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

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 stock’s reported $61.13 price.
• Institutional ownership remains very high at 99.85%, while several investors increased their positions during the second quarter; Squarepoint Ops raised its holdings by 161%.
• The company reported quarterly revenue of $194.94 million, up 8.2% year over year, but earnings of $0.58 per share missed the $0.80 consensus estimate. First Industrial also declared a $0.50 quarterly dividend, equivalent to a 3.3% annualized yield.

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $67.43.

A number of research firms have commented on FR. KeyCorp reaffirmed a "sector weight" rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Barclays increased their price objective on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Truist Financial raised their target price on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, July 27th. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $61.00 to $66.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 1st. Finally, Weiss Ratings lowered shares of First Industrial Realty Trust from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in First Industrial Realty Trust by 21.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 9,903 shares of the real estate investment trust's stock worth $607,000 after purchasing an additional 1,719 shares during the last quarter. Tidal Investments LLC grew its holdings in First Industrial Realty Trust by 5.0% in the 2nd quarter. Tidal Investments LLC now owns 11,786 shares of the real estate investment trust's stock valued at $723,000 after buying an additional 562 shares in the last quarter. Squarepoint Ops LLC grew its holdings in First Industrial Realty Trust by 161.0% in the 2nd quarter. Squarepoint Ops LLC now owns 95,916 shares of the real estate investment trust's stock valued at $5,881,000 after buying an additional 59,168 shares in the last quarter. Arizona State Retirement System increased its position in First Industrial Realty Trust by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 36,580 shares of the real estate investment trust's stock worth $2,243,000 after buying an additional 207 shares during the period. Finally, Nykredit A S bought a new position in First Industrial Realty Trust during the 2nd quarter worth $207,000. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $61.13 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The business's 50 day moving average price is $62.99 and its two-hundred day moving average price is $62.32. The company has a market cap of $8.10 billion, a PE ratio of 22.31 and a beta of 1.03. First Industrial Realty Trust has a twelve month low of $50.24 and a twelve month high of $69.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the business earned $0.76 earnings per share. The business'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, analysts predict that First Industrial Realty Trust will post 3.17 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, September 30th. First Industrial Realty Trust's payout ratio is currently 72.99%.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust that owns, operates, acquires, develops, redevelops and manages industrial properties across the United States. Its portfolio is primarily composed of warehouse, distribution and light industrial facilities used by manufacturers, distributors, logistics providers and other businesses.

The company serves customers in major industrial and logistics markets, with properties located in regions including the Midwest, Northeast, Southeast, Southwest and West Coast.

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