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

First Industrial Realty Trust, Inc. (NYSE:FR) has received a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $58.91.

FR has been the subject of a number of recent analyst reports. Truist increased their target price on shares of First Industrial Realty Trust from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, October 25th. They noted that the move was a valuation call. Barclays initiated coverage on shares of First Industrial Realty Trust in a research report on Wednesday, September 1st. They set an “overweight” rating and a $65.00 target price for the company. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday. Berenberg Bank initiated coverage on shares of First Industrial Realty Trust in a research report on Wednesday, October 20th. They set a “buy” rating and a $66.00 target price for the company. Finally, Royal Bank of Canada increased their target price on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, November 8th.

A number of institutional investors and hedge funds have recently bought and sold shares of FR. Principal Financial Group Inc. increased its position in First Industrial Realty Trust by 11.6% in the 1st quarter. Principal Financial Group Inc. now owns 6,158,936 shares of the real estate investment trust’s stock valued at $282,018,000 after acquiring an additional 642,457 shares in the last quarter. HRT Financial LP acquired a new stake in First Industrial Realty Trust in the 1st quarter valued at about $295,000. AQR Capital Management LLC increased its position in First Industrial Realty Trust by 31.9% in the 1st quarter. AQR Capital Management LLC now owns 81,452 shares of the real estate investment trust’s stock valued at $3,730,000 after acquiring an additional 19,686 shares in the last quarter. FORA Capital LLC acquired a new stake in First Industrial Realty Trust in the 1st quarter valued at about $73,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in First Industrial Realty Trust in the 1st quarter valued at about $260,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Shares of NYSE:FR traded up $0.28 during midday trading on Friday, reaching $61.50. 838,805 shares of the company’s stock were exchanged, compared to its average volume of 974,434. The company’s 50 day simple moving average is $57.05 and its two-hundred day simple moving average is $54.69. The firm has a market capitalization of $8.01 billion, a PE ratio of 33.06 and a beta of 0.89. First Industrial Realty Trust has a 12 month low of $40.08 and a 12 month high of $61.81. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.88 and a current ratio of 0.88.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Tuesday, October 19th. The real estate investment trust reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.16). The business had revenue of $121.08 million for the quarter, compared to the consensus estimate of $117.95 million. First Industrial Realty Trust had a return on equity of 12.01% and a net margin of 51.46%. First Industrial Realty Trust’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, research analysts anticipate that First Industrial Realty Trust will post 1.96 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Friday, December 31st will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, December 30th. First Industrial Realty Trust’s payout ratio is presently 58.06%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc operates as a real estate investment trust. It engages in the ownership, management, acquisition, sale, development and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties.

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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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