First Industrial Realty Trust (NYSE:FR) Price Target Raised to $66.00

First Industrial Realty Trust (NYSE:FR) had its target price raised by Scotiabank from $63.00 to $66.00 in a research report report published on Wednesday morning, MarketBeat Ratings reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Industrial Realty Trust in a research note on Friday, July 24th. Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, June 1st. Truist Financial increased their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a report on Monday, July 27th. Barclays raised their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Citigroup lifted their target price on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven 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 $67.07.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $62.88 on Wednesday. The business has a fifty day simple moving average of $64.20 and a 200 day simple moving average of $61.91. First Industrial Realty Trust has a twelve month low of $48.38 and a twelve month high of $69.88. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89. The company has a market cap of $8.34 billion, a P/E ratio of 22.95 and a beta of 1.04.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The company had revenue of $194.94 million during the quarter, compared to analyst estimates of $195.81 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, sell-side analysts forecast that First Industrial Realty Trust will post 3.16 EPS for the current fiscal year.

First Industrial Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, September 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 72.99%.

Institutional Trading of First Industrial Realty Trust

Hedge funds have recently bought and sold shares of the business. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at $26,000. Parallel Advisors LLC boosted its holdings in First Industrial Realty Trust by 86.9% during the fourth quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 291 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of First Industrial Realty Trust during the second quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $44,000 after acquiring an additional 301 shares during the last quarter. Finally, Danske Bank A S bought a new stake in First Industrial Realty Trust during the third quarter worth $51,000. 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 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.