First Industrial Realty Trust (NYSE:FR) Lifted to Outperform at Wolfe Research

Wolfe Research upgraded shares of First Industrial Realty Trust (NYSE:FR) from a peer perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $64.00 target price on the real estate investment trust’s stock.

Several other research analysts have also issued reports on FR. Robert W. Baird dropped their target price on First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Scotiabank boosted their price objective on First Industrial Realty Trust from $50.00 to $55.00 and gave the company a sector perform rating in a report on Wednesday, August 7th. Wedbush lowered First Industrial Realty Trust from an outperform rating to a neutral rating and reduced their target price for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. The Goldman Sachs Group lifted their target price on 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. Finally, JPMorgan Chase & Co. upped their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $55.50.

First Industrial Realty Trust Stock Up 0.8 %

Shares of FR opened at $54.43 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average of $50.35 and a 200 day moving average of $50.37. The company has a market cap of $7.20 billion, a PE ratio of 25.08 and a beta of 1.07. 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 announced its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to analysts’ expectations of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. On average, sell-side analysts expect that First Industrial Realty Trust will post 2.61 EPS 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 21st. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.72%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of the stock. Farmers & Merchants Investments Inc. lifted its position 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 buying an additional 469 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 200 shares during the last quarter. Mather Group LLC. acquired a new stake in First Industrial Realty Trust in the first quarter valued at approximately $50,000. EdgeRock Capital LLC purchased a new position in First Industrial Realty Trust in the fourth quarter worth $56,000. Finally, C M Bidwell & Associates Ltd. increased its position in shares of First Industrial Realty Trust by 119.5% during 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 in 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.