First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Recommendation of “Hold” from Brokerages

by · The Cerbat Gem

First Industrial Realty Trust, Inc. (NYSE:FR – Get Free Report) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $56.46.

FR has been the topic of a number of research reports. Mizuho increased their price target on First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a research note on Tuesday, August 13th. The Goldman Sachs Group upped their price target 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. Royal Bank of Canada lifted their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Scotiabank upped their target price on shares of 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.

View Our Latest Stock Report on First Industrial Realty Trust

First Industrial Realty Trust Stock Performance

FR stock opened at $54.19 on Friday. The firm has a market cap of $7.17 billion, a P/E ratio of 24.97 and a beta of 1.08. The stock’s 50 day simple moving average is $55.21 and its 200 day simple moving average is $51.09. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $57.35.

First Industrial Realty Trust (NYSE:FR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The business had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, equities research analysts predict that First Industrial Realty Trust will post 2.62 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Institutional Trading of First Industrial Realty Trust

Institutional investors have recently modified their holdings of the company. Farmers & Merchants Investments Inc. boosted its holdings in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 466 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust during the first quarter worth $50,000. Finally, GAMMA Investing LLC lifted its holdings in shares of First Industrial Realty Trust by 132.7% during the third quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 629 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

About First Industrial Realty Trust

(Get Free Report

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.

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