First Industrial Realty Trust (NYSE:FR) Reaches New 52-Week High at $55.95

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) hit a new 52-week high on Friday . The stock traded as high as $55.95 and last traded at $55.93, with a volume of 46232 shares. The stock had previously closed at $55.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FR shares. The Goldman Sachs Group upped their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. increased their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial boosted their price target on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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 research note on Tuesday, August 13th. Finally, Robert W. Baird lowered their target price on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and a consensus target price of $55.50.

First Industrial Realty Trust Stock Up 2.5 %

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 capitalization of $7.47 billion, a PE ratio of 26.00 and a beta of 1.07. The business’s 50-day moving average price is $51.30 and its 200-day moving average price is $50.48.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results 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 return on equity of 10.72% and a net margin of 44.46%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.61 EPS for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 2.62%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 68.20%.

Institutional Investors Weigh In On First Industrial Realty Trust

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV lifted its stake in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 295 shares during the last quarter. CWM LLC lifted its stake in shares of First Industrial Realty Trust by 31.9% in the fourth quarter. CWM LLC now owns 1,613 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 390 shares during the last quarter. Fortem Financial Group LLC boosted its holdings in shares of First Industrial Realty Trust by 4.6% during the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 438 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

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.