First Industrial Realty Trust (NYSE:FR) Hits New 52-Week High - Time to Buy?

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.62 and last traded at $57.54, with a volume of 71722 shares. The stock had previously closed at $56.64.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 target price for the company. 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 report on Wednesday, February 19th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a "sell" rating to a "neutral" rating and increased 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 report on Tuesday, December 17th. Finally, Barclays lowered their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an "equal weight" rating for the company in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, First Industrial Realty Trust has an average rating of "Moderate Buy" and a consensus price target of $58.31.

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First Industrial Realty Trust Stock Down 0.2 %

The business has a fifty day moving average of $53.51 and a 200 day moving average of $53.87. The company has a market capitalization of $7.61 billion, a PE ratio of 26.38 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating 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 research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS 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. Stockholders of record on Monday, March 31st will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Monday, March 31st. This is a boost from First Industrial Realty Trust's previous quarterly dividend of $0.37. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in FR. Versant Capital Management Inc boosted its stake in shares of First Industrial Realty Trust by 92.5% in the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 481 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust's stock valued at $53,000 after buying an additional 417 shares during the period. UMB Bank n.a. boosted its stake in shares of First Industrial Realty Trust by 24.7% in the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust's stock valued at $54,000 after buying an additional 214 shares during the period. Venturi Wealth Management LLC raised its position in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 747 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of 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 acquiring an additional 292 shares in the last quarter. Hedge funds and other institutional investors 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.