert W. Baird boosted their target price on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, Barclays upped their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday.

First Industrial Realty Trust Price Performance

FR stock opened at $68.81 on Friday. The firm has a 50 day moving average of $62.76 and a 200-day moving average of $60.91. The firm has a market capitalization of $9.12 billion, a P/E ratio of 26.67 and a beta of 1.05. First Industrial Realty Trust has a 12 month low of $47.38 and a 12 month high of $68.97. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of institutional investors have recently made changes to their positions in FR. Northwestern Mutual Wealth Management Co. raised its position in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after buying an additional 9,784,830 shares in the last quarter. Norges Bank purchased a new position in First Industrial Realty Trust in the fourth quarter worth $320,075,000. Invesco Ltd. increased its stake in First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock valued at $223,571,000 after acquiring an additional 323,248 shares during the last quarter. Centersquare Investment Management LLC raised its position in First Industrial Realty Trust by 10.5% during the fourth quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after purchasing an additional 252,650 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in First Industrial Realty Trust by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,629,908 shares of the real estate investment trust’s stock valued at $150,644,000 after purchasing an additional 41,042 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

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.