First Industrial Realty Trust, Inc. (NYSE:FR) Receives $58.31 Consensus Price Target from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $58.31.

Several brokerages recently weighed in on FR. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. Robert W. Baird boosted their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and boosted their target price for the company from $52.00 to $59.00 in a research note on Friday, February 21st. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Barclays dropped their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $55.82 on Tuesday. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $58.17. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $53.62 and its 200 day simple moving average is $53.87. The firm has a market capitalization of $7.39 billion, a PE ratio of 25.61 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, equities research analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. The ex-dividend date is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is presently 81.65%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently modified their holdings of FR. Invesco Ltd. grew its holdings in shares of First Industrial Realty Trust by 80.2% during the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after purchasing an additional 1,903,164 shares during the period. Norges Bank purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter worth about $90,489,000. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the 3rd quarter worth approximately $60,848,000. JPMorgan Chase & Co. boosted its holdings in First Industrial Realty Trust by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after acquiring an additional 747,101 shares during the period. Finally, Deutsche Bank AG boosted its holdings in First Industrial Realty Trust by 56.1% in the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock worth $94,176,000 after acquiring an additional 675,306 shares during the period. Hedge funds and other 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 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.