First Industrial Realty Trust, Inc. (FR) Given Average Rating of “Buy” by Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have received an average recommendation of “Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $31.60.

A number of equities analysts have recently issued reports on the stock. ValuEngine raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. SunTrust Banks, Inc. reissued a “buy” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, November 10th. Stifel Nicolaus raised their price target on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research report on Tuesday, October 24th.

In related news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $31.50, for a total value of $530,932.50. Following the transaction, the director now owns 917,530 shares of the company’s stock, valued at approximately $28,902,195. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders sold 50,565 shares of company stock worth $1,585,718. 1.71% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. State Street Corp increased its stake in First Industrial Realty Trust by 2.9% in the 2nd quarter. State Street Corp now owns 5,558,921 shares of the real estate investment trust’s stock valued at $159,093,000 after buying an additional 154,676 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of First Industrial Realty Trust by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock worth $133,874,000 after purchasing an additional 150,162 shares during the last quarter. Northern Trust Corp increased its stake in shares of First Industrial Realty Trust by 3.5% during the 2nd quarter. Northern Trust Corp now owns 3,322,800 shares of the real estate investment trust’s stock worth $95,098,000 after purchasing an additional 112,948 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Industrial Realty Trust by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,244,687 shares of the real estate investment trust’s stock worth $97,632,000 after purchasing an additional 83,863 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of First Industrial Realty Trust by 5.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,342,014 shares of the real estate investment trust’s stock worth $70,473,000 after purchasing an additional 114,605 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

First Industrial Realty Trust (NYSE:FR) opened at $32.13 on Monday. The stock has a market cap of $3,850.68, a PE ratio of 20.86 and a beta of 1.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 1 year low of $25.31 and a 1 year high of $32.47.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. The company had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $98.38 million. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.54%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 EPS. research analysts forecast that First Industrial Realty Trust will post 1.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a yield of 2.61%. First Industrial Realty Trust’s payout ratio is 78.50%.

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About First Industrial Realty Trust

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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