First Industrial Realty Trust (NYSE:FR) Trading Down 4%

First Industrial Realty Trust, Inc. (NYSE:FR)’s share price fell 4% on Thursday . The company traded as low as $46.59 and last traded at $46.66. 550,270 shares were traded during trading, a decline of 52% from the average session volume of 1,150,818 shares. The stock had previously closed at $48.60.

Analysts Set New Price Targets

A number of research firms have weighed in on FR. Royal Bank of Canada boosted their target price 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. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Barclays reaffirmed an “equal weight” rating and set a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.30.

First Industrial Realty Trust Price Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. The stock has a market capitalization of $6.03 billion, a P/E ratio of 21.01 and a beta of 1.01. The company’s 50 day simple moving average is $52.36 and its two-hundred day simple moving average is $49.87.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.25%. 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. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

Several large investors have recently added to or reduced their stakes in FR. Nomura Holdings Inc. grew its stake in shares of First Industrial Realty Trust by 192.7% during the first quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock valued at $164,296,000 after purchasing an additional 2,033,000 shares during the last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $78,559,000. JPMorgan Chase & Co. grew its stake in shares of First Industrial Realty Trust by 92.2% during the first quarter. JPMorgan Chase & Co. now owns 2,799,425 shares of the real estate investment trust’s stock valued at $148,929,000 after purchasing an additional 1,342,783 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of First Industrial Realty Trust by 469.3% during the second quarter. Alliancebernstein L.P. now owns 1,576,944 shares of the real estate investment trust’s stock valued at $83,010,000 after purchasing an additional 1,299,944 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its holdings in First Industrial Realty Trust by 788.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after buying an additional 1,105,286 shares during the period. 99.85% of the stock is owned by institutional investors.

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.