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

First Industrial Realty Trust, Inc. (NYSE:FR) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $65.01 and last traded at $61.44, with a volume of 104 shares. The stock had previously closed at $61.52.

Analysts Set New Price Targets

A number of brokerages have weighed in on FR. Robert W. Baird lifted their target price on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Citigroup lifted their target price on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Scotiabank lifted their target price on 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. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.64.

First Industrial Realty Trust Stock Performance

The firm has a market capitalization of $8.25 billion, a P/E ratio of 24.13 and a beta of 1.07. The stock has a fifty day simple moving average of $60.71 and a two-hundred day simple moving average of $59.17. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is 77.52%.

Institutional Trading of First Industrial Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at $26,000. Parallel Advisors LLC increased its stake in First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings 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 in the last quarter. Danske Bank A S bought a new stake in First Industrial Realty Trust during the third quarter worth $51,000. Finally, Parkside Financial Bank & Trust grew its holdings in First Industrial Realty Trust by 27.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 262 shares in the last quarter. 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.