First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• First Industrial Realty Trust, Inc. has received a consensus recommendation of "Hold" from thirteen research firms, with eight hold ratings and five buy ratings.
• The average 12-month price target set by analysts for First Industrial Realty Trust is $55.00.
• The company recently announced a quarterly dividend of $0.445, reflecting an annualized dividend yield of 3.4% and a payout ratio of 86.83%.

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $55.00.

FR has been the topic of several analyst reports. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a report on Wednesday, October 1st. They set a "neutral" rating and a $55.00 price target on the stock. Scotiabank increased their price target on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Weiss Ratings restated a "hold (c)" rating on shares of First Industrial Realty Trust in a research note on Wednesday, October 8th. Finally, Industrial Alliance Securities set a $55.00 price objective on shares of First Industrial Realty Trust in a research note on Wednesday, October 1st.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of First Industrial Realty Trust by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock worth $1,044,103,000 after acquiring an additional 158,692 shares during the last quarter. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the second quarter worth $272,085,000. Invesco Ltd. boosted its stake in First Industrial Realty Trust by 2.0% during the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock worth $235,489,000 after buying an additional 87,229 shares in the last quarter. Prudential Financial Inc. boosted its stake in First Industrial Realty Trust by 29.0% during the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust's stock worth $137,215,000 after buying an additional 588,208 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in First Industrial Realty Trust by 7.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust's stock worth $113,908,000 after buying an additional 153,817 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

First Industrial Realty Trust Trading Up 0.9%

Shares of FR stock opened at $51.94 on Wednesday. First Industrial Realty Trust has a 12 month low of $40.31 and a 12 month high of $58.17. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.88. The business's 50 day moving average is $51.03 and its two-hundred day moving average is $49.60. The company has a market cap of $6.88 billion, a PE ratio of 25.34 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.72 by $0.04. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The company had revenue of $180.16 million for the quarter, compared to the consensus estimate of $176.46 million. During the same quarter last year, the company posted $0.66 earnings per share. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. Equities analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th will be paid a $0.445 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.4%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 86.83%.

First Industrial Realty Trust Company Profile

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.

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