First Industrial Realty Trust (NYSE:FR) Reaches New 12-Month High – Should You Buy?

First Industrial Realty Trust, Inc. (NYSE:FR)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $69.88 and last traded at $68.96, with a volume of 1390863 shares trading hands. The stock had previously closed at $68.86.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FR. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research report on Thursday, June 18th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays increased their price target on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. KeyCorp reissued a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Finally, Robert W. Baird boosted 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. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.29.

First Industrial Realty Trust Stock Up 0.4%

The firm’s 50 day moving average price is $63.12 and its two-hundred day moving average price is $61.13. The company has a market cap of $9.08 billion, a P/E ratio of 26.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. First Industrial Realty Trust’s dividend payout ratio is currently 77.52%.

Institutional Trading of First Industrial Realty Trust

Several large investors have recently made changes to their positions in FR. Goldman Sachs Group Inc. raised its stake in First Industrial Realty Trust by 41.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock worth $45,301,000 after buying an additional 244,562 shares during the period. First Trust Advisors LP grew its stake in First Industrial Realty Trust by 141.1% in the second quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after acquiring an additional 50,839 shares during the period. Baird Financial Group Inc. increased its holdings in shares of First Industrial Realty Trust by 4.4% during the second quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock valued at $2,685,000 after acquiring an additional 2,356 shares in the last quarter. Cresset Asset Management LLC bought a new stake in shares of First Industrial Realty Trust during the second quarter valued at approximately $275,000. Finally, Cerity Partners LLC increased its holdings in shares of First Industrial Realty Trust by 463.4% during the second quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after acquiring an additional 51,828 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

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.