First Industrial Realty Trust (NYSE:FR) Price Target Lowered to $54.00 at Wells Fargo & Company

First Industrial Realty Trust (NYSE:FR) had its target price lowered by Wells Fargo & Company from $57.00 to $54.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on the company. Barclays lowered their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group lowered their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird lowered their price objective on First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 6th. Scotiabank raised their price target on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Finally, Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

First Industrial Realty Trust Trading Down 0.3%

NYSE:FR opened at $50.96 on Monday. The company has a market cap of $6.75 billion, a P/E ratio of 23.38 and a beta of 1.08. The stock’s fifty day moving average price is $49.76 and its two-hundred day moving average price is $51.94. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 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.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The business had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. As a group, analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 21st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.445 per share. The ex-dividend date is Monday, June 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.49%. First Industrial Realty Trust’s dividend payout ratio (DPR) is currently 88.12%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FR. Invesco Ltd. grew its stake in shares of First Industrial Realty Trust by 80.2% during the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after buying an additional 1,903,164 shares during the last quarter. Norges Bank bought a new position in shares of First Industrial Realty Trust during the fourth quarter valued at about $90,489,000. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of First Industrial Realty Trust by 381.2% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock valued at $111,708,000 after buying an additional 1,639,952 shares during the last quarter. Millennium Management LLC grew its stake in shares of First Industrial Realty Trust by 159.5% during the first quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock valued at $121,987,000 after buying an additional 1,389,418 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of First Industrial Realty Trust in the first quarter worth about $42,063,000. 99.85% of the stock is 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.