Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Target Price at $57.38

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have received an average recommendation of "Hold" from the fourteen research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $57.38.

A number of analysts have weighed in on FR shares. KeyCorp raised shares of First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday, December 17th. Barclays reduced their price target 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 report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective on the stock.

First Industrial Realty Trust Stock Up 0.2 %

NYSE:FR traded up $0.13 during trading hours on Friday, hitting $55.03. The company's stock had a trading volume of 1,751,208 shares, compared to its average volume of 1,153,677. First Industrial Realty Trust has a 52-week low of $45.10 and a 52-week high of $57.35. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.28 billion, a P/E ratio of 25.24 and a beta of 1.09. The stock has a fifty day moving average of $51.61 and a 200-day moving average of $53.50.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating analysts' consensus estimates 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%. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.23%. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 67.89%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position 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 worth $187,798,000 after purchasing an additional 747,101 shares during the period. Geode Capital Management LLC boosted its position in shares of First Industrial Realty Trust by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust's stock worth $138,214,000 after purchasing an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock worth $110,581,000 after purchasing an additional 23,280 shares during the period. Rush Island Management LP purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at about $60,848,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of First Industrial Realty Trust by 290.6% in 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 valued at $50,105,000 after purchasing an additional 665,920 shares during the period. Institutional investors and hedge funds 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.