First Industrial Realty Trust (NYSE:FR) Price Target Raised to $56.00 at Barclays

by · The Markets Daily

First Industrial Realty Trust (NYSE:FR – Free Report) had its price target hoisted by Barclays from $52.00 to $56.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Several other analysts have also recently commented on the stock. Scotiabank upped their target price on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a sector perform rating in a research report on Monday, August 26th. Truist Financial upped their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a buy rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an equal weight rating in a research report on Wednesday, August 28th. Finally, Wolfe Research upgraded shares of First Industrial Realty Trust from a peer perform rating to an outperform rating and set a $64.00 target price for the company in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $56.69.

Check Out Our Latest Report on FR

First Industrial Realty Trust Price Performance

NYSE FR traded up $0.20 during trading on Thursday, reaching $53.96. 39,318 shares of the company traded hands, compared to its average volume of 1,076,269. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50 day moving average price is $55.18 and its two-hundred day moving average price is $51.10. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $57.35. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 25.00 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR – Get Free Report) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. During the same quarter last year, the firm earned $0.61 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts anticipate that First Industrial Realty Trust will post 2.62 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, September 30th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s payout ratio is presently 68.84%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. raised its holdings in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of First Industrial Realty Trust by 46.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. UMB Bank n.a. raised its position in shares of First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 466 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust in the first quarter valued at approximately $50,000. Finally, GAMMA Investing LLC raised its position in shares of First Industrial Realty Trust by 132.7% in the third quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 629 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

(Get Free Report)

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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