First Industrial Realty Trust, Inc. (NYSE:FR) Receives Average Rating of “Hold” from Brokerages

First Industrial Realty Trust, Inc. (NYSE:FR) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $57.38.

Several equities research analysts have recently issued reports on FR shares. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. Barclays cut their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors have recently made changes to their positions in FR. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $60,848,000. JPMorgan Chase & Co. increased its position in First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in First Industrial Realty Trust by 290.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after buying an additional 665,920 shares during the last quarter. Land & Buildings Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 256.4% during the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after acquiring an additional 581,472 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of First Industrial Realty Trust during the second quarter worth about $23,755,000. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $50.76 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $6.72 billion, a PE ratio of 21.78 and a beta of 1.08. First Industrial Realty Trust has a one year low of $45.10 and a one year high of $57.35. The business’s fifty day moving average price is $51.60 and its two-hundred day moving average price is $53.23.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 63.52%.

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.