First Industrial Realty Trust (NYSE:FR) Cut to “Neutral” at Wedbush

Wedbush downgraded shares of First Industrial Realty Trust (NYSE:FR) from an outperform rating to a neutral rating in a research report released on Thursday, MarketBeat reports. Wedbush currently has $49.00 price target on the real estate investment trust’s stock, down from their previous price target of $59.00. Wedbush also issued estimates for First Industrial Realty Trust’s FY2024 earnings at $2.58 EPS and FY2025 earnings at $2.84 EPS.

A number of other equities analysts have also recently commented on FR. TheStreet raised First Industrial Realty Trust from a c+ rating to a b- rating in a report on Thursday, January 11th. JPMorgan Chase & Co. decreased their price objective on First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating on the stock in a research note on Wednesday. Mizuho reiterated a buy rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Truist Financial raised their target price on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Finally, Barclays reiterated an equal weight rating and issued a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a research report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $53.11.

First Industrial Realty Trust Stock Down 0.1 %

Shares of FR stock opened at $46.00 on Thursday. The company has a 50 day simple moving average of $51.55 and a two-hundred day simple moving average of $49.88. The stock has a market cap of $6.09 billion, a P/E ratio of 21.20 and a beta of 1.01. First Industrial Realty Trust has a 12 month low of $40.44 and a 12 month high of $55.22. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.37 per share. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, March 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.22%. First Industrial Realty Trust’s dividend payout ratio is currently 68.20%.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of FR. Farmers & Merchants Investments Inc. increased its stake in First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 469 shares during the last quarter. Mather Group LLC. bought a new stake in First Industrial Realty Trust in the first quarter worth $50,000. EdgeRock Capital LLC bought a new stake in First Industrial Realty Trust in the fourth quarter worth $56,000. C M Bidwell & Associates Ltd. raised its stake in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in First Industrial Realty Trust during the fourth quarter valued at $82,000. 99.85% of the stock is currently 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.