First Industrial Realty Trust (NYSE:FR) Price Target Cut to $53.00

First Industrial Realty Trust (NYSE:FR - Free Report) had its target price lowered by JPMorgan Chase & Co. from $59.00 to $53.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust's stock.

A number of other equities research analysts have also recently issued reports on the company. Truist Financial boosted their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a buy rating in a research note on Tuesday, February 20th. Royal Bank of Canada raised their price objective on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an outperform rating in a report on Friday, February 16th. TheStreet upgraded First Industrial Realty Trust from a c+ rating to a b- rating in a research report on Thursday, January 11th. Mizuho reiterated a buy rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Finally, Barclays reissued an equal weight rating and set a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $54.70.

First Industrial Realty Trust Stock Down 0.9 %

FR traded down $0.44 during mid-day trading on Wednesday, reaching $46.03. 1,204,101 shares of the stock were exchanged, compared to its average volume of 1,184,680. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.25. The company has a 50 day moving average price of $52.05 and a two-hundred day moving average price of $49.92. The stock has a market capitalization of $6.09 billion, a PE ratio of 21.18 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from First Industrial Realty Trust's previous quarterly dividend of $0.32. First Industrial Realty Trust's dividend payout ratio is 68.20%.

Institutional Trading of First Industrial Realty Trust

Large investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in shares of First Industrial Realty Trust by 27.7% during the third quarter. SG Americas Securities LLC now owns 20,506 shares of the real estate investment trust's stock valued at $976,000 after purchasing an additional 4,447 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of First Industrial Realty Trust by 6.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 74,187 shares of the real estate investment trust's stock worth $3,531,000 after buying an additional 4,362 shares during the period. Raymond James & Associates increased its stake in shares of First Industrial Realty Trust by 8.0% in the 3rd quarter. Raymond James & Associates now owns 18,098 shares of the real estate investment trust's stock worth $861,000 after acquiring an additional 1,344 shares in the last quarter. Bailard Inc. lifted its position in First Industrial Realty Trust by 34.5% during the 3rd quarter. Bailard Inc. now owns 16,000 shares of the real estate investment trust's stock valued at $761,000 after acquiring an additional 4,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Industrial Realty Trust by 9.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,536 shares of the real estate investment trust's stock worth $3,452,000 after acquiring an additional 6,203 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

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.