Analysts Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $64.29

First Industrial Realty Trust, Inc. (NYSE:FR) has received a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $64.2857.

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. Cantor Fitzgerald restated a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Truist Financial lifted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Barclays boosted their price target on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th.

First Industrial Realty Trust Stock Up 0.4%

NYSE FR opened at $68.47 on Friday. First Industrial Realty Trust has a 12 month low of $47.38 and a 12 month high of $69.88. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The stock has a market cap of $9.08 billion, a PE ratio of 26.54 and a beta of 1.05. The stock’s 50 day moving average is $63.12 and its 200 day moving average is $61.13.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Tuesday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. First Industrial Realty Trust’s payout ratio is 77.52%.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds have recently made changes to their positions in the company. M&T Bank Corp purchased a new position in shares of First Industrial Realty Trust in the 4th quarter worth $1,134,000. Hudson Bay Capital Management LP bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth about $20,172,000. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of First Industrial Realty Trust by 7.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust’s stock valued at $11,997,000 after buying an additional 14,693 shares in the last quarter. SG Americas Securities LLC raised its position in shares of First Industrial Realty Trust by 121.2% during the 4th quarter. SG Americas Securities LLC now owns 183,530 shares of the real estate investment trust’s stock valued at $10,511,000 after buying an additional 100,551 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 4.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 959,917 shares of the real estate investment trust’s stock valued at $54,974,000 after acquiring an additional 44,678 shares during the last quarter. 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 publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.