First Industrial Realty Trust, Inc. (NYSE:FR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $62.4615.

Several analysts have recently commented on FR shares. Wells Fargo & Company increased their price target on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. Robert W. Baird set a $64.00 target price on First Industrial Realty Trust in a research report on Thursday, January 8th. UBS Group set a $62.00 price target on First Industrial Realty Trust in a research note on Thursday, December 4th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, January 5th.

First Industrial Realty Trust Stock Down 2.2%

Shares of NYSE FR opened at $57.22 on Friday. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $60.20. The firm’s 50-day simple moving average is $57.77 and its 200 day simple moving average is $53.81. 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 market cap of $7.58 billion, a price-to-earnings ratio of 31.96 and a beta of 1.14.

First Industrial Realty Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Wednesday, December 31st. First Industrial Realty Trust’s payout ratio is 99.44%.

Insiders Place Their Bets

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the transaction, the executive directly owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.06% of the stock is owned by corporate insiders.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds have recently modified their holdings of FR. Norges Bank acquired a new position in First Industrial Realty Trust during the second quarter valued at approximately $272,085,000. Rush Island Management LP bought a new position in shares of First Industrial Realty Trust during the second quarter worth $79,904,000. PGGM Investments bought a new position in shares of First Industrial Realty Trust during the second quarter worth $77,038,000. AQR Capital Management LLC grew its holdings in shares of First Industrial Realty Trust by 491.9% in the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock valued at $89,291,000 after buying an additional 1,541,778 shares during the period. Finally, Duff & Phelps Investment Management Co. bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter valued at $74,584,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

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.