First Industrial Realty Trust, Inc. (NYSE:FR) has earned an average rating of “Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.13.
FR has been the topic of a number of research reports. Goldman Sachs Group initiated coverage on Liberty Property Trust in a report on Wednesday, May 15th. They issued a “neutral” rating and a $49.00 price objective on the stock. Zacks Investment Research lowered Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, June 27th.
First Industrial Realty Trust stock traded down $0.85 during midday trading on Friday, reaching $36.88. The company’s stock had a trading volume of 788,228 shares, compared to its average volume of 757,662. The stock’s 50-day simple moving average is $36.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.93 and a quick ratio of 0.93. First Industrial Realty Trust has a 52-week low of $27.30 and a 52-week high of $38.10. The firm has a market capitalization of $4.77 billion, a PE ratio of 23.05, a P/E/G ratio of 3.46 and a beta of 0.73.
First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). First Industrial Realty Trust had a net margin of 36.88% and a return on equity of 9.05%. The business had revenue of $104.50 million during the quarter, compared to analysts’ expectations of $104.68 million. During the same quarter last year, the business posted $0.38 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that First Industrial Realty Trust will post 1.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Thursday, June 27th. First Industrial Realty Trust’s dividend payout ratio is presently 57.50%.
Several hedge funds have recently made changes to their positions in FR. BlackRock Inc. grew its holdings in First Industrial Realty Trust by 10.3% during the first quarter. BlackRock Inc. now owns 21,236,093 shares of the real estate investment trust’s stock worth $750,907,000 after acquiring an additional 1,981,659 shares during the period. Norges Bank acquired a new stake in First Industrial Realty Trust during the fourth quarter worth about $41,197,000. Macquarie Group Ltd. grew its holdings in First Industrial Realty Trust by 18.4% during the fourth quarter. Macquarie Group Ltd. now owns 2,303,636 shares of the real estate investment trust’s stock worth $66,483,000 after acquiring an additional 357,946 shares during the period. Principal Financial Group Inc. grew its holdings in First Industrial Realty Trust by 7.2% during the first quarter. Principal Financial Group Inc. now owns 4,489,314 shares of the real estate investment trust’s stock worth $158,741,000 after acquiring an additional 302,461 shares during the period. Finally, Millennium Management LLC grew its holdings in First Industrial Realty Trust by 140.2% during the fourth quarter. Millennium Management LLC now owns 505,048 shares of the real estate investment trust’s stock worth $14,576,000 after acquiring an additional 294,779 shares during the period. 93.17% of the stock is currently owned by institutional investors and hedge funds.
First Industrial Realty Trust Company Profile
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
See Also: Google Finance Portfolio
Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.