First Industrial Realty Trust (NYSE:FR) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of First Industrial Realty Trust (NYSE:FR – Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

Several other equities analysts have also recently weighed in on FR. Wells Fargo & Company dropped their price objective on First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, May 19th. The Goldman Sachs Group dropped their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Scotiabank raised their target price on shares of First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a report on Monday, May 12th. Finally, Barclays cut their price target on shares of First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating for the company in a report on Wednesday, April 30th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average price target of $55.91.

Get Our Latest Stock Report on FR

First Industrial Realty Trust Trading Up 0.7%

FR stock opened at $49.77 on Friday. First Industrial Realty Trust has a 52 week low of $40.31 and a 52 week high of $58.17. The company has a market capitalization of $6.59 billion, a PE ratio of 24.64 and a beta of 1.07. The company’s 50-day simple moving average is $49.33 and its 200 day simple moving average is $51.03. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05.

First Industrial Realty Trust (NYSE:FR – Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. The business had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. As a group, sell-side analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Investors of record on Monday, June 30th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 88.12%.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 225 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of First Industrial Realty Trust in the first quarter worth approximately $26,000. Parallel Advisors LLC boosted its holdings in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock valued at $60,000 after acquiring an additional 821 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in First Industrial Realty Trust during the 1st quarter valued at approximately $69,000. Finally, Fifth Third Bancorp raised its holdings in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.

See Also