Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $55.30

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have earned a consensus rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $55.30.

A number of equities research analysts recently issued reports on the company. Barclays reissued an “equal weight” rating and set a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Mizuho reissued a “buy” rating and set a $58.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, April 2nd. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Royal Bank of Canada upped their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. upped their target price on First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th.

Institutional Trading of First Industrial Realty Trust

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in First Industrial Realty Trust by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 275 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of First Industrial Realty Trust by 2.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust’s stock worth $6,946,000 after buying an additional 3,580 shares in the last quarter. Deutsche Bank AG lifted its position in shares of First Industrial Realty Trust by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock worth $10,655,000 after buying an additional 31,887 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of First Industrial Realty Trust by 93.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust’s stock worth $2,146,000 after buying an additional 21,780 shares in the last quarter. Finally, Pathstone Family Office LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $552,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $50.57 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $6.69 billion, a price-to-earnings ratio of 24.43 and a beta of 1.01. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.22. The company has a 50-day simple moving average of $52.75 and a two-hundred day simple moving average of $49.89.

First Industrial Realty Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.37 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 71.50%.

About First Industrial Realty Trust

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.