First Industrial Realty Trust (FR) Scheduled to Post Quarterly Earnings on Wednesday

First Industrial Realty Trust (NYSE:FR) is set to issue its quarterly earnings data after the market closes on Wednesday, April 17th. Analysts expect the company to announce earnings of $0.62 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

First Industrial Realty Trust Stock Performance

FR opened at $50.57 on Tuesday. The business’s 50 day moving average is $52.75 and its 200-day moving average is $49.89. The stock has a market cap of $6.69 billion, a PE ratio of 24.43 and a beta of 1.01. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.84. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.22.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.37 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 2.93%. First Industrial Realty Trust’s payout ratio is presently 71.50%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FR. TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research report on Thursday, January 11th. Mizuho restated a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada lifted their price objective on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus target price of $55.30.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently modified their holdings of the stock. Neo Ivy Capital Management acquired a new position in First Industrial Realty Trust in the second quarter valued at approximately $28,000. Quarry LP raised its holdings in First Industrial Realty Trust by 1,004.7% in the second quarter. Quarry LP now owns 707 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 643 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in First Industrial Realty Trust in the first quarter worth $46,000. Lazard Asset Management LLC raised its holdings in First Industrial Realty Trust by 99.1% in the first quarter. Lazard Asset Management LLC now owns 1,396 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 695 shares during the period. Finally, KBC Group NV acquired a new stake in First Industrial Realty Trust in the fourth quarter worth $111,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.