First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• First Industrial Realty Trust has an average analyst rating of "Moderate Buy" from 15 brokerages, with seven holds, seven buys, and one strong buy. The average 1-year price target is about $64.29.
• The stock rose 4.4% to $68.81, near its 12-month high of $68.97. It also carries a market cap of $9.12 billion and a dividend yield of 2.9% based on a quarterly payout of $0.50.
• Institutional investors own 99.85% of the company, and several recently increased or initiated large positions, including Northwestern Mutual Wealth Management Co. and Norges Bank. This suggests strong institutional interest in the REIT.

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $64.2857.

Several equities analysts have weighed in on FR shares. Raymond James Financial reissued a "strong-buy" rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Truist Financial lifted their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Barclays boosted their price objective on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, KeyCorp reiterated a "sector weight" rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of First Industrial Realty Trust by 856,065.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust's stock worth $560,443,000 after acquiring an additional 9,784,830 shares during the period. Norges Bank purchased a new position in shares of First Industrial Realty Trust in the fourth quarter valued at $320,075,000. Cohen & Steers Inc. bought a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at $118,365,000. Rush Island Management LP bought a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at $79,904,000. Finally, AQR Capital Management LLC lifted its holdings in First Industrial Realty Trust by 491.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust's stock worth $89,291,000 after purchasing an additional 1,541,778 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Trading Up 4.4%

Shares of FR stock opened at $68.81 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The firm has a market cap of $9.12 billion, a P/E ratio of 26.67 and a beta of 1.05. The company has a 50 day moving average of $62.76 and a 200-day moving average of $60.91. First Industrial Realty Trust has a 12-month low of $47.38 and a 12-month high of $68.97.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 2.9%. First Industrial Realty Trust's dividend payout ratio (DPR) is 77.52%.

First Industrial Realty Trust Company Profile

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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