First Industrial Realty Trust, Inc. (FR) Reaches New 1-Year High at $32.13

First Industrial Realty Trust, Inc. (NYSE:FR) reached a new 52-week high during trading on Monday . The company traded as high as $32.13 and last traded at $31.57, with a volume of 471800 shares changing hands. The stock had previously closed at $31.57.

FR has been the topic of a number of recent analyst reports. SunTrust Banks, Inc. reissued a “buy” rating and set a $32.00 price target on shares of First Industrial Realty Trust in a report on Friday, October 27th. KeyCorp reissued a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $32.00 price target (up from $30.00) on shares of First Industrial Realty Trust in a report on Thursday, August 24th. Stifel Nicolaus raised their price objective on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. First Industrial Realty Trust has a consensus rating of “Hold” and a consensus price target of $31.67.

The firm has a market capitalization of $3,862.67, a PE ratio of 20.93 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.38 million. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. research analysts predict that First Industrial Realty Trust, Inc. will post 1.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.61%. First Industrial Realty Trust’s payout ratio is 78.50%.

In related news, EVP David Harker sold 20,000 shares of First Industrial Realty Trust stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $30.45, for a total value of $609,000.00. Following the completion of the transaction, the executive vice president now owns 118,470 shares in the company, valued at $3,607,411.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bruce W. Duncan sold 16,855 shares of First Industrial Realty Trust stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total value of $534,809.15. Following the completion of the transaction, the director now owns 883,820 shares of the company’s stock, valued at approximately $28,043,608.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,565 shares of company stock valued at $2,194,718. 1.71% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. grew its position in First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 70 shares in the last quarter. IFP Advisors Inc lifted its stake in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 190 shares during the last quarter. GAM Holding AG lifted its stake in First Industrial Realty Trust by 3.6% in the second quarter. GAM Holding AG now owns 9,946 shares of the real estate investment trust’s stock worth $285,000 after purchasing an additional 345 shares during the last quarter. Amalgamated Bank lifted its stake in First Industrial Realty Trust by 2.2% in the second quarter. Amalgamated Bank now owns 16,607 shares of the real estate investment trust’s stock worth $475,000 after purchasing an additional 351 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its stake in First Industrial Realty Trust by 0.3% in the second quarter. Great West Life Assurance Co. Can now owns 128,273 shares of the real estate investment trust’s stock worth $3,669,000 after purchasing an additional 394 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

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