First Industrial Realty Trust, Inc. (FR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $30.13.

Several analysts have recently commented on the stock. ValuEngine downgraded shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Monday, March 4th. Raymond James downgraded shares of First Industrial Realty Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. 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. Finally, JPMorgan Chase & Co. upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “neutral” rating in a research report on Wednesday, December 19th.

In other news, CFO Scott A. Musil sold 13,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $33.90, for a total transaction of $440,700.00. Following the sale, the chief financial officer now directly owns 110,989 shares in the company, valued at approximately $3,762,527.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Johannson L. Yap sold 15,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $34.02, for a total transaction of $510,300.00. Following the sale, the insider now owns 109,159 shares in the company, valued at $3,713,589.18. The disclosure for this sale can be found here. 1.59% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its holdings in First Industrial Realty Trust by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 485,177 shares of the real estate investment trust’s stock valued at $15,235,000 after acquiring an additional 13,639 shares during the last quarter. Dupont Capital Management Corp increased its holdings in First Industrial Realty Trust by 172.0% in the 4th quarter. Dupont Capital Management Corp now owns 135,381 shares of the real estate investment trust’s stock valued at $3,907,000 after acquiring an additional 85,617 shares during the last quarter. Morgan Stanley grew its stake in shares of First Industrial Realty Trust by 9.3% in the 3rd quarter. Morgan Stanley now owns 580,131 shares of the real estate investment trust’s stock worth $18,215,000 after buying an additional 49,248 shares in the last quarter. Vanguard Group Inc grew its stake in shares of First Industrial Realty Trust by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 18,681,684 shares of the real estate investment trust’s stock worth $586,605,000 after buying an additional 215,720 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of First Industrial Realty Trust by 1.5% in the 3rd quarter. BlackRock Inc. now owns 18,969,360 shares of the real estate investment trust’s stock worth $595,639,000 after buying an additional 274,196 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Shares of First Industrial Realty Trust stock opened at $35.75 on Thursday. The firm has a market cap of $4.49 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 3.48 and a beta of 0.76. First Industrial Realty Trust has a 1-year low of $27.30 and a 1-year high of $35.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.18 and a current ratio of 1.18.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, February 13th. The real estate investment trust reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $105.08 million for the quarter, compared to analysts’ expectations of $103.07 million. First Industrial Realty Trust had a net margin of 40.41% and a return on equity of 10.07%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. As a group, equities analysts expect that First Industrial Realty Trust will post 1.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.57%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, March 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 57.50%.

First Industrial Realty Trust Company Profile

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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