Brokerages 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 been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on 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.

FR has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Scotiabank upped their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Barclays dropped their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 30th. Finally, Royal Bank of Canada decreased their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its holdings in shares of First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 225 shares during the period. Alpine Bank Wealth Management purchased a new position in First Industrial Realty Trust during the 1st quarter worth $26,000. Venturi Wealth Management LLC increased its stake in First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 747 shares during the period. Parallel Advisors LLC increased its stake in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 821 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

First Industrial Realty Trust Stock Down 0.6%

NYSE FR traded down $0.28 during trading hours on Thursday, hitting $49.40. 1,274,126 shares of the company were exchanged, compared to its average volume of 1,158,681. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 22.66 and a beta of 1.09. The company has a 50 day moving average of $48.43 and a two-hundred day moving average of $51.43. First Industrial Realty Trust has a 52-week low of $40.31 and a 52-week high of $58.17.

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

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a yield of 3.60%. First Industrial Realty Trust's dividend payout ratio is presently 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.