First Industrial Realty Trust, Inc. (NYSE:FR – Get Free Report) gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $50.59, but opened at $52.99. First Industrial Realty Trust shares last traded at $52.78, with a volume of 154,424 shares traded.
The newly announced dividend which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 2.73%. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 61.84%.
Analyst Ratings Changes
Several brokerages recently weighed in on FR. Mizuho raised their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Wells Fargo & Company began coverage on First Industrial Realty Trust in a research report on Thursday, December 7th. They issued an “equal weight” rating for the company. The Goldman Sachs Group increased their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Finally, Truist Financial decreased their price target on First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.38.
First Industrial Realty Trust Stock Performance
The firm has a 50 day moving average of $52.20 and a 200-day moving average of $49.34. The stock has a market capitalization of $7.18 billion, a PE ratio of 26.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 1.06.
Institutional Investors Weigh In On First Industrial Realty Trust
Hedge funds have recently bought and sold shares of the business. Neo Ivy Capital Management purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter worth about $28,000. Quarry LP raised its stake in shares of First Industrial Realty Trust by 1,004.7% during the 2nd quarter. Quarry LP now owns 707 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of First Industrial Realty Trust during the 1st quarter worth about $46,000. EdgeRock Capital LLC purchased a new stake in shares of First Industrial Realty Trust during the 4th quarter worth about $56,000. Finally, CWM LLC raised its stake in shares of First Industrial Realty Trust by 31.9% during the 4th quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 390 shares in the last quarter. 98.36% of the stock is owned by hedge funds and other institutional investors.
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.
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