First Industrial Realty Trust, Inc. (NYSE:FR) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $58.31.

Several analysts have commented on the company. KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research note on Tuesday, December 17th. Robert W. Baird increased their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Barclays cut their target price 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 note on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a "hold" rating and a $52.00 price target on the stock. Finally, The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and raised their price target for the stock from $52.00 to $59.00 in a research report on Friday, February 21st.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. lifted its position in shares of First Industrial Realty Trust by 80.2% in the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock worth $214,401,000 after purchasing an additional 1,903,164 shares in the last quarter. Norges Bank acquired a new stake in First Industrial Realty Trust in the 4th quarter valued at $90,489,000. Rush Island Management LP acquired a new position in First Industrial Realty Trust in the third quarter worth $60,848,000. JPMorgan Chase & Co. increased its stake in shares of First Industrial Realty Trust by 28.7% in 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 during the period. Finally, Deutsche Bank AG lifted its position in First Industrial Realty Trust by 56.1% during the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock valued at $94,176,000 after purchasing an additional 675,306 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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First Industrial Realty Trust Price Performance

NYSE:FR traded down $0.04 during midday trading on Tuesday, hitting $57.60. The company had a trading volume of 436,790 shares, compared to its average volume of 1,128,010. The stock's fifty day moving average price is $53.36 and its 200-day moving average price is $53.86. The company has a market capitalization of $7.63 billion, a PE ratio of 26.45 and a beta of 1.09. First Industrial Realty Trust has a 52-week low of $45.10 and a 52-week high of $58.17. 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 (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (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%. As a group, research analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, March 31st. 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 is currently 81.65%.

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.