First Industrial Realty Trust, Inc. (NYSE:FR) Receives $62.46 Average PT from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $62.4615.

Several equities analysts recently issued reports on FR shares. Truist Financial raised their price target on First Industrial Realty Trust from $60.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday, January 5th. Barclays reiterated a “positive” rating and set a $64.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th. Finally, Mizuho increased their price objective on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, December 4th.

Insider Buying and Selling at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total value of $39,691.60. Following the transaction, the executive directly owned 3,770 shares in the company, valued at $220,054.90. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Measured Wealth Private Client Group LLC bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at $26,000. Mather Group LLC. bought a new position in First Industrial Realty Trust during the third quarter worth about $39,000. Elevation Point Wealth Partners LLC acquired a new position in First Industrial Realty Trust in the second quarter valued at about $40,000. SJS Investment Consulting Inc. acquired a new position in First Industrial Realty Trust in the third quarter valued at about $47,000. Finally, Danske Bank A S bought a new stake in shares of First Industrial Realty Trust in the third quarter worth about $51,000. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Stock Up 0.3%

Shares of FR opened at $57.36 on Friday. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 32.04 and a beta of 1.14. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The business’s fifty day moving average price is $57.80 and its two-hundred day moving average price is $53.95. First Industrial Realty Trust has a 52 week low of $40.31 and a 52 week high of $60.20.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.445 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.78 annualized dividend and a dividend yield of 3.1%. First Industrial Realty Trust’s payout ratio is presently 99.44%.

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.