First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.83 Average Price Target from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have received an average rating of "Moderate Buy" from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $57.83.

FR has been the subject of a number of recent analyst reports. Scotiabank lifted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a report on Monday, August 26th. Mizuho upped their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, September 5th. Royal Bank of Canada upped their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 30th. Wolfe Research raised First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective for the company in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FR. Rush Island Management LP bought a new position in First Industrial Realty Trust during the 3rd quarter valued at approximately $60,848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 purchasing an additional 665,920 shares during the last quarter. Land & Buildings Investment Management LLC raised its position in First Industrial Realty Trust by 256.4% during the 2nd quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust's stock valued at $38,398,000 after purchasing an additional 581,472 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of First Industrial Realty Trust during the 2nd quarter worth approximately $23,755,000. Finally, Bank of Montreal Can grew its holdings in shares of First Industrial Realty Trust by 442.8% during the 2nd quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust's stock worth $26,570,000 after acquiring an additional 456,124 shares during the period. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock traded up $1.06 during trading hours on Friday, hitting $53.75. 806,318 shares of the company's stock traded hands, compared to its average volume of 864,660. First Industrial Realty Trust has a 12-month low of $45.02 and a 12-month high of $57.35. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 23.07 and a beta of 1.08. The company has a fifty day simple moving average of $54.30 and a 200-day simple moving average of $52.07. 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 - Get Free Report) 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 the consensus estimate 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 company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. During the same quarter last year, the firm posted $0.62 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts anticipate that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 63.52%.

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.