First Industrial Realty Trust (NYSE:FR) Rating Increased to Sector Weight at KeyCorp

KeyCorp upgraded shares of First Industrial Realty Trust (NYSE:FR) from an underweight rating to a sector weight rating in a research report released on Tuesday morning, Marketbeat reports.

FR has been the subject of several other reports. Mizuho boosted their target price on First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Scotiabank increased their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Wells Fargo & Company lifted their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Barclays decreased their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus target price of $57.83.

First Industrial Realty Trust Stock Down 0.8 %

First Industrial Realty Trust stock opened at $52.01 on Tuesday. The stock has a market cap of $6.88 billion, a PE ratio of 22.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average is $53.41 and its two-hundred day moving average is $52.73. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. On average, sell-side analysts expect that First Industrial Realty Trust will post 2.63 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, December 31st. First Industrial Realty Trust’s payout ratio is 63.52%.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently modified their holdings of the business. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the third quarter worth $60,848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Industrial Realty Trust by 290.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 895,046 shares of the real estate investment trust’s stock valued at $50,105,000 after purchasing an additional 665,920 shares in the last quarter. Land & Buildings Investment Management LLC lifted its stake in shares of First Industrial Realty Trust by 256.4% in the second quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after purchasing an additional 581,472 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in First Industrial Realty Trust during the second quarter worth about $23,755,000. Finally, Bank of Montreal Can grew its position in First Industrial Realty Trust by 442.8% during the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock worth $26,570,000 after buying an additional 456,124 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.