Brokerages Set First Industrial Realty Trust, Inc. (FR) PT at $31.70

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Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned an average recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $31.70.

A number of brokerages have recently commented on FR. Goldman Sachs Group began coverage on First Industrial Realty Trust in a report on Wednesday, May 15th. They set a “buy” rating and a $38.00 price target for the company. Zacks Investment Research upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, March 4th. Mizuho restated a “buy” rating and set a $38.00 price objective on shares of First Industrial Realty Trust in a research report on Wednesday, February 20th. Finally, SunTrust Banks restated a “buy” rating and set a $36.00 price objective on shares of First Industrial Realty Trust in a research report on Wednesday, February 20th.

Shares of FR stock opened at $34.62 on Friday. First Industrial Realty Trust has a 12 month low of $27.30 and a 12 month high of $36.21. The company has a market cap of $4.38 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 3.18 and a beta of 0.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). First Industrial Realty Trust had a return on equity of 9.05% and a net margin of 36.88%. The business had revenue of $104.50 million for the quarter, compared to analyst estimates of $104.68 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that First Industrial Realty Trust will post 1.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Thursday, June 27th. First Industrial Realty Trust’s dividend payout ratio is presently 57.50%.

In other news, insider Johannson L. Yap sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $34.02, for a total transaction of $510,300.00. Following the sale, the insider now directly owns 109,159 shares in the company, valued at $3,713,589.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.22% of the company’s stock.

A number of large investors have recently made changes to their positions in FR. BlackRock Inc. grew its position in First Industrial Realty Trust by 10.3% in the first quarter. BlackRock Inc. now owns 21,236,093 shares of the real estate investment trust’s stock valued at $750,907,000 after acquiring an additional 1,981,659 shares during the period. Norges Bank bought a new stake in shares of First Industrial Realty Trust during the fourth quarter worth $41,197,000. Oregon Public Employees Retirement Fund grew its holdings in shares of First Industrial Realty Trust by 2,786.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,431,889 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,382,274 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of First Industrial Realty Trust by 66.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,800,660 shares of the real estate investment trust’s stock worth $63,671,000 after purchasing an additional 721,566 shares during the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of First Industrial Realty Trust by 18.4% during the fourth quarter. Macquarie Group Ltd. now owns 2,303,636 shares of the real estate investment trust’s stock worth $66,483,000 after purchasing an additional 357,946 shares during the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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