Robert W. Baird Reaffirms “Hold” Rating for First Industrial Realty Trust (FR)

Robert W. Baird reissued their hold rating on shares of First Industrial Realty Trust (NYSE:FR) in a research note issued to investors on Tuesday morning. Robert W. Baird currently has a $31.00 target price on the real estate investment trust’s stock.

A number of other research analysts also recently commented on FR. Jefferies Group reaffirmed a neutral rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. Janney Montgomery Scott began coverage on shares of First Industrial Realty Trust in a research note on Friday, September 29th. They set a buy rating and a $34.00 price target for the company. KeyCorp reiterated a hold rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. SunTrust Banks reiterated a buy rating and set a $32.00 price target on shares of First Industrial Realty Trust in a research note on Friday, October 27th. Finally, Stifel Nicolaus increased their price target on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a buy rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $32.29.

First Industrial Realty Trust (FR) traded down $0.03 during midday trading on Tuesday, hitting $29.81. 540,546 shares of the company were exchanged, compared to its average volume of 851,268. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $3,570.00, a P/E ratio of 27.86 and a beta of 1.03. First Industrial Realty Trust has a 1 year low of $25.31 and a 1 year high of $32.91.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million for the quarter, compared to the consensus estimate of $98.38 million. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.54%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. equities analysts expect that First Industrial Realty Trust will post 1.55 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio is currently 78.50%.

In related news, Director Bruce W. Duncan sold 16,855 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the sale, the director now owns 883,820 shares in the company, valued at approximately $28,043,608.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce W. Duncan sold 16,854 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total transaction of $546,406.68. Following the sale, the director now owns 866,966 shares of the company’s stock, valued at approximately $28,107,037.72. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of FR. Riverhead Capital Management LLC lifted its stake in shares of First Industrial Realty Trust by 77.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after acquiring an additional 2,724 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth $213,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Industrial Realty Trust by 7.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,917 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 575 shares during the period. Shelton Capital Management acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter worth $233,000. Finally, Virtu KCG Holdings LLC lifted its stake in shares of First Industrial Realty Trust by 15.8% in the 2nd quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 1,405 shares during the period. Hedge funds and other institutional investors own 92.88% 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.

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

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