First Industrial Realty Trust (NYSE:FR) Lowered to “Hold” at ValuEngine

ValuEngine lowered shares of First Industrial Realty Trust (NYSE:FR) from a buy rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a hold rating to a buy rating and set a $45.00 price target for the company in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $33.10.

Shares of NYSE:FR traded up $0.05 during mid-day trading on Wednesday, hitting $39.78. The company had a trading volume of 347,716 shares, compared to its average volume of 772,339. The company has a market capitalization of $5.03 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.70. The firm has a fifty day moving average price of $39.01 and a 200 day moving average price of $36.84. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.88 and a quick ratio of 0.88. First Industrial Realty Trust has a one year low of $27.30 and a one year high of $40.24.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 24th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). The business had revenue of $104.10 million for the quarter, compared to the consensus estimate of $105.62 million. First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. Research analysts expect that First Industrial Realty Trust will post 1.71 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.92 dividend on an annualized basis and a yield of 2.31%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 57.50%.

A number of hedge funds have recently made changes to their positions in the business. SRS Capital Advisors Inc. purchased a new stake in First Industrial Realty Trust during the second quarter valued at about $35,000. C M Bidwell & Associates Ltd. purchased a new stake in First Industrial Realty Trust during the second quarter valued at about $51,000. Point72 Hong Kong Ltd lifted its holdings in First Industrial Realty Trust by 848.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,660 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 1,485 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in First Industrial Realty Trust by 46.4% during the second quarter. Tower Research Capital LLC TRC now owns 2,234 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 708 shares during the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in First Industrial Realty Trust during the first quarter valued at about $169,000. Institutional investors and hedge funds own 94.38% 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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