First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus rating of "Hold" by the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $34.63.
A number of research analysts have recently commented on the company. Jefferies Financial Group upped their target price on First Industrial Realty Trust from $40.00 to $41.00 and gave the company a "hold" rating in a research note on Monday, July 27th. Mizuho upped their target price on First Industrial Realty Trust from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. TD Securities cut First Industrial Realty Trust to a "hold" rating and upped their target price for the company from $16.50 to $19.50 in a research note on Friday, July 24th. Robert W. Baird raised First Industrial Realty Trust from a "neutral" rating to an "outperform" rating in a research note on Friday, July 24th. Finally, Raymond James reaffirmed a "hold" rating on shares of First Industrial Realty Trust in a research note on Thursday, August 6th.
A number of institutional investors have recently bought and sold shares of the business. Centersquare Investment Management LLC increased its stake in shares of First Industrial Realty Trust by 856.4% during the first quarter. Centersquare Investment Management LLC now owns 1,548,440 shares of the real estate investment trust's stock worth $51,454,000 after acquiring an additional 1,386,534 shares during the period. Jane Street Group LLC bought a new stake in First Industrial Realty Trust during the 2nd quarter worth approximately $38,185,000. Principal Financial Group Inc. boosted its position in First Industrial Realty Trust by 12.4% during the 1st quarter. Principal Financial Group Inc. now owns 4,630,649 shares of the real estate investment trust's stock worth $153,875,000 after acquiring an additional 509,609 shares during the last quarter. Balyasny Asset Management LLC boosted its position in First Industrial Realty Trust by 109.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 703,523 shares of the real estate investment trust's stock worth $27,043,000 after acquiring an additional 367,924 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in First Industrial Realty Trust by 51.1% during the 2nd quarter. Bank of America Corp DE now owns 912,543 shares of the real estate investment trust's stock worth $35,078,000 after acquiring an additional 308,522 shares during the last quarter. Institutional investors own 96.11% of the company's stock.
Shares of FR stock opened at $40.68 on Monday. The stock has a market capitalization of $5.24 billion, a PE ratio of 20.55 and a beta of 0.82. First Industrial Realty Trust has a 1-year low of $25.89 and a 1-year high of $46.12. The business has a 50-day moving average of $42.38 and a 200 day moving average of $38.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.39 and a quick ratio of 1.39.
First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.16). First Industrial Realty Trust had a net margin of 57.56% and a return on equity of 14.15%. The company had revenue of $109.20 million for the quarter, compared to analysts' expectations of $109.04 million. Analysts anticipate that First Industrial Realty Trust will post 1.8 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Wednesday, September 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. First Industrial Realty Trust's payout ratio is 57.47%.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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