First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Recommendation of “Hold” by Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $55.30.

FR has been the topic of several research analyst reports. Truist Financial increased their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Mizuho restated a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nomura Holdings Inc. grew its stake in First Industrial Realty Trust by 192.7% during the first quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock worth $164,296,000 after purchasing an additional 2,033,000 shares during the period. Norges Bank bought a new position in shares of First Industrial Realty Trust in the fourth quarter valued at approximately $78,559,000. JPMorgan Chase & Co. boosted its position in shares of First Industrial Realty Trust by 92.2% in the first quarter. JPMorgan Chase & Co. now owns 2,799,425 shares of the real estate investment trust’s stock valued at $148,929,000 after acquiring an additional 1,342,783 shares during the period. Alliancebernstein L.P. grew its stake in First Industrial Realty Trust by 469.3% during the second quarter. Alliancebernstein L.P. now owns 1,576,944 shares of the real estate investment trust’s stock valued at $83,010,000 after acquiring an additional 1,299,944 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in First Industrial Realty Trust by 788.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock worth $65,598,000 after acquiring an additional 1,105,286 shares during the period. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Trading Down 1.1 %

Shares of First Industrial Realty Trust stock opened at $51.22 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $52.76 and a two-hundred day simple moving average of $49.85. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 24.74 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. First Industrial Realty Trust’s payout ratio is presently 71.50%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.