First Industrial Realty Trust, Inc. (NYSE:FR - Get Rating) has been given an average recommendation of "Buy" by the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $53.73.
Separately, StockNews.com assumed coverage on First Industrial Realty Trust in a research note on Thursday, March 31st. They issued a "hold" rating on the stock.
FR stock opened at $53.36 on Friday. First Industrial Realty Trust has a 1-year low of $49.08 and a 1-year high of $66.74. The firm has a market cap of $7.04 billion, a P/E ratio of 28.53 and a beta of 0.93. The business's 50 day moving average is $59.69 and its 200-day moving average is $60.53. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78.
First Industrial Realty Trust (NYSE:FR - Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.01. First Industrial Realty Trust had a return on equity of 11.40% and a net margin of 50.47%. The company had revenue of $125.50 million for the quarter, compared to analyst estimates of $123.45 million. During the same period in the prior year, the company posted $0.46 EPS. The company's revenue was up 7.7% compared to the same quarter last year. Sell-side analysts forecast that First Industrial Realty Trust will post 2.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Investors of record on Thursday, June 30th will be given a dividend of $0.295 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.18 dividend on an annualized basis and a yield of 2.21%. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 63.10%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in First Industrial Realty Trust by 146.5% in the 2nd quarter. Morgan Stanley now owns 358,812 shares of the real estate investment trust's stock valued at $18,740,000 after buying an additional 213,252 shares during the last quarter. Raymond James & Associates acquired a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at $221,000. PNC Financial Services Group Inc. lifted its stake in shares of First Industrial Realty Trust by 10.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,701 shares of the real estate investment trust's stock valued at $714,000 after purchasing an additional 1,345 shares during the period. Meeder Asset Management Inc. raised its stake in First Industrial Realty Trust by 83.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 727 shares of the real estate investment trust's stock worth $38,000 after buying an additional 330 shares during the period. Finally, Barclays PLC raised its stake in First Industrial Realty Trust by 37.4% during the 3rd quarter. Barclays PLC now owns 219,978 shares of the real estate investment trust's stock worth $11,456,000 after buying an additional 59,820 shares during the period. Institutional investors and hedge funds own 96.39% of the company's stock.
First Industrial Realty Trust Company Profile (Get Rating)
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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