Wedbush Equities Analysts Decrease Earnings Estimates for First Industrial Realty Trust, Inc. (NYSE:FR)

First Industrial Realty Trust, Inc. (NYSE:FR) – Analysts at Wedbush dropped their FY2024 earnings per share estimates for First Industrial Realty Trust in a research note issued to investors on Thursday, April 25th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $2.58 for the year, down from their prior estimate of $2.63. Wedbush has a “Neutral” rating and a $49.00 price objective on the stock. The consensus estimate for First Industrial Realty Trust’s current full-year earnings is $2.61 per share. Wedbush also issued estimates for First Industrial Realty Trust’s FY2025 earnings at $2.84 EPS.

Several other research analysts have also recently issued reports on the company. Barclays restated an “equal weight” rating and issued a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. The Goldman Sachs Group raised their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price objective on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Truist Financial raised their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, Mizuho restated a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $53.11.

First Industrial Realty Trust Trading Up 0.0 %

First Industrial Realty Trust stock opened at $46.05 on Friday. The stock has a 50-day moving average of $51.73 and a two-hundred day moving average of $49.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.25. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.22. The stock has a market cap of $6.09 billion, a PE ratio of 21.22 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.37 dividend. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. This represents a $1.48 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of First Industrial Realty Trust by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 38,100 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 900 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in First Industrial Realty Trust by 13.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,860 shares of the real estate investment trust’s stock valued at $1,516,000 after buying an additional 3,339 shares in the last quarter. Azzad Asset Management Inc. ADV grew its holdings in First Industrial Realty Trust by 7.0% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 6,177 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 405 shares in the last quarter. State of Michigan Retirement System grew its holdings in First Industrial Realty Trust by 2.2% in the 1st quarter. State of Michigan Retirement System now owns 32,468 shares of the real estate investment trust’s stock valued at $1,706,000 after buying an additional 700 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.