First Industrial Realty Trust (NYSE:FR) Trading Down 4%

First Industrial Realty Trust, Inc. (NYSE:FR) fell 4% during mid-day trading on Thursday . The stock traded as low as $46.59 and last traded at $46.66. 550,270 shares were traded during mid-day trading, a decline of 52% from the average session volume of 1,150,818 shares. The stock had previously closed at $48.60.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FR. JPMorgan Chase & Co. increased their price target on First Industrial Realty Trust from $51.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. TheStreet upgraded First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Royal Bank of Canada increased 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. Truist Financial upped their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.30.

First Industrial Realty Trust Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.06. The firm’s 50-day moving average price is $52.36 and its 200 day moving average price is $49.87. The firm has a market cap of $6.03 billion, a P/E ratio of 21.01 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given 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 of this dividend was Wednesday, March 27th. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Hedge Funds Weigh In On First Industrial Realty Trust

Several large investors have recently modified their holdings of the stock. Azzad Asset Management Inc. ADV lifted its holdings in First Industrial Realty Trust by 7.0% in the first quarter. Azzad Asset Management Inc. ADV now owns 6,177 shares of the real estate investment trust’s stock worth $325,000 after acquiring an additional 405 shares during the last quarter. State of Michigan Retirement System lifted its holdings in First Industrial Realty Trust by 2.2% in the first quarter. State of Michigan Retirement System now owns 32,468 shares of the real estate investment trust’s stock worth $1,706,000 after acquiring an additional 700 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its holdings in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares during the last quarter. Oak Thistle LLC lifted its holdings in First Industrial Realty Trust by 38.2% in the first quarter. Oak Thistle LLC now owns 12,509 shares of the real estate investment trust’s stock worth $657,000 after acquiring an additional 3,456 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in First Industrial Realty Trust by 38.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,090 shares of the real estate investment trust’s stock worth $320,000 after acquiring an additional 1,693 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.