The Goldman Sachs Group Cuts First Industrial Realty Trust (NYSE:FR) Price Target to $51.00

First Industrial Realty Trust (NYSE:FR) had its target price cut by The Goldman Sachs Group from $59.00 to $51.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on FR. Scotiabank dropped their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock. Barclays reissued a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. Finally, Robert W. Baird raised their target price on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.15.

First Industrial Realty Trust Trading Up 1.1 %

NYSE FR opened at $47.63 on Tuesday. First Industrial Realty Trust has a one year low of $40.31 and a one year high of $58.17. 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 firm has a market cap of $6.31 billion, a P/E ratio of 21.85 and a beta of 1.07. The stock’s 50-day moving average is $52.23 and its 200-day moving average is $52.55.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $177.07 million for the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, March 31st were given a $0.445 dividend. The ex-dividend date was Monday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 3.74%. First Industrial Realty Trust’s dividend payout ratio is presently 88.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FR. CIBC Asset Management Inc boosted its holdings in shares of First Industrial Realty Trust by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 210 shares during the period. UMB Bank n.a. boosted its stake in First Industrial Realty Trust by 24.7% in the 4th 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 period. Stifel Financial Corp boosted its stake in First Industrial Realty Trust by 0.9% in the 4th quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 222 shares during the period. Bessemer Group Inc. grew its holdings in First Industrial Realty Trust by 93.0% in the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 225 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in First Industrial Realty Trust by 22.2% during the 1st quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.