Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Hold” from the eight analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $32.60.
A number of analysts recently weighed in on the company. ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Jefferies Financial Group downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. SunTrust Banks set a $35.00 price target on First Industrial Realty Trust and gave the stock a “buy” rating in a report on Tuesday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, July 27th.
In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 30,000 shares of First Industrial Realty Trust stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $32.52, for a total transaction of $975,600.00. Following the transaction, the director now owns 612,564 shares of the company’s stock, valued at approximately $19,920,581.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director H Patrick Hackett, Jr. sold 15,000 shares of First Industrial Realty Trust stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $31.38, for a total transaction of $470,700.00. Following the transaction, the director now directly owns 37,577 shares in the company, valued at approximately $1,179,166.26. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by company insiders.
Shares of FR opened at $30.89 on Monday. First Industrial Realty Trust has a 52 week low of $27.61 and a 52 week high of $34.04. The firm has a market capitalization of $3.90 billion, a PE ratio of 19.68 and a beta of 0.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.31 and a quick ratio of 1.53.
First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. The business had revenue of $100.26 million during the quarter, compared to the consensus estimate of $99.74 million. First Industrial Realty Trust had a return on equity of 13.40% and a net margin of 52.47%. As a group, analysts expect that First Industrial Realty Trust will post 1.59 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a $0.218 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.87 annualized dividend and a yield of 2.82%. First Industrial Realty Trust’s payout ratio is 55.41%.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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