First Industrial Realty Trust (NYSE:FR) Price Target Raised to $65.00

First Industrial Realty Trust (NYSE:FR) had its target price boosted by Truist Financial from $60.00 to $65.00 in a research report released on Tuesday morning, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays reaffirmed a “positive” rating and issued a $64.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, January 13th. Industrial Alliance Securities set a $67.00 price objective on First Industrial Realty Trust in a research note on Monday, January 5th. Royal Bank Of Canada upped their price objective on First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research report on Friday, October 31st. Finally, Robert W. Baird set a $64.00 price target on shares of First Industrial Realty Trust in a research report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and an average price target of $62.46.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $57.22 on Tuesday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 31.96 and a beta of 1.14. The firm has a fifty day moving average price of $57.77 and a 200 day moving average price of $53.81. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $60.20. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st were given a $0.445 dividend. The ex-dividend date was 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 currently 99.44%.

Insiders Place Their Bets

In other First Industrial Realty Trust news, CIO Johannson L. Yap sold 680 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the transaction, the executive owned 3,770 shares in the company, valued at $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently made changes to their positions in FR. Measured Wealth Private Client Group LLC purchased a new stake in First Industrial Realty Trust in the 3rd quarter worth about $26,000. Mather Group LLC. bought a new position in shares of First Industrial Realty Trust during the third quarter valued at approximately $39,000. Elevation Point Wealth Partners LLC bought a new position in shares of First Industrial Realty Trust during the second quarter valued at approximately $40,000. SJS Investment Consulting Inc. purchased a new stake in shares of First Industrial Realty Trust in the third quarter worth approximately $47,000. Finally, Danske Bank A S bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $51,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.