First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.38 Average Target Price from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $57.38.

FR has been the subject of several analyst reports. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Finally, Barclays decreased their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th.

First Industrial Realty Trust Price Performance

NYSE FR opened at $56.04 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $57.35. The firm has a market capitalization of $7.42 billion, a P/E ratio of 25.71 and a beta of 1.09. The company has a 50-day moving average price of $51.65 and a 200-day moving average price of $53.52.

First Industrial Realty Trust (NYSE:FR) last posted 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 return on equity of 10.64% and a net margin of 42.94%. Equities research analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be given a $0.445 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 annualized dividend and a yield of 3.18%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 67.89%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently bought and sold shares of the stock. Rush Island Management LP bought a new stake in shares of First Industrial Realty Trust during the third quarter worth $60,848,000. JPMorgan Chase & Co. lifted its holdings in First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in First Industrial Realty Trust by 290.6% during the 3rd 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 valued at $50,105,000 after buying an additional 665,920 shares in the last quarter. Prudential Financial Inc. grew its stake in First Industrial Realty Trust by 194.5% in the 4th quarter. Prudential Financial Inc. now owns 792,593 shares of the real estate investment trust’s stock worth $41,564,000 after acquiring an additional 523,429 shares in the last quarter. Finally, Zimmer Partners LP bought a new position in First Industrial Realty Trust in the 3rd quarter worth about $18,649,000. 99.85% of the stock is currently owned by 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.