First Industrial Realty Trust (NYSE:FR) PT Raised to $58.00 at Scotiabank

First Industrial Realty Trust (NYSE:FR) had its price target lifted by Scotiabank from $55.00 to $58.00 in a research note released on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other brokerages have also weighed in on FR. Royal Bank of Canada upped their price objective on First Industrial Realty Trust from $57.00 to $60.00 and gave the company an outperform rating in a report on Tuesday, July 30th. Wolfe Research upgraded First Industrial Realty Trust from a peer perform rating to an outperform rating and set a $64.00 price objective on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a sell rating in a research report on Friday, July 26th. Finally, BNP Paribas began coverage on First Industrial Realty Trust in a research report on Tuesday, June 4th. They set an outperform rating and a $57.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $56.15.

First Industrial Realty Trust Trading Up 0.5 %

Shares of First Industrial Realty Trust stock opened at $56.15 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 25.88 and a beta of 1.07. The business has a fifty day simple moving average of $52.02 and a 200-day simple moving average of $50.60. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $57.11.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 EPS. On average, equities analysts forecast that First Industrial Realty Trust will post 2.61 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is 68.20%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Centersquare Investment Management LLC raised its position in shares of First Industrial Realty Trust by 8.4% in the first quarter. Centersquare Investment Management LLC now owns 4,932,306 shares of the real estate investment trust’s stock valued at $259,143,000 after purchasing an additional 380,805 shares during the period. Campbell & CO Investment Adviser LLC lifted its position in First Industrial Realty Trust by 66.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 41,720 shares of the real estate investment trust’s stock worth $2,197,000 after acquiring an additional 16,652 shares during the last quarter. Cibc World Markets Corp bought a new stake in First Industrial Realty Trust during the fourth quarter valued at about $11,808,000. Frontier Capital Management Co. LLC grew its position in shares of First Industrial Realty Trust by 788.5% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,245,455 shares of the real estate investment trust’s stock valued at $65,598,000 after purchasing an additional 1,105,286 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in shares of First Industrial Realty Trust in the second quarter worth about $2,824,000. 99.85% of the stock is owned by institutional investors.

About First Industrial Realty Trust

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.