Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $55.30

First Industrial Realty Trust, Inc. (NYSE:FR) has been given a consensus rating of “Hold” by the eleven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $55.30.

A number of brokerages have issued reports on FR. JPMorgan Chase & Co. raised their target price on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Barclays reaffirmed an “equal weight” rating and set a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Truist Financial lifted their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $48.60 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average price is $52.73 and its two-hundred day moving average price is $49.91. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.22. The stock has a market capitalization of $6.43 billion, a P/E ratio of 23.48 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.37 per share. This is a boost from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, March 27th. This represents a $1.48 annualized dividend and a yield of 3.05%. First Industrial Realty Trust’s payout ratio is presently 71.50%.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FR. PNC Financial Services Group Inc. grew its position in First Industrial Realty Trust by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 275 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in First Industrial Realty Trust by 2.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust’s stock worth $6,946,000 after buying an additional 3,580 shares during the last quarter. Deutsche Bank AG grew its position in First Industrial Realty Trust by 16.6% in the third quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock worth $10,655,000 after buying an additional 31,887 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in First Industrial Realty Trust by 93.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust’s stock worth $2,146,000 after buying an additional 21,780 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new position in First Industrial Realty Trust in the third quarter worth approximately $552,000. 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.