First Industrial Realty Trust (NYSE:FR) Reaches New 1-Year High – Time to Buy?

First Industrial Realty Trust, Inc. (NYSE:FR) shares hit a new 52-week high during trading on Friday . The company traded as high as $60.79 and last traded at $60.0480, with a volume of 20847 shares traded. The stock had previously closed at $59.75.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FR shares. Industrial Alliance Securities set a $67.00 price objective on shares of First Industrial Realty Trust in a report on Monday, January 5th. Barclays restated a “positive” rating and issued a $64.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, January 13th. Scotiabank boosted their price objective on First Industrial Realty Trust from $57.00 to $62.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Truist Financial raised their target price on First Industrial Realty Trust from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Mizuho raised their price target on First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.92.

First Industrial Realty Trust Trading Down 0.5%

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 stock has a market capitalization of $7.87 billion, a P/E ratio of 31.91 and a beta of 1.14. The firm’s 50-day simple moving average is $58.09 and its 200 day simple moving average is $54.42.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The business had revenue of $188.41 million during the quarter, compared to the consensus estimate of $186.20 million. First Industrial Realty Trust had a return on equity of 9.03% and a net margin of 34.03%.The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. Equities research analysts anticipate that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, March 31st. This is a positive change from First Industrial Realty Trust’s previous quarterly dividend of $0.45. First Industrial Realty Trust’s payout ratio is presently 99.44%.

Insider Activity

In other news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive directly owned 3,770 shares of the company’s stock, valued at $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.06% of the stock is owned by company insiders.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of FR. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock worth $560,443,000 after purchasing an additional 9,784,830 shares in the last quarter. Norges Bank acquired a new position in First Industrial Realty Trust in the second quarter worth approximately $272,085,000. Invesco Ltd. increased its holdings in First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after buying an additional 323,248 shares during the last quarter. Prudential Financial Inc. lifted its stake in First Industrial Realty Trust by 29.0% in the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust’s stock valued at $137,215,000 after acquiring an additional 588,208 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in First Industrial Realty Trust by 70.8% in the third quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock worth $128,581,000 after acquiring an additional 1,035,385 shares in 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 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.