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

Last updated on Tuesday, May 4, 2021 | 2021 MarketBeat

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned a consensus recommendation of "Buy" from the eight brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.10.

FR has been the topic of several analyst reports. Jefferies Financial Group upgraded shares of First Industrial Realty Trust from a "hold" rating to a "buy" rating and lifted their price target for the stock from $46.00 to $49.00 in a research note on Wednesday, January 13th. Zacks Investment Research cut shares of First Industrial Realty Trust from a "buy" rating to a "hold" rating in a research note on Friday, April 23rd. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and lifted their target price for the company from $44.00 to $46.00 in a research note on Wednesday, March 31st. Finally, Mizuho lifted their target price on shares of First Industrial Realty Trust from $48.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, April 21st.

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 15,000 shares of First Industrial Realty Trust stock in a transaction on Monday, April 26th. The shares were sold at an average price of $49.26, for a total value of $738,900.00. Following the sale, the executive now directly owns 215,979 shares in the company, valued at approximately $10,639,125.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CIO Johannson L. Yap sold 25,000 shares of First Industrial Realty Trust stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $43.34, for a total transaction of $1,083,500.00. Following the completion of the sale, the executive now owns 232,489 shares in the company, valued at $10,076,073.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,800 shares of company stock worth $2,354,192. 1.29% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FR. Credit Suisse AG increased its holdings in shares of First Industrial Realty Trust by 13.3% in the 4th quarter. Credit Suisse AG now owns 241,013 shares of the real estate investment trust's stock worth $10,154,000 after buying an additional 28,278 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter worth about $6,099,000. Heitman Real Estate Securities LLC increased its holdings in shares of First Industrial Realty Trust by 3.9% in the 4th quarter. Heitman Real Estate Securities LLC now owns 1,275,136 shares of the real estate investment trust's stock worth $53,721,000 after buying an additional 48,005 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of First Industrial Realty Trust by 13.1% in the 4th quarter. Cetera Advisor Networks LLC now owns 9,776 shares of the real estate investment trust's stock worth $412,000 after buying an additional 1,130 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of First Industrial Realty Trust by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 5,516,479 shares of the real estate investment trust's stock worth $232,408,000 after buying an additional 488,625 shares during the last quarter. Institutional investors own 96.90% of the company's stock.

Shares of First Industrial Realty Trust stock traded down $0.01 on Tuesday, hitting $49.39. 1,854 shares of the company's stock were exchanged, compared to its average volume of 965,260. The company has a 50-day simple moving average of $47.39 and a 200-day simple moving average of $43.34. The stock has a market capitalization of $6.38 billion, a PE ratio of 30.22 and a beta of 0.84. First Industrial Realty Trust has a 1 year low of $31.65 and a 1 year high of $50.35. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.72 and a current ratio of 1.72.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Tuesday, April 20th. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.46 by $0.02. The business had revenue of $116.50 million for the quarter, compared to analysts' expectations of $112.68 million. First Industrial Realty Trust had a net margin of 46.84% and a return on equity of 11.50%. The company's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS. On average, analysts expect that First Industrial Realty Trust will post 1.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 19th. Shareholders of record on Wednesday, March 31st were issued a $0.27 dividend. This is an increase from First Industrial Realty Trust's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Tuesday, March 30th. First Industrial Realty Trust's payout ratio is currently 62.07%.

About First Industrial Realty Trust

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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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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