First Industrial Realty Trust, Inc. (NYSE:FR) Given Average Rating of “Buy” by Brokerages

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First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus recommendation of “Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $33.10.

FR has been the topic of several analyst reports. Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, September 25th. ValuEngine lowered shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of FR opened at $40.26 on Monday. The business’s 50-day moving average is $39.38 and its two-hundred day moving average is $37.19. The company has a market capitalization of $5.08 billion, a P/E ratio of 25.16, a P/E/G ratio of 3.66 and a beta of 0.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 0.88. First Industrial Realty Trust has a fifty-two week low of $27.30 and a fifty-two week high of $40.32.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.11). The company had revenue of $104.10 million for the quarter, compared to analyst estimates of $105.62 million. First Industrial Realty Trust had a return on equity of 8.70% and a net margin of 35.11%. First Industrial Realty Trust’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Analysts forecast that First Industrial Realty Trust will post 1.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, September 27th. First Industrial Realty Trust’s payout ratio is currently 57.50%.

Several hedge funds have recently bought and sold shares of FR. SRS Capital Advisors Inc. purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at about $35,000. C M Bidwell & Associates Ltd. purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at about $51,000. Point72 Hong Kong Ltd lifted its stake in First Industrial Realty Trust by 848.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,660 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 1,485 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in First Industrial Realty Trust by 46.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,234 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 708 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in First Industrial Realty Trust by 11.5% in the 2nd quarter. Assetmark Inc. now owns 4,993 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 516 shares in the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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