First Industrial Realty Trust (NYSE:FR) Receives “Buy” Rating from Mizuho

Mizuho reiterated their buy rating on shares of First Industrial Realty Trust (NYSE:FRFree Report) in a report issued on Tuesday, Benzinga reports. They currently have a $58.00 price target on the real estate investment trust’s stock.

Several other brokerages have also recently issued reports on FR. JPMorgan Chase & Co. boosted their price target on shares of First Industrial Realty Trust from $51.00 to $59.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Barclays restated an equal weight rating and issued a $53.00 price objective (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. The Goldman Sachs Group upped their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a sell rating in a report on Thursday, January 11th. TheStreet upgraded shares of First Industrial Realty Trust from a c+ rating to a b- rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an outperform rating in a report on Friday, February 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $55.30.

Read Our Latest Report on FR

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $51.21 on Tuesday. First Industrial Realty Trust has a 1 year low of $40.44 and a 1 year high of $55.22. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 1.06. The company’s 50-day moving average is $52.82 and its 200 day moving average is $49.74. The stock has a market capitalization of $6.78 billion, a P/E ratio of 24.74 and a beta of 1.01.

First Industrial Realty Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.89%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, March 27th. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 71.50%.

Institutional Trading of First Industrial Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of FR. State of Michigan Retirement System grew its stake in First Industrial Realty Trust by 0.6% during the fourth quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock valued at $1,673,000 after acquiring an additional 200 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in First Industrial Realty Trust by 4.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,041 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 217 shares in the last quarter. Covestor Ltd grew its stake in First Industrial Realty Trust by 14.0% during the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 241 shares in the last quarter. GYL Financial Synergies LLC grew its stake in First Industrial Realty Trust by 0.7% during the third quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust’s stock valued at $1,688,000 after acquiring an additional 242 shares in the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in First Industrial Realty Trust by 6.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 4,124 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 245 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Company Profile

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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.

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