First Industrial Realty Trust (NYSE:FR) Price Target Raised to $65.00 at Truist Financial

First Industrial Realty Trust (NYSE:FR) had its price objective increased by Truist Financial from $60.00 to $65.00 in a report released on Tuesday morning, MarketBeat.com reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on FR. Cantor Fitzgerald reissued a “neutral” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their price target on First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Barclays reaffirmed a “positive” rating and set a $64.00 price target on shares of First Industrial Realty Trust in a research report on Tuesday, January 13th. Finally, UBS Group set a $62.00 price objective on First Industrial Realty Trust in a report on Thursday, December 4th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.46.

First Industrial Realty Trust Stock Down 1.8%

NYSE FR opened at $58.83 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.88. The company has a fifty day moving average of $57.70 and a two-hundred day moving average of $53.75. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 32.87 and a beta of 1.14. First Industrial Realty Trust has a 52 week low of $40.31 and a 52 week high of $60.20.

First Industrial Realty Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Wednesday, December 31st were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, December 31st. First Industrial Realty Trust’s payout ratio is presently 99.44%.

Insider Buying and Selling

In related news, CIO Johannson L. Yap sold 680 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.94% of the stock is owned by insiders.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of First Industrial Realty Trust in the second quarter valued at $272,085,000. Rush Island Management LP purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at about $79,904,000. PGGM Investments purchased a new position in First Industrial Realty Trust in the 2nd quarter valued at about $77,038,000. AQR Capital Management LLC grew its holdings in shares of First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after buying an additional 1,541,778 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. purchased a new stake in shares of First Industrial Realty Trust during the third quarter worth about $74,584,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.