First Industrial Realty Trust, Inc. (NYSE:FR) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst consensus is “Moderate Buy” for First Industrial Realty Trust, with seven buy ratings, seven holds and one strong buy. The average 12-month price target is $67.43, above the reported share price of $61.81.
• Institutional investors own 99.85% of the company, with several major funds increasing their positions, including Goldman Sachs, First Trust Advisors and Cerity Partners.
• The REIT reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings per share of $0.58 missed the $0.80 consensus estimate. It declared a quarterly dividend of $0.50 per share, representing a 3.2% annualized yield.

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $67.4286.

A number of research analysts have recently weighed in on FR shares. Scotiabank increased their price target on First Industrial Realty Trust from $63.00 to $66.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 12th. KeyCorp reissued a "sector weight" rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Truist Financial boosted their target price on First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Industrial Realty Trust in a research report on Friday, July 24th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, July 27th.

Institutional Trading of First Industrial Realty Trust

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in First Industrial Realty Trust by 41.1% in the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust's stock valued at $45,301,000 after acquiring an additional 244,562 shares during the period. First Trust Advisors LP raised its position in shares of First Industrial Realty Trust by 141.1% during the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust's stock worth $4,181,000 after purchasing an additional 50,839 shares during the period. Baird Financial Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust's stock valued at $2,685,000 after purchasing an additional 2,356 shares in the last quarter. Cresset Asset Management LLC bought a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at about $275,000. Finally, Cerity Partners LLC grew its position in shares of First Industrial Realty Trust by 463.4% in the 2nd quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust's stock valued at $3,033,000 after purchasing an additional 51,828 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Stock Up 0.2%

Shares of NYSE:FR opened at $61.81 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 22.56 and a beta of 1.03. The company has a 50 day moving average of $64.16 and a 200-day moving average of $62.33. First Industrial Realty Trust has a one year low of $50.24 and a one year high of $69.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, sell-side analysts forecast that First Industrial Realty Trust will post 3.17 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 30th. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 72.99%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

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