First Industrial Realty Trust (NYSE:FR) Sets New 1-Year High – What’s Next?

First Industrial Realty Trust, Inc. (NYSE:FR) hit a new 52-week high on Monday . The company traded as high as $59.48 and last traded at $59.2640, with a volume of 31888 shares changing hands. The stock had previously closed at $59.21.

Analysts Set New Price Targets

FR has been the subject of several recent analyst reports. 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. The Goldman Sachs Group raised their price objective on First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Monday, January 5th. Robert W. Baird set a $64.00 target price on shares of First Industrial Realty Trust in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $60.54.

First Industrial Realty Trust Stock Performance

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 company has a market cap of $7.80 billion, a price-to-earnings ratio of 32.90 and a beta of 1.14. The firm’s 50-day moving average price is $57.18 and its 200 day moving average price is $53.24.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The firm had revenue of $181.43 million during the quarter, compared to analyst estimates of $182.63 million. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, sell-side analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Wednesday, December 31st. First Industrial Realty Trust’s payout ratio is currently 99.44%.

Insiders Place Their Bets

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares in the company, valued at $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in FR. Jump Financial LLC purchased a new stake in shares of First Industrial Realty Trust during the second quarter valued at about $4,795,000. Hunter Perkins Capital Management LLC acquired a new stake in First Industrial Realty Trust during the second quarter worth about $746,000. Liberty One Investment Management LLC lifted its stake in shares of First Industrial Realty Trust by 6.4% in the 2nd quarter. Liberty One Investment Management LLC now owns 97,647 shares of the real estate investment trust’s stock valued at $4,700,000 after purchasing an additional 5,835 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of First Industrial Realty Trust by 3.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 21,771 shares of the real estate investment trust’s stock valued at $1,053,000 after purchasing an additional 757 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of First Industrial Realty Trust by 120.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 55,807 shares of the real estate investment trust’s stock worth $2,872,000 after buying an additional 30,470 shares during the period. 99.85% of the stock is currently owned by institutional investors.

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.