SunTrust Banks, Inc. reissued their buy rating on shares of First Industrial Realty Trust, Inc. (NYSE:FR) in a report released on Friday morning. SunTrust Banks, Inc. currently has a $34.00 target price on the real estate investment trust’s stock.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the company a buy rating in a research report on Monday, November 6th. KeyCorp restated a hold rating on shares of First Industrial Realty Trust in a research report on Tuesday, October 24th. Janney Montgomery Scott began coverage on shares of First Industrial Realty Trust in a research report on Friday, September 29th. They set a buy rating and a $34.00 price objective on the stock. Jefferies Group LLC restated a neutral rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded shares of First Industrial Realty Trust from a sell rating to a hold rating in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $31.67.

Shares of First Industrial Realty Trust (NYSE FR) opened at $31.57 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market cap of $3,783.57, a price-to-earnings ratio of 20.50 and a beta of 1.01. First Industrial Realty Trust has a 52-week low of $25.04 and a 52-week high of $31.91.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $98.38 million. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.54%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. sell-side analysts expect that First Industrial Realty Trust will post 1.55 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, December 28th. First Industrial Realty Trust’s payout ratio is presently 78.50%.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total value of $534,809.15. Following the sale, the director now owns 883,820 shares of the company’s stock, valued at approximately $28,043,608.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Harker sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $30.45, for a total transaction of $609,000.00. Following the completion of the sale, the executive vice president now directly owns 118,470 shares in the company, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,565 shares of company stock worth $2,194,718. 1.71% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its holdings in First Industrial Realty Trust by 1.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock worth $7,406,000 after acquiring an additional 2,757 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in First Industrial Realty Trust in the 2nd quarter worth $1,637,000. Legal & General Group Plc grew its holdings in First Industrial Realty Trust by 11.5% in the 2nd quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock worth $10,197,000 after acquiring an additional 36,713 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in First Industrial Realty Trust by 3.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock worth $21,180,000 after acquiring an additional 26,649 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in First Industrial Realty Trust by 10.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock worth $39,635,000 after acquiring an additional 128,673 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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