First Industrial Realty Trust (NYSE:FR) Reaches New 12-Month High – Here’s Why

First Industrial Realty Trust, Inc. (NYSE:FR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $57.39 and last traded at $57.22, with a volume of 89283 shares. The stock had previously closed at $56.82.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FR. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the company from $52.00 to $59.00 in a research report on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Barclays reduced their price objective on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Robert W. Baird increased their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.31.

First Industrial Realty Trust Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 26.11 and a beta of 1.09. The company’s 50 day moving average is $52.57 and its 200 day moving average is $53.72.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is currently 81.65%.

Institutional Trading of First Industrial Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its stake in shares of First Industrial Realty Trust by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 210 shares during the period. UMB Bank n.a. lifted its stake in shares of First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares during the period. Stifel Financial Corp grew its holdings in First Industrial Realty Trust by 0.9% during the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 222 shares during the period. Principal Securities Inc. boosted its holdings in First Industrial Realty Trust by 9.3% during the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 269 shares during the last quarter. Finally, Fortem Financial Group LLC increased its stake in First Industrial Realty Trust by 2.9% in the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds 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.