First Industrial Realty Trust, Inc. (NYSE:FR) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $63.9286.

Several research firms have recently weighed in on FR. Scotiabank boosted their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a report on Monday, March 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $65.00 price objective on shares of First Industrial Realty Trust in a report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, February 9th. Wall Street Zen raised shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Citigroup boosted their price objective on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th.

First Industrial Realty Trust Stock Down 3.5%

Shares of First Industrial Realty Trust stock opened at $59.71 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $7.92 billion, a PE ratio of 23.14 and a beta of 1.06. First Industrial Realty Trust has a 52-week low of $47.36 and a 52-week high of $64.66. The company has a 50-day simple moving average of $61.05 and a two-hundred day simple moving average of $59.55.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th will be issued 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 of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is presently 77.52%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FR. Sequoia Financial Advisors LLC grew its position in First Industrial Realty Trust by 2.0% during the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after buying an additional 163 shares during the period. Crossmark Global Holdings Inc. grew its position in First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 179 shares during the period. Fifth Third Wealth Advisors LLC grew its position in First Industrial Realty Trust by 4.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 183 shares during the period. AlphaQuest LLC grew its position in First Industrial Realty Trust by 0.5% during the third quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after buying an additional 193 shares during the period. Finally, Assetmark Inc. grew its position in First Industrial Realty Trust by 7.1% during the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 198 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

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.