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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $55.30.

FR has been the topic of a number of analyst reports. Mizuho restated a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Truist Financial raised their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. lifted their target price on First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada lifted their target price on 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.

First Industrial Realty Trust Trading Down 3.7 %

NYSE:FR opened at $48.60 on Friday. The firm has a market cap of $6.43 billion, a PE ratio of 23.48 and a beta of 1.01. The stock has a fifty day moving average price of $52.73 and a 200 day moving average price of $49.91. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $55.22. 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.05%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio is currently 71.50%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in First Industrial Realty Trust during the 2nd quarter valued at $28,000. Quarry LP grew its holdings in First Industrial Realty Trust by 1,004.7% during the 2nd quarter. Quarry LP now owns 707 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 643 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in First Industrial Realty Trust during the 1st quarter valued at $46,000. Mather Group LLC. acquired a new stake in First Industrial Realty Trust during the 1st quarter valued at $50,000. Finally, EdgeRock Capital LLC acquired a new stake in First Industrial Realty Trust during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.