First Industrial Realty Trust (NYSE:FR) Reaches New 1-Year High - Time to Buy?

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $57.39 and last traded at $57.22, with a volume of 89283 shares changing hands. The stock had previously closed at $56.82.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FR shares. Robert W. Baird lifted their price objective on shares of 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. Barclays dropped 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 note on Monday, November 18th. The Goldman Sachs Group raised shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Moderate Buy" and an average price target of $58.31.

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First Industrial Realty Trust Trading Down 0.2 %

The company's fifty day moving average price is $52.84 and its 200-day moving average price is $53.76. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 26.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued 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 net margin of 42.94% and a return on equity of 10.64%. On average, research analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a $0.445 dividend. 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 yield of 3.12%. First Industrial Realty Trust's dividend payout ratio (DPR) is 81.65%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Versant Capital Management Inc raised its position in First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after buying an additional 481 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock worth $53,000 after purchasing an additional 417 shares during the last quarter. UMB Bank n.a. lifted its position in First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after purchasing an additional 214 shares during the period. Venturi Wealth Management LLC boosted its holdings in First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 747 shares during the last quarter. Finally, Blue Trust Inc. grew its position in First Industrial Realty Trust by 30.7% during the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock worth $62,000 after purchasing an additional 292 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.