First Industrial Realty Trust (NYSE:FR) Given New $55.00 Price Target at Barclays

First Industrial Realty Trust (NYSE:FR) had its price target trimmed by Barclays from $56.00 to $55.00 in a report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

FR has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Truist Financial boosted their price objective on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their target price on First Industrial Realty Trust from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Wolfe Research raised First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group raised their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.83.

First Industrial Realty Trust Stock Up 0.1 %

NYSE:FR opened at $52.81 on Monday. First Industrial Realty Trust has a one year low of $45.02 and a one year high of $57.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $6.99 billion, a PE ratio of 22.67 and a beta of 1.08. The firm’s 50 day simple moving average is $54.41 and its 200 day simple moving average is $51.98.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, research analysts anticipate that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio is presently 63.52%.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently added to or reduced their stakes in FR. V Square Quantitative Management LLC purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its holdings in First Industrial Realty Trust by 46.4% during 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 purchasing an additional 200 shares during the period. UMB Bank n.a. increased its position in 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 worth $49,000 after buying an additional 466 shares during the last quarter. Blue Trust Inc. raised its stake in shares of First Industrial Realty Trust by 201.9% in the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 636 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of First Industrial Realty Trust by 77.4% in the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 417 shares during the period. Institutional investors own 99.85% of the company’s stock.

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.