First Industrial Realty Trust (NYSE:FR) Stock Gets Price Target Reduction from Cantor Fitzgerald

First Industrial Realty Trust (NYSE:FR) had its price objective trimmed by Cantor Fitzgerald from $71.00 to $58.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. Raymond James Financial downgraded First Industrial Realty Trust from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $86.00 to $71.00 in a research note on Friday, October 23rd. Scotiabank boosted their price objective on First Industrial Realty Trust from $63.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 12th. Truist Financial boosted their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Robert W. Baird increased their target price on shares of First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada raised their target price on shares of First Industrial Realty Trust from $68.00 to $75.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.21.

First Industrial Realty Trust Trading Down 1.5%

Shares of First Industrial Realty Trust stock opened at $54.32 on Monday. The company’s fifty day simple moving average is $60.32 and its 200-day simple moving average is $61.38. The stock has a market capitalization of $7.20 billion, a PE ratio of 20.19 and a beta of 1.03. First Industrial Realty Trust has a 1-year low of $54.16 and a 1-year high of $69.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.06 and a quick ratio of 1.06.

First Industrial Realty Trust (NYSE:FR) last issued 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 for the quarter, compared to the consensus estimate of $196.41 million. First Industrial Realty Trust had a net margin of 46.12% and a return on equity of 12.60%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. As a group, equities analysts anticipate that First Industrial Realty Trust will post 3.16 earnings per share for the current year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Shareholders of record on Wednesday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.7%. First Industrial Realty Trust’s payout ratio is presently 74.35%.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its position in shares of First Industrial Realty Trust by 2.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in First Industrial Realty Trust by 4.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 183 shares during the last quarter. Arizona State Retirement System increased its position in First Industrial Realty Trust by 0.6% in the second quarter. Arizona State Retirement System now owns 36,580 shares of the real estate investment trust’s stock worth $2,243,000 after purchasing an additional 207 shares during the last quarter. North Dakota State Investment Board increased its position in First Industrial Realty Trust by 6.1% in the third quarter. North Dakota State Investment Board now owns 4,039 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 233 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in First Industrial Realty Trust by 2.9% in the third quarter. Versant Capital Management Inc now owns 8,525 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 242 shares during the last quarter. 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 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.