First Industrial Realty Trust, Inc. (FR) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have earned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $32.60.

Several research analysts have recently commented on FR shares. ValuEngine upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, October 26th. SunTrust Banks set a $35.00 target price on First Industrial Realty Trust and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Jefferies Financial Group lowered First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. Zacks Investment Research lowered First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th.

NYSE FR traded down $0.27 during mid-day trading on Monday, reaching $31.71. 340,073 shares of the company’s stock traded hands, compared to its average volume of 712,119. First Industrial Realty Trust has a 1-year low of $27.61 and a 1-year high of $34.04. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.78. The firm has a market cap of $4.05 billion, a PE ratio of 20.28 and a beta of 0.62.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $100.26 million during the quarter, compared to analyst estimates of $99.74 million. First Industrial Realty Trust had a return on equity of 13.40% and a net margin of 52.47%. On average, analysts anticipate that First Industrial Realty Trust will post 1.59 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Monday, December 31st will be given a $0.2175 dividend. The ex-dividend date is Friday, December 28th. This represents a $0.87 annualized dividend and a dividend yield of 2.74%. First Industrial Realty Trust’s payout ratio is 55.41%.

In related news, Director H Patrick Hackett, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $31.38, for a total value of $470,700.00. Following the sale, the director now owns 37,577 shares of the company’s stock, valued at approximately $1,179,166.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bruce W. Duncan sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $32.52, for a total value of $975,600.00. Following the completion of the sale, the director now directly owns 612,564 shares in the company, valued at approximately $19,920,581.28. The disclosure for this sale can be found here. 1.71% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the business. American International Group Inc. raised its stake in First Industrial Realty Trust by 1.6% during the 3rd quarter. American International Group Inc. now owns 336,479 shares of the real estate investment trust’s stock valued at $10,565,000 after acquiring an additional 5,336 shares in the last quarter. BlackRock Inc. raised its stake in First Industrial Realty Trust by 1.5% during the 3rd quarter. BlackRock Inc. now owns 18,969,360 shares of the real estate investment trust’s stock valued at $595,639,000 after acquiring an additional 274,196 shares in the last quarter. Swiss National Bank raised its stake in First Industrial Realty Trust by 4.7% during the 3rd quarter. Swiss National Bank now owns 218,700 shares of the real estate investment trust’s stock valued at $6,867,000 after acquiring an additional 9,900 shares in the last quarter. Redpoint Investment Management Pty Ltd bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at $310,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in First Industrial Realty Trust by 2.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 77,780 shares of the real estate investment trust’s stock valued at $2,442,000 after acquiring an additional 2,140 shares in the last quarter. 93.24% 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 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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