Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) PT at $63.64

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $63.9286.

A number of research analysts recently weighed in on the company. Citigroup upped their price target on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Robert W. Baird upped their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada upped their price objective on First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Truist Financial boosted their target price on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company decreased their price target on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust in the third quarter worth $26,000. Parallel Advisors LLC grew its position in First Industrial Realty Trust by 86.9% in the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in First Industrial Realty Trust by 64.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after acquiring an additional 301 shares in the last quarter. Danske Bank A S purchased a new position in First Industrial Realty Trust in the third quarter worth $51,000. Finally, Parkside Financial Bank & Trust grew its position in First Industrial Realty Trust by 27.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 262 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Up 0.7%

Shares of NYSE FR opened at $60.44 on Thursday. The firm has a market cap of $8.01 billion, a PE ratio of 23.43 and a beta of 1.05. First Industrial Realty Trust has a 1 year low of $47.36 and a 1 year high of $64.66. The company has a 50 day simple moving average of $61.16 and a 200 day simple moving average of $59.61. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be given a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 annualized dividend and a yield of 3.3%. First Industrial Realty Trust’s payout ratio is 77.52%.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.