First Industrial Realty Trust (NYSE:FR) Stock Rating Upgraded by KeyCorp

KeyCorp upgraded shares of First Industrial Realty Trust (NYSE:FR) from an underweight rating to a sector weight rating in a research note issued to investors on Tuesday, MarketBeat reports.

A number of other equities analysts have also recently weighed in on FR. Barclays cut their price target on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. 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 report on Monday, August 26th. Mizuho raised their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, Wells Fargo & Company boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $57.83.

First Industrial Realty Trust Price Performance

First Industrial Realty Trust stock opened at $52.01 on Tuesday. The firm has a market capitalization of $6.88 billion, a PE ratio of 22.32 and a beta of 1.07. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $57.35. The firm’s 50-day simple moving average is $53.41 and its 200 day simple moving average is $52.73. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80.

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

First Industrial Realty Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, December 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 63.52%.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC grew its stake 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 worth $30,000 after buying an additional 200 shares during the period. UMB Bank n.a. raised its stake in shares of First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 466 shares during the period. Blue Trust Inc. lifted its holdings in shares of First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after acquiring an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 417 shares during the period. 99.85% of the stock is currently owned by hedge funds and other 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.