First Industrial Realty Trust (NYSE:FR) Given New $56.00 Price Target at Robert W. Baird

First Industrial Realty Trust (NYSE:FR) had its target price decreased by Robert W. Baird from $62.00 to $56.00 in a research note published on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Wedbush lowered First Industrial Realty Trust from an outperform rating to a neutral rating and lowered their price objective for the stock from $59.00 to $49.00 in a research note on Thursday, April 25th. The Goldman Sachs Group raised their target price on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a sell rating in a report on Thursday, January 11th. Mizuho restated a buy rating and issued a $58.00 target price on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. Truist Financial lifted their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a buy rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating for the company in a research note on Wednesday, April 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $53.40.

First Industrial Realty Trust Stock Performance

FR opened at $46.02 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day simple moving average of $51.02 and a 200 day simple moving average of $49.89. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a market capitalization of $6.09 billion, a PE ratio of 21.21 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. State of Michigan Retirement System boosted its holdings in First Industrial Realty Trust by 0.6% during the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock worth $1,673,000 after acquiring an additional 200 shares during the last quarter. Covestor Ltd boosted its holdings in First Industrial Realty Trust by 14.0% during the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 241 shares during the last quarter. GYL Financial Synergies LLC grew its position in First Industrial Realty Trust by 0.7% in the 3rd quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 242 shares in the last quarter. M&T Bank Corp lifted its position in shares of First Industrial Realty Trust by 1.5% during the 3rd quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 250 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of First Industrial Realty Trust by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 275 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.