First Industrial Realty Trust (NYSE:FR) Sets New 12-Month Low Following Analyst Downgrade

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report)'s stock price hit a new 52-week low on Monday after Scotiabank lowered their price target on the stock from $58.00 to $50.00. Scotiabank currently has a sector perform rating on the stock. First Industrial Realty Trust traded as low as $44.01 and last traded at $44.46, with a volume of 73426 shares trading hands. The stock had previously closed at $47.68.

Other equities analysts have also issued research reports about the stock. Barclays restated a "cautious" rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $52.00 to $59.00 in a report on Friday, February 21st. 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 price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $57.77.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Lake Street Private Wealth LLC boosted its stake in shares of First Industrial Realty Trust by 5.2% in the first quarter. Lake Street Private Wealth LLC now owns 6,744 shares of the real estate investment trust's stock worth $364,000 after acquiring an additional 335 shares during the period. Rhumbline Advisers boosted its stake in shares of First Industrial Realty Trust by 0.4% during the 1st quarter. Rhumbline Advisers now owns 407,607 shares of the real estate investment trust's stock worth $21,994,000 after purchasing an additional 1,693 shares during the period. Parallel Advisors LLC raised its holdings in shares of First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock worth $60,000 after buying an additional 821 shares during the period. GAMMA Investing LLC lifted its position in shares of First Industrial Realty Trust by 8,283.3% during the first quarter. GAMMA Investing LLC now owns 90,707 shares of the real estate investment trust's stock worth $4,895,000 after purchasing an additional 89,625 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in First Industrial Realty Trust by 571.2% in the 1st quarter. Versant Capital Management Inc now owns 6,719 shares of the real estate investment trust's stock valued at $363,000 after buying an additional 5,718 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

The firm has a fifty day simple moving average of $53.74 and a 200 day simple moving average of $53.05. The company has a market capitalization of $6.04 billion, a PE ratio of 20.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share 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 analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a dividend of $0.445 per share. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.90%. First Industrial Realty Trust's dividend payout ratio (DPR) is 81.65%.

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.