First Industrial Realty Trust, Inc. (NYSE:FR) Stock Has Average Price Target of $69.00

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $68.07.

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of First Industrial Realty Trust from $63.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. The Goldman Sachs Group dropped their price target on First Industrial Realty Trust from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Friday. Raymond James Financial restated an “outperform” rating and issued a $71.00 price target (down from $86.00) on shares of First Industrial Realty Trust in a research note on Friday. Barclays raised their price objective on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings lowered First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th.

First Industrial Realty Trust Stock Performance

FR opened at $55.21 on Friday. The business has a 50 day moving average of $60.48 and a 200-day moving average of $61.41. First Industrial Realty Trust has a 52 week low of $54.20 and a 52 week high of $69.88.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). The business had revenue of $197.12 million during the quarter, compared to analyst estimates of $196.41 million. During the same period last year, the business posted $0.76 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts expect that First Industrial Realty Trust will post 3.16 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Wednesday, September 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of the company. North Dakota State Investment Board grew its holdings in shares of First Industrial Realty Trust by 6.1% during the third quarter. North Dakota State Investment Board now owns 4,039 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 233 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of First Industrial Realty Trust by 1.5% during the third quarter. Asset Management One Co. Ltd. now owns 231,976 shares of the real estate investment trust’s stock valued at $13,812,000 after acquiring an additional 3,486 shares in the last quarter. Signaturefd LLC increased its position in shares of First Industrial Realty Trust by 41.0% during the third quarter. Signaturefd LLC now owns 5,633 shares of the real estate investment trust’s stock valued at $335,000 after acquiring an additional 1,637 shares in the last quarter. Inspire Investing LLC raised its holdings in First Industrial Realty Trust by 1.7% in the 3rd quarter. Inspire Investing LLC now owns 18,327 shares of the real estate investment trust’s stock worth $1,091,000 after acquiring an additional 302 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in First Industrial Realty Trust by 66.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,737 shares of the real estate investment trust’s stock worth $344,000 after acquiring an additional 2,289 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.