Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $57.83

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have been assigned an average recommendation of "Hold" from the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $57.83.

Several analysts recently weighed in on FR shares. Wells Fargo & Company increased their price target 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. Scotiabank lifted their price target on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research note 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 company an "outperform" rating in a report on Thursday, September 5th. Barclays dropped their target price on 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, KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a report on Tuesday.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rush Island Management LP acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth $60,848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 last quarter. Land & Buildings Investment Management LLC grew its holdings in First Industrial Realty Trust by 256.4% in 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 buying an additional 581,472 shares in 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 $23,755,000. Finally, Bank of Montreal Can boosted its position 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 valued at $26,570,000 after acquiring an additional 456,124 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock traded down $0.46 during midday trading on Thursday, reaching $49.60. 2,008,636 shares of the stock traded hands, compared to its average volume of 1,073,263. The stock has a market cap of $6.56 billion, a P/E ratio of 21.29 and a beta of 1.07. The stock's fifty day moving average is $53.29 and its 200-day moving average is $52.75. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 12 month low of $45.10 and a 12 month high of $57.35.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. As a group, equities research analysts anticipate that First Industrial Realty Trust will post 2.63 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.98%. First Industrial Realty Trust's payout ratio is 63.52%.

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.