Truist Financial Issues Positive Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price target raised by Truist Financial from $66.00 to $67.00 in a research report sent to investors on Friday, Marketbeat.com reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their target price on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. Royal Bank Of Canada raised their target price on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and an average price target of $63.64.

First Industrial Realty Trust Trading Down 0.8%

Shares of FR stock opened at $60.81 on Friday. First Industrial Realty Trust has a 12-month low of $47.36 and a 12-month high of $64.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $60.63 and its 200 day moving average is $59.02. The stock has a market capitalization of $8.06 billion, a P/E ratio of 23.57 and a beta of 1.07.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 77.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FR. Bank of Stockton bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $946,000. Citadel Advisors LLC raised its position in shares of First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after purchasing an additional 1,035,385 shares during the period. Inscription Capital LLC raised its position in shares of First Industrial Realty Trust by 391.4% during the 3rd quarter. Inscription Capital LLC now owns 22,641 shares of the real estate investment trust’s stock valued at $1,165,000 after purchasing an additional 18,034 shares during the period. Thrivent Financial for Lutherans raised its position in shares of First Industrial Realty Trust by 3.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,134,890 shares of the real estate investment trust’s stock valued at $109,883,000 after purchasing an additional 63,112 shares during the period. Finally, Hudson Bay Capital Management LP bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $20,172,000. Hedge funds and other institutional investors 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.