Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $55.91

Shares of First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) have received an average rating of "Moderate Buy" from the twelve research firms that are covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $55.91.

Several analysts have recently issued reports on the company. Barclays decreased their price target on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 30th. Robert W. Baird dropped their price target on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an "outperform" rating for the company in a research report on Tuesday, May 6th. Royal Bank of Canada dropped their target price on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their target price on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Wells Fargo & Company cut their target price on shares of First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FR. Nicola Wealth Management LTD. bought a new stake in shares of First Industrial Realty Trust during the 1st quarter valued at about $843,000. Invst LLC bought a new stake in First Industrial Realty Trust during the 1st quarter valued at $687,000. Strs Ohio bought a new stake in shares of First Industrial Realty Trust in the first quarter worth about $6,572,000. Focus Partners Wealth raised its holdings in shares of First Industrial Realty Trust by 1.0% during the first quarter. Focus Partners Wealth now owns 89,162 shares of the real estate investment trust's stock valued at $4,811,000 after acquiring an additional 897 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of First Industrial Realty Trust by 2,549.4% during the 1st quarter. Jane Street Group LLC now owns 296,995 shares of the real estate investment trust's stock valued at $16,026,000 after purchasing an additional 285,785 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR traded up $0.01 during midday trading on Thursday, hitting $49.62. The company's stock had a trading volume of 921,867 shares, compared to its average volume of 1,157,576. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The firm has a market cap of $6.57 billion, a P/E ratio of 22.76 and a beta of 1.09. First Industrial Realty Trust has a 1-year low of $40.31 and a 1-year high of $58.17. The firm's fifty day moving average price is $48.30 and its 200-day moving average price is $51.48.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The business had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. On average, sell-side analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.59%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 88.12%.

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.