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

Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $32.00.

Several equities research analysts recently weighed in on the company. Robert W. Baird reissued a “hold” rating and set a $31.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. Stifel Nicolaus raised their price objective on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. Jefferies Group reissued a “hold” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a report on Friday, November 24th. SunTrust Banks reissued a “buy” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. downgraded First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price objective on the stock. in a report on Friday, December 15th.

Shares of First Industrial Realty Trust (NYSE FR) opened at $30.32 on Friday. The firm has a market capitalization of $3,698.48 and a price-to-earnings ratio of 28.34. First Industrial Realty Trust has a twelve month low of $25.56 and a twelve month high of $32.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, December 28th. First Industrial Realty Trust’s dividend payout ratio (DPR) is 78.50%.

In related news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the transaction, the director now directly owns 883,820 shares of the company’s stock, valued at approximately $28,043,608.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce W. Duncan sold 16,854 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the transaction, the director now directly owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. bought a new position in First Industrial Realty Trust during the 3rd quarter worth $213,000. Shelton Capital Management bought a new position in First Industrial Realty Trust during the 2nd quarter worth $233,000. Lourd Capital LLC bought a new position in First Industrial Realty Trust during the 4th quarter worth $244,000. Virtu KCG Holdings LLC raised its position in First Industrial Realty Trust by 15.8% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 1,405 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in First Industrial Realty Trust during the 3rd quarter worth $307,000. 93.18% of the stock is owned by institutional investors and hedge funds.

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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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