First Industrial Realty Trust (NYSE:FR) PT Raised to $61.00

First Industrial Realty Trust (NYSE:FR) had its price objective upped by Wells Fargo & Company from $50.00 to $61.00 in a research note issued to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Other research analysts have also issued research reports about the stock. Scotiabank upped their price objective 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. Robert W. Baird reduced their price objective on First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on 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. Wolfe Research raised 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. Finally, Truist Financial lifted their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a buy rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $56.15.

First Industrial Realty Trust Stock Performance

FR opened at $56.71 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average price is $52.21 and its two-hundred day moving average price is $50.61. The firm has a market capitalization of $7.51 billion, a P/E ratio of 26.13 and a beta of 1.07. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $57.11.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.25). The company had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities analysts forecast that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be given a $0.37 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 2.61%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

Large investors have recently bought and sold shares of the business. Farmers & Merchants Investments Inc. raised its position 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 purchasing an additional 469 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust in the first quarter valued at about $50,000. EdgeRock Capital LLC acquired a new position in First Industrial Realty Trust during the 4th quarter worth about $56,000. Finally, C M Bidwell & Associates Ltd. grew its holdings in First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 765 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.