First Industrial Realty Trust (NYSE:FR) Given New $60.00 Price Target at Truist Financial

First Industrial Realty Trust (NYSE:FR) had its price target boosted by Truist Financial from $54.00 to $60.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on FR. Scotiabank decreased their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a sector perform rating for the company in a report on Thursday, May 16th. Robert W. Baird dropped their price target on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group upped their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a sell rating in a research report on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, July 30th. Finally, BNP Paribas began coverage on shares of First Industrial Realty Trust in a report on Tuesday, June 4th. They issued an outperform rating and a $57.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $54.27.

First Industrial Realty Trust Stock Up 1.9 %

Shares of First Industrial Realty Trust stock traded up $0.97 during midday trading on Monday, reaching $52.32. 818,804 shares of the company’s stock traded hands, compared to its average volume of 1,053,283. The company has a market cap of $6.92 billion, a price-to-earnings ratio of 24.11 and a beta of 1.07. The company’s 50 day simple moving average is $49.40 and its 200 day simple moving average is $50.30. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. First Industrial Realty Trust has a 52 week low of $40.44 and a 52 week high of $55.92.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same period in the previous year, the business posted $0.61 earnings per share. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that First Industrial Realty Trust will post 2.61 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. increased its holdings in shares of First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in First Industrial Realty Trust by 46.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 200 shares in the last quarter. Mather Group LLC. bought a new stake in First Industrial Realty Trust in the 1st quarter worth about $50,000. EdgeRock Capital LLC bought a new stake in First Industrial Realty Trust in the 4th quarter worth about $56,000. Finally, C M Bidwell & Associates Ltd. boosted its position in First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.