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 been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are presently covering the stock, 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 12-month price objective among brokers that have issued ratings on the stock in the last year is $55.91.

Several equities analysts have commented on the company. The Goldman Sachs Group lowered their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Scotiabank raised their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Wells Fargo & Company lowered their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Royal Bank Of Canada lowered their price objective on 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.

Institutional Investors Weigh In On First Industrial Realty Trust

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of First Industrial Realty Trust by 73.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 575 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of First Industrial Realty Trust by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,205,880 shares of the real estate investment trust's stock valued at $110,581,000 after buying an additional 23,280 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of First Industrial Realty Trust by 6.2% during the 4th quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock valued at $35,026,000 after buying an additional 40,734 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of First Industrial Realty Trust during the 4th quarter valued at about $1,463,000. Finally, Arizona State Retirement System lifted its position in shares of First Industrial Realty Trust by 0.8% during the 4th quarter. Arizona State Retirement System now owns 38,409 shares of the real estate investment trust's stock valued at $1,925,000 after buying an additional 302 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Trading Up 1.6%

FR stock traded up $0.78 on Monday, reaching $49.04. The company's stock had a trading volume of 1,269,989 shares, compared to its average volume of 1,207,376. The business has a fifty day simple moving average of $49.33 and a two-hundred day simple moving average of $51.04. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $58.17. The firm has a market cap of $6.49 billion, a PE ratio of 24.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its quarterly earnings results 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). First Industrial Realty Trust had a return on equity of 9.82% and a net margin of 39.04%. The business had revenue of $177.07 million during the quarter, compared to analysts' expectations of $176.98 million. As a group, research analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid 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 dividend yield of 3.63%. First Industrial Realty Trust's dividend payout ratio is currently 88.12%.

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.