Royal Bank of Canada Lowers First Industrial Realty Trust (NYSE:FR) Price Target to $58.00

First Industrial Realty Trust (NYSE:FR - Free Report) had its price objective cut by Royal Bank of Canada from $62.00 to $58.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust's stock.

Several other equities research analysts have also recently issued reports on the company. Scotiabank cut their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a "hold" rating and a $52.00 price objective for the company. The Goldman Sachs Group decreased their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird lifted their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, Barclays reissued a "cautious" rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.08.

First Industrial Realty Trust Trading Up 1.3 %

First Industrial Realty Trust stock traded up $0.64 during trading on Tuesday, reaching $48.74. 134,854 shares of the company were exchanged, compared to its average volume of 1,119,641. The stock's 50 day simple moving average is $51.41 and its two-hundred day simple moving average is $52.32. The company has a market capitalization of $6.45 billion, a P/E ratio of 22.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust has a 52-week low of $40.31 and a 52-week high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, equities research analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 21st. Shareholders of record on Monday, June 30th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.78 annualized dividend and a dividend yield of 3.65%. First Industrial Realty Trust's dividend payout ratio (DPR) is 88.12%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of First Industrial Realty Trust by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust's stock worth $962,039,000 after buying an additional 304,589 shares in the last quarter. Invesco Ltd. increased its holdings in First Industrial Realty Trust by 80.2% in the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after buying an additional 1,903,164 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock worth $187,798,000 after buying an additional 747,101 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust's stock valued at $124,492,000 after acquiring an additional 14,298 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in First Industrial Realty Trust by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust's stock worth $121,922,000 after purchasing an additional 130,819 shares during the last quarter. 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 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.