First Industrial Realty Trust (NYSE:FR) Hits New 12-Month High – Time to Buy?

First Industrial Realty Trust, Inc. (NYSE:FR)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $65.01 and last traded at $61.44, with a volume of 104 shares changing hands. The stock had previously closed at $61.52.

Wall Street Analysts Forecast Growth

FR has been the topic of several analyst reports. Royal Bank Of Canada boosted their price objective on shares of First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Citigroup raised their price objective on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Finally, Truist Financial lifted their price objective on First Industrial Realty Trust from $66.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $63.64.

First Industrial Realty Trust Price Performance

The business has a 50-day moving average price of $60.64 and a two-hundred day moving average price of $59.08. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 23.83 and a beta of 1.07.

First Industrial Realty Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 77.52%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Stockton bought a new stake in First Industrial Realty Trust during the third quarter worth $946,000. Citadel Advisors LLC lifted its stake in First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after acquiring an additional 1,035,385 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in First Industrial Realty Trust by 3.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 2,134,890 shares of the real estate investment trust’s stock worth $109,883,000 after acquiring an additional 63,112 shares during the last quarter. Inscription Capital LLC boosted its holdings in First Industrial Realty Trust by 391.4% during the 3rd quarter. Inscription Capital LLC now owns 22,641 shares of the real estate investment trust’s stock worth $1,165,000 after acquiring an additional 18,034 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of First Industrial Realty Trust in the 3rd quarter worth $20,172,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.