First Industrial Realty Trust (NYSE:FR) Price Target Raised to $69.00

First Industrial Realty Trust (NYSE:FR) had its target price upped by Barclays from $64.00 to $69.00 in a research report released on Thursday morning, Marketbeat reports. Barclays currently has an equal weight rating on the real estate investment trust’s stock.

FR has been the topic of a number of other reports. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Raymond James Financial restated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Weiss Ratings raised shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Wells Fargo & Company reduced their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Finally, Cantor Fitzgerald reiterated 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average price target of $64.29.

First Industrial Realty Trust Stock Performance

FR opened at $68.82 on Thursday. 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 $47.38 and a 52-week high of $69.88. The firm has a market cap of $9.12 billion, a P/E ratio of 26.67 and a beta of 1.05. The business’s fifty day moving average is $62.88 and its 200-day moving average is $60.96.

First Industrial Realty Trust Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. M&T Bank Corp bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at about $1,134,000. Hudson Bay Capital Management LP acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $20,172,000. SG Americas Securities LLC raised its position in shares of First Industrial Realty Trust by 121.2% during the fourth quarter. SG Americas Securities LLC now owns 183,530 shares of the real estate investment trust’s stock worth $10,511,000 after acquiring an additional 100,551 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of First Industrial Realty Trust by 7.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust’s stock worth $11,997,000 after acquiring an additional 14,693 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of First Industrial Realty Trust by 8.8% in the third quarter. JPMorgan Chase & Co. now owns 1,586,367 shares of the real estate investment trust’s stock worth $81,650,000 after acquiring an additional 127,915 shares during the period. 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.