First Industrial Realty Trust (NYSE:FR) Receives Equal Weight Rating from Barclays

Barclays restated their equal weight rating on shares of First Industrial Realty Trust (NYSE:FR) in a research report sent to investors on Wednesday, Marketbeat reports. The firm currently has a $53.00 price target on the real estate investment trust’s stock, down from their prior price target of $63.00.

Other analysts have also issued reports about the stock. TheStreet upgraded shares of First Industrial Realty Trust from a c+ rating to a b- rating in a report on Thursday, January 11th. Royal Bank of Canada lifted their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an outperform rating in a report on Friday, February 16th. Wells Fargo & Company started coverage on shares of First Industrial Realty Trust in a report on Thursday, December 7th. They set an equal weight rating for the company. The Goldman Sachs Group lifted their target price on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a sell rating in a report on Thursday, January 11th. Finally, Truist Financial lifted their target price on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a buy rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $55.30.

First Industrial Realty Trust Stock Performance

Shares of FR opened at $52.07 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.22. The company has a 50-day simple moving average of $52.92 and a two-hundred day simple moving average of $49.72. The firm has a market capitalization of $6.89 billion, a PE ratio of 25.15 and a beta of 1.02.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, March 27th. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. First Industrial Realty Trust’s payout ratio is 61.84%.

Institutional Investors Weigh In On First Industrial Realty Trust

Large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in shares of First Industrial Realty Trust by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock valued at $429,000 after acquiring an additional 275 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of First Industrial Realty Trust by 2.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust’s stock valued at $6,946,000 after acquiring an additional 3,580 shares during the period. Deutsche Bank AG grew its position in shares of First Industrial Realty Trust by 16.6% during the 3rd quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust’s stock valued at $10,655,000 after acquiring an additional 31,887 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of First Industrial Realty Trust by 93.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust’s stock valued at $2,146,000 after acquiring an additional 21,780 shares during the period. Finally, Pathstone Family Office LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $552,000. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.