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. In total, we own and have under development approximately 64.1 million square feet of industrial space as of September 30, 2020.
Analyst Ratings Changes
A number of analysts have recently commented on FR shares. Mizuho cut their price objective on First Industrial Realty Trust from $64.00 to $55.00 and set a "na" rating for the company in a research report on Tuesday, May 17th. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $70.00 to $61.00 and set a "neutral" rating on the stock in a research note on Thursday, June 16th. Jefferies Financial Group lowered their price target on First Industrial Realty Trust from $62.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Truist Financial lowered their price target on First Industrial Realty Trust from $66.00 to $63.00 in a research note on Monday, May 16th. Finally, Robert W. Baird lifted their price target on First Industrial Realty Trust from $69.00 to $75.00 in a research note on Friday, July 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.33.
First Industrial Realty Trust Stock Performance
NYSE:FR opened at $55.28 on Friday. The stock's fifty day moving average is $49.50 and its two-hundred day moving average is $55.20. The firm has a market capitalization of $7.30 billion, a P/E ratio of 23.52 and a beta of 0.96. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.99 and a current ratio of 0.99. First Industrial Realty Trust has a fifty-two week low of $45.79 and a fifty-two week high of $66.74.
First Industrial Realty Trust (NYSE:FR - Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.35. The company had revenue of $130.00 million for the quarter, compared to analyst estimates of $127.55 million. First Industrial Realty Trust had a return on equity of 13.84% and a net margin of 62.25%. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, research analysts anticipate that First Industrial Realty Trust will post 2.19 earnings per share for the current year.
First Industrial Realty Trust Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 29th. First Industrial Realty Trust's dividend payout ratio (DPR) is presently 50.21%.