First Industrial Realty Trust, Inc. (NYSE:FR) Receives $57.92 Average Price Target from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $57.92.

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a "sell" rating in a research report on Friday, July 26th. Mizuho upped their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, September 5th. Scotiabank increased their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a "sector perform" rating in a research report on Monday, August 26th. Truist Financial lifted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FR. Centersquare Investment Management LLC raised its stake in shares of First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust's stock worth $259,143,000 after purchasing an additional 380,805 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in First Industrial Realty Trust in the 2nd quarter worth about $2,824,000. DekaBank Deutsche Girozentrale raised its position in First Industrial Realty Trust by 32.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust's stock worth $4,567,000 after buying an additional 21,767 shares during the last quarter. Tidal Investments LLC lifted its stake in First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust's stock valued at $2,785,000 after acquiring an additional 12,097 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of First Industrial Realty Trust by 163.9% during the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust's stock valued at $24,956,000 after acquiring an additional 295,000 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Up 1.3 %

NYSE:FR traded up $0.70 during mid-day trading on Wednesday, reaching $53.54. 210,079 shares of the company's stock traded hands, compared to its average volume of 1,102,655. First Industrial Realty Trust has a 12-month low of $41.68 and a 12-month high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16. The company has a 50 day moving average price of $55.46 and a 200-day moving average price of $51.34. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 24.35 and a beta of 1.08.

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 (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm had revenue of $167.60 million for the quarter, compared to analysts' expectations of $164.01 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The business's revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts predict that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Monday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.76%. First Industrial Realty Trust's payout ratio is presently 68.20%.

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.