First Industrial Realty Trust (NYSE:FR) Coverage Initiated by Analysts at BNP Paribas

BNP Paribas started coverage on shares of First Industrial Realty Trust (NYSE:FRFree Report) in a research note issued to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $57.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on the company. Wedbush downgraded First Industrial Realty Trust from an outperform rating to a neutral rating and reduced their target price for the company from $59.00 to $49.00 in a report on Thursday, April 25th. Barclays restated an equal weight rating and set a $53.00 target price (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price target on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating for the company in a research report on Wednesday, April 24th. Scotiabank lowered their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a sector perform rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial lifted their price objective on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a buy rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $53.42.

Get Our Latest Analysis on FR

First Industrial Realty Trust Price Performance

Shares of FR opened at $46.91 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock’s 50 day moving average is $48.35 and its two-hundred day moving average is $50.63. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.22. The firm has a market capitalization of $6.21 billion, a PE ratio of 21.62 and a beta of 1.07.

First Industrial Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, June 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 68.20%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. raised its position in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 469 shares during the period. Mather Group LLC. acquired a new position in First Industrial Realty Trust in the first quarter worth about $50,000. EdgeRock Capital LLC acquired a new position in First Industrial Realty Trust in the fourth quarter worth about $56,000. C M Bidwell & Associates Ltd. grew its stake in First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in First Industrial Realty Trust in the fourth quarter worth about $82,000. 99.85% of the stock is owned by hedge funds and other 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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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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