First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Rating of “Hold” from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average recommendation of “Hold” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $53.42.

FR has been the topic of a number of research analyst reports. Mizuho reissued a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Scotiabank reduced their price objective on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. JPMorgan Chase & Co. dropped their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Barclays reiterated an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Finally, Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $59.00 to $49.00 in a report on Thursday, April 25th.

First Industrial Realty Trust Stock Up 0.2 %

FR stock opened at $47.60 on Thursday. The company’s 50 day moving average is $47.10 and its 200 day moving average is $50.46. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 21.93 and a beta of 1.07. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.22.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently made changes to their positions in FR. DekaBank Deutsche Girozentrale lifted its position in First Industrial Realty Trust by 32.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock valued at $4,567,000 after purchasing an additional 21,767 shares during the period. Tidal Investments LLC raised its stake in First Industrial Realty Trust by 29.6% during the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock valued at $2,785,000 after buying an additional 12,097 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of First Industrial Realty Trust during the 1st quarter valued at $220,000. BROOKFIELD Corp ON boosted its stake in shares of First Industrial Realty Trust by 479.8% in the 1st quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock worth $25,544,000 after buying an additional 402,331 shares during the last quarter. Finally, Bamco Inc. NY grew its holdings in shares of First Industrial Realty Trust by 3.2% in the first quarter. Bamco Inc. NY now owns 86,939 shares of the real estate investment trust’s stock worth $4,568,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.