First Industrial Realty Trust (NYSE:FR) Given New $57.00 Price Target at Wells Fargo & Company

First Industrial Realty Trust (NYSE:FR) had its target price hoisted by Wells Fargo & Company from $53.00 to $57.00 in a report issued on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other research firms have also commented on FR. JPMorgan Chase & Co. raised their price target on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Cantor Fitzgerald started coverage on shares of First Industrial Realty Trust in a research note on Wednesday, October 1st. They set a “neutral” rating and a $55.00 price objective on the stock. Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $51.00 to $54.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 27th. Royal Bank Of Canada lifted their price objective on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of First Industrial Realty Trust in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $56.58.

First Industrial Realty Trust Trading Up 0.8%

NYSE FR opened at $56.55 on Monday. First Industrial Realty Trust has a one year low of $40.31 and a one year high of $58.17. The company’s 50 day moving average price is $52.30 and its 200 day moving average price is $50.05. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 31.59 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The firm had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. During the same quarter last year, the firm posted $0.69 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 8.2% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, sell-side analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current year.

First Industrial Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 99.44%.

Institutional Trading of First Industrial Realty Trust

Hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in shares of First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 225 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of First Industrial Realty Trust during the third quarter worth approximately $39,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth approximately $40,000. SJS Investment Consulting Inc. acquired a new stake in shares of First Industrial Realty Trust during the third quarter worth approximately $47,000. Finally, True Wealth Design LLC grew its position in shares of First Industrial Realty Trust by 988.7% during the second quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 1,137 shares in the last quarter. 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.