First Industrial Realty Trust (NYSE:FR) Reaches New 1-Year High on Analyst Upgrade

First Industrial Realty Trust, Inc. (NYSE:FR)’s stock price hit a new 52-week high during mid-day trading on Friday after Mizuho raised their price target on the stock from $56.00 to $62.00. Mizuho currently has an outperform rating on the stock. First Industrial Realty Trust traded as high as $58.42 and last traded at $58.14, with a volume of 1093748 shares traded. The stock had previously closed at $56.77.

Several other equities analysts have also issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of First Industrial Realty Trust in a report on Friday, October 31st. Wells Fargo & Company lifted their price objective 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. The Goldman Sachs Group upped their target price on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Cantor Fitzgerald began coverage on First Industrial Realty Trust in a report on Wednesday, October 1st. They set a “neutral” rating and a $55.00 price target on the stock. Finally, Barclays set a $54.00 price target on First Industrial Realty Trust in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and an average target price of $57.85.

Hedge Funds Weigh In On First Industrial Realty Trust

Several hedge funds have recently added to or reduced their stakes in the business. Hunter Perkins Capital Management LLC bought a new position in shares of First Industrial Realty Trust during the second quarter valued at approximately $746,000. FJ Capital Management LLC boosted its position in First Industrial Realty Trust by 76.8% during the 1st quarter. FJ Capital Management LLC now owns 38,445 shares of the real estate investment trust’s stock valued at $2,074,000 after purchasing an additional 16,704 shares during the period. Liberty One Investment Management LLC grew its stake in First Industrial Realty Trust by 6.4% during the 2nd quarter. Liberty One Investment Management LLC now owns 97,647 shares of the real estate investment trust’s stock worth $4,700,000 after buying an additional 5,835 shares during the last quarter. Graham Capital Management L.P. grew its stake in First Industrial Realty Trust by 149.2% during the 1st quarter. Graham Capital Management L.P. now owns 30,754 shares of the real estate investment trust’s stock worth $1,659,000 after buying an additional 18,413 shares during the last quarter. Finally, Jane Street Group LLC increased its position in First Industrial Realty Trust by 2,777.7% in the 1st quarter. Jane Street Group LLC now owns 322,595 shares of the real estate investment trust’s stock valued at $17,407,000 after acquiring an additional 311,385 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Stock Up 2.3%

The stock has a market cap of $7.69 billion, a P/E ratio of 32.45 and a beta of 1.13. The firm has a 50 day simple moving average of $54.79 and a two-hundred day simple moving average of $51.59. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The company had revenue of $181.43 million during the quarter, compared to the consensus estimate of $182.63 million. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s quarterly revenue 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. Equities research analysts predict that First Industrial Realty Trust, Inc. will post 2.89 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a yield of 3.1%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 99.44%.

About First Industrial Realty Trust

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.