First Industrial Realty Trust (NYSE:FR) Hits New 52-Week High – Here’s Why

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $58.79 and last traded at $58.6190, with a volume of 888345 shares changing hands. The stock had previously closed at $57.22.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FR shares. Barclays set a $54.00 price objective on First Industrial Realty Trust in a research note on Monday, November 3rd. UBS Group set a $62.00 price target on shares of First Industrial Realty Trust in a research note on Thursday, December 4th. Cantor Fitzgerald initiated coverage on shares of First Industrial Realty Trust in a research report on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 price objective on the stock. The Goldman Sachs Group raised their price objective 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. Finally, Royal Bank Of Canada boosted their target price on shares of First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $57.85.

First Industrial Realty Trust Trading Up 2.4%

The company has a market cap of $7.76 billion, a price-to-earnings ratio of 32.75 and a beta of 1.13. 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 business’s fifty day simple moving average is $55.28 and its two-hundred day simple moving average is $51.84.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $181.43 million during the quarter, compared to analysts’ expectations of $182.63 million. First Industrial Realty Trust had a net margin of 33.18% and a return on equity of 8.65%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, equities analysts predict that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

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

Institutional Trading of First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at approximately $272,085,000. Rush Island Management LP purchased a new stake in First Industrial Realty Trust in the 2nd quarter valued at $79,904,000. Cbre Investment Management Listed Real Assets LLC boosted its stake in First Industrial Realty Trust by 381.2% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,070,197 shares of the real estate investment trust’s stock worth $111,708,000 after purchasing an additional 1,639,952 shares during the period. PGGM Investments purchased a new position in First Industrial Realty Trust during the 2nd quarter worth $77,038,000. Finally, AQR Capital Management LLC grew its position in First Industrial Realty Trust by 491.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after purchasing an additional 1,541,778 shares during the last quarter. 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 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.