First Industrial Realty Trust (NYSE:FR) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of First Industrial Realty Trust (NYSE:FR – Get Rating) in a research note released on Thursday. The brokerage issued a hold rating on the real estate investment trust’s stock.

FR has been the subject of a number of other reports. JPMorgan Chase & Co. raised First Industrial Realty Trust from a neutral rating to an overweight rating and increased their target price for the stock from $53.00 to $56.00 in a research note on Friday, December 16th. Truist Financial increased their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock a buy rating in a research note on Tuesday, February 21st. Finally, Royal Bank of Canada reissued an outperform rating and set a $65.00 target price on shares of First Industrial Realty Trust in a research note on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $61.25.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $50.79 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $6.71 billion, a PE ratio of 18.74 and a beta of 0.97. The stock has a 50-day moving average of $52.59 and a 200-day moving average of $49.75. First Industrial Realty Trust has a one year low of $42.91 and a one year high of $65.92.

First Industrial Realty Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Shareholders of record on Friday, March 31st will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, March 30th. This represents a $1.28 dividend on an annualized basis and a yield of 2.52%. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.30. First Industrial Realty Trust’s dividend payout ratio is 43.54%.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of First Industrial Realty Trust by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 19,454,712 shares of the real estate investment trust’s stock valued at $871,765,000 after buying an additional 210,948 shares during the last quarter. State Street Corp boosted its holdings in shares of First Industrial Realty Trust by 0.3% in the 2nd quarter. State Street Corp now owns 7,145,967 shares of the real estate investment trust’s stock valued at $341,325,000 after buying an additional 19,586 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of First Industrial Realty Trust by 1,737.8% in the 3rd quarter. Nomura Holdings Inc. now owns 4,996,269 shares of the real estate investment trust’s stock valued at $223,956,000 after buying an additional 4,724,410 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of First Industrial Realty Trust by 5.9% in the 4th quarter. Centersquare Investment Management LLC now owns 3,862,202 shares of the real estate investment trust’s stock valued at $186,390,000 after buying an additional 214,663 shares during the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in shares of First Industrial Realty Trust by 80.9% in the 3rd quarter. Cohen & Steers Inc. now owns 3,845,886 shares of the real estate investment trust’s stock valued at $172,334,000 after buying an additional 1,719,882 shares during the last quarter. Institutional investors and hedge funds own 98.00% of the company’s stock.

About First Industrial Realty Trust

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First Industrial Realty Trust, Inc engages in the ownership, management, acquisition, sale, development, and redevelopment of industrial real estate. The firm product portfolio includes bulk warehouse, regional warehouse, R&D/flex, and light industrial properties. The company was founded by Johannson L.