First Industrial Realty Trust (NYSE:FR) Given New $55.00 Price Target at Barclays

First Industrial Realty Trust (NYSE:FR) had its price objective cut by Barclays from $56.00 to $55.00 in a research report report published on Monday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

FR has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Wells Fargo & Company upped their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Tuesday, August 13th. The Goldman Sachs Group upped their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. Finally, Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Trading Up 0.4 %

Shares of FR stock opened at $52.65 on Monday. The business’s fifty day moving average price is $54.61 and its 200 day moving average price is $51.90. First Industrial Realty Trust has a 1-year low of $44.35 and a 1-year high of $57.35. The firm has a market capitalization of $6.97 billion, a PE ratio of 22.27 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 8.1% on a year-over-year basis. As a group, sell-side analysts forecast that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 2.81%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several large investors have recently added to or reduced their stakes in FR. Rush Island Management LP purchased a new position in First Industrial Realty Trust during the third quarter worth about $60,848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in First Industrial Realty Trust by 290.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock worth $50,105,000 after buying an additional 665,920 shares during the period. Land & Buildings Investment Management LLC lifted its position in First Industrial Realty Trust by 256.4% during the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock worth $38,398,000 after buying an additional 581,472 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in First Industrial Realty Trust during the second quarter worth about $23,755,000. Finally, Bank of Montreal Can lifted its position in First Industrial Realty Trust by 442.8% during the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock worth $26,570,000 after buying an additional 456,124 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.