First Industrial Realty Trust (NYSE:FR) PT Lowered to $53.00 at JPMorgan Chase & Co.

First Industrial Realty Trust (NYSE:FR) had its price objective cut by JPMorgan Chase & Co. from $59.00 to $53.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

FR has been the topic of a number of other research reports. The Goldman Sachs Group increased their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a sell rating in a research note on Thursday, January 11th. Mizuho reaffirmed a buy rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Royal Bank of Canada increased their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Friday, February 16th. TheStreet raised shares of First Industrial Realty Trust from a c+ rating to a b- rating in a research note on Thursday, January 11th. Finally, Truist Financial increased their price target on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $53.78.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $46.03 on Wednesday. The firm has a 50 day simple moving average of $51.89 and a 200-day simple moving average of $49.89. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. The firm has a market cap of $6.09 billion, a PE ratio of 21.21 and a beta of 1.01. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.22.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in First Industrial Realty Trust by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock valued at $429,000 after purchasing an additional 275 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in First Industrial Realty Trust by 2.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust’s stock valued at $6,946,000 after purchasing an additional 3,580 shares in the last quarter. Cetera Trust Company N.A acquired a new stake in First Industrial Realty Trust during the 4th quarter valued at $237,000. Deutsche Bank AG grew its holdings in First Industrial Realty Trust by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock valued at $10,655,000 after purchasing an additional 31,887 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in First Industrial Realty Trust by 93.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust’s stock valued at $2,146,000 after purchasing an additional 21,780 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.