First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $63.9286.

A number of research firms have recently issued reports on FR. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Scotiabank boosted their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Truist Financial lifted their price target on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 27th.

First Industrial Realty Trust Price Performance

Shares of FR opened at $63.53 on Monday. The firm has a market capitalization of $8.42 billion, a PE ratio of 24.62 and a beta of 1.06. First Industrial Realty Trust has a 52-week low of $47.36 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day simple moving average of $62.33 and a 200 day simple moving average of $60.33.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust’s payout ratio is 77.52%.

Institutional Investors Weigh In On First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth about $26,000. Parallel Advisors LLC grew its holdings in shares of First Industrial Realty Trust by 86.9% during the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in First Industrial Realty Trust by 64.0% during 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 buying an additional 301 shares during the last quarter. Danske Bank A S purchased a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $51,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of 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 valued at $70,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.