First Industrial Realty Trust (NYSE:FR) Sets New 12-Month High – Should You Buy?

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) reached a new 52-week high on Wednesday . The stock traded as high as $57.62 and last traded at $57.54, with a volume of 71722 shares traded. The stock had previously closed at $56.64.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FR. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price target for the company from $52.00 to $59.00 in a report on Friday, February 21st. Barclays reduced their price objective on 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 began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird upped their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.31.

First Industrial Realty Trust Stock Up 1.1 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 26.33 and a beta of 1.09. The firm’s 50-day simple moving average is $53.09 and its two-hundred day simple moving average is $53.80.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. First Industrial Realty Trust’s payout ratio is 81.65%.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in shares of First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in First Industrial Realty Trust by 77.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 417 shares in the last quarter. UMB Bank n.a. grew its holdings in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 214 shares during the last quarter. Venturi Wealth Management LLC increased its position in First Industrial Realty Trust by 200.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 747 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 292 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.