First Industrial Realty Trust (NYSE:FR) Reaches New 1-Year Low After Analyst Downgrade

First Industrial Realty Trust, Inc. (NYSE:FR)’s share price reached a new 52-week low on Monday after Scotiabank lowered their price target on the stock from $58.00 to $50.00. Scotiabank currently has a sector perform rating on the stock. First Industrial Realty Trust traded as low as $44.01 and last traded at $44.46, with a volume of 73426 shares traded. The stock had previously closed at $47.68.

A number of other research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target on the stock. Robert W. Baird lifted their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $59.00 in a report on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Finally, Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.77.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in First Industrial Realty Trust by 92.5% during the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares in the last quarter. UMB Bank n.a. grew its stake in shares of First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of First Industrial Realty Trust by 200.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 747 shares during the period. Blue Trust Inc. increased its position in First Industrial Realty Trust by 30.7% in the fourth quarter. Blue Trust Inc. now owns 1,243 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 292 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in shares of First Industrial Realty Trust by 73.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,360 shares of the real estate investment trust’s stock worth $68,000 after buying an additional 575 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Trading Down 5.1 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The business’s 50 day simple moving average is $54.77 and its 200-day simple moving average is $53.48. The stock has a market capitalization of $5.99 billion, a P/E ratio of 20.76 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, analysts forecast that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.445 per share. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a yield of 3.93%. The ex-dividend date is Monday, March 31st. First Industrial Realty Trust’s dividend payout ratio (DPR) is 81.65%.

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.