First Industrial Realty Trust, Inc. (NYSE:FR) Stock Has Average Target Price of $69.00

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $67.21.

A number of analysts have recently issued reports on FR shares. The Goldman Sachs Group decreased their target price on First Industrial Realty Trust from $72.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. UBS Group set a $71.00 target price on First Industrial Realty Trust in a research note on Friday, October 23rd. Royal Bank Of Canada upped their price target on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings downgraded First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, Cantor Fitzgerald decreased their price target on First Industrial Realty Trust from $71.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday.

First Industrial Realty Trust Trading Up 1.2%

Shares of FR opened at $54.99 on Friday. First Industrial Realty Trust has a twelve month low of $54.16 and a twelve month high of $69.88. The firm has a market capitalization of $7.29 billion, a P/E ratio of 17.64 and a beta of 1.03. The firm’s 50-day moving average is $60.16 and its two-hundred day moving average is $61.36. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.92.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.38). The business had revenue of $197.12 million during the quarter, compared to analysts’ expectations of $196.41 million. First Industrial Realty Trust had a net margin of 46.12% and a return on equity of 12.60%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. On average, research analysts predict that First Industrial Realty Trust will post 3.16 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Wednesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. First Industrial Realty Trust’s payout ratio is presently 74.35%.

Institutional Investors Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. BlackRock Inc. acquired a new position in First Industrial Realty Trust during the 2nd quarter valued at $1,021,489,000. Dimensional Fund Advisors LP boosted its stake in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,484 shares of the real estate investment trust’s stock valued at $117,173,000 after purchasing an additional 40,101 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $79,730,000. Artemis Investment Management LLP grew its holdings in shares of First Industrial Realty Trust by 0.5% during the third quarter. Artemis Investment Management LLP now owns 1,244,218 shares of the real estate investment trust’s stock worth $74,081,000 after purchasing an additional 6,732 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in shares of First Industrial Realty Trust by 27.1% in the first quarter. Quantinno Capital Management LP now owns 1,217,721 shares of the real estate investment trust’s stock worth $70,445,000 after acquiring an additional 259,476 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.