First Industrial Realty Trust (NYSE:FR) Reaches New 52-Week High - Should You Buy?

Key Points

• Reached a new 52-week high: FR traded as high as $64.02 and has seen multiple analyst price‑target increases, leaving a consensus rating of "Moderate Buy" with an average target of about $63.29.
• Dividend raised: First Industrial increased its quarterly dividend to $0.50 (annualized $2.00) for a yield of ~3.1%, but the dividend payout ratio is elevated at roughly 107.5%.
• Mixed quarterly results and guidance: The REIT reported $0.59 EPS (missing estimates) and $188.41M revenue (+7.3% YoY), and set FY2026 guidance of $3.09–$3.19 EPS; market cap is about $8.44B with a P/E near 34.2.

First Industrial Realty Trust, Inc. (NYSE:FR - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $64.02 and last traded at $63.8620, with a volume of 175876 shares traded. The stock had previously closed at $62.40.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on FR shares. Citigroup upped their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Truist Financial upped their price target on shares of First Industrial Realty Trust from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. Royal Bank Of Canada upped their price target on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an "outperform" rating in a research note on Monday, February 9th. Scotiabank upped their price target on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Monday, March 2nd. Finally, Weiss Ratings raised shares of First Industrial Realty Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 13th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $63.29.

First Industrial Realty Trust Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of 34.23 and a beta of 1.11. The company's 50-day simple moving average is $60.13 and its 200 day simple moving average is $57.75.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The business had revenue of $188.41 million for the quarter, compared to analyst estimates of $186.20 million. First Industrial Realty Trust had a return on equity of 9.02% and a net margin of 34.03%.The company's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. Equities research analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 3.1%. First Industrial Realty Trust's dividend payout ratio (DPR) is currently 107.53%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds have recently bought and sold shares of FR. Northwestern Mutual Wealth Management Co. boosted its holdings in First Industrial Realty Trust by 856,065.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust's stock valued at $560,443,000 after acquiring an additional 9,784,830 shares during the period. Norges Bank bought a new stake in First Industrial Realty Trust during the fourth quarter valued at about $320,075,000. Cohen & Steers Inc. bought a new stake in First Industrial Realty Trust during the fourth quarter valued at about $118,365,000. Rush Island Management LP bought a new stake in First Industrial Realty Trust during the second quarter valued at about $79,904,000. Finally, AQR Capital Management LLC boosted its holdings in First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust's stock valued at $89,291,000 after acquiring an additional 1,541,778 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

About First Industrial Realty Trust

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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