First Industrial Realty Trust (NYSE:FR) Given New $56.00 Price Target at Barclays

First Industrial Realty Trust (NYSE:FR) had its price objective upped by Barclays from $52.00 to $56.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the company. Wolfe Research raised First Industrial Realty Trust from a peer perform rating to an outperform rating and set a $64.00 price objective for the company in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an equal weight rating in a research note on Wednesday, August 28th. Truist Financial raised their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the company a buy rating in a research report on Monday, August 5th. Finally, Mizuho upped their price objective on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an outperform rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, First Industrial Realty Trust has a consensus rating of Moderate Buy and a consensus price target of $57.92.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $54.56 on Thursday. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $57.35. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.83. The firm’s fifty day simple moving average is $55.20 and its 200 day simple moving average is $51.12. The stock has a market cap of $7.22 billion, a P/E ratio of 25.14 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that First Industrial Realty Trust will post 2.62 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Monday, September 30th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, September 30th. First Industrial Realty Trust’s dividend payout ratio is presently 68.20%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. grew its holdings in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 469 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 200 shares during the period. UMB Bank n.a. boosted its stake in shares of First Industrial Realty Trust by 116.2% in the 3rd quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 466 shares in the last quarter. Mather Group LLC. bought a new position in First Industrial Realty Trust during the 1st quarter worth $50,000. Finally, GAMMA Investing LLC increased its stake in shares of First Industrial Realty Trust by 132.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,103 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 629 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.