First Industrial Realty Trust (NYSE:FR) Given New $51.00 Price Target at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR) had its price target trimmed by The Goldman Sachs Group from $59.00 to $51.00 in a report released on Tuesday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on FR. Scotiabank lowered their price objective on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Robert W. Baird upped their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $57.15.

First Industrial Realty Trust Stock Up 2.1 %

First Industrial Realty Trust stock opened at $46.40 on Tuesday. The company has a market capitalization of $6.14 billion, a P/E ratio of 21.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The stock has a 50-day simple moving average of $52.55 and a 200-day simple moving average of $52.63.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The firm had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Equities research analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were paid a dividend of $0.445 per share. The ex-dividend date was Monday, March 31st. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.84%. First Industrial Realty Trust’s dividend payout ratio is 88.12%.

Institutional Trading of First Industrial Realty Trust

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its holdings in 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 buying an additional 481 shares in the last quarter. UMB Bank n.a. increased 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 acquiring an additional 214 shares in the last quarter. Parallel Advisors LLC raised its position in shares of First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 821 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 747 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in First Industrial Realty Trust by 30.7% in the 4th quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.