First Industrial Realty Trust (NYSE:FR) Sets New 52-Week High – Time to Buy?

First Industrial Realty Trust, Inc. (NYSE:FR) shares reached a new 52-week high during trading on Monday . The company traded as high as $59.48 and last traded at $59.2640, with a volume of 31888 shares. The stock had previously closed at $59.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FR. JPMorgan Chase & Co. increased their price target on shares of First Industrial Realty Trust from $58.00 to $61.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group upped their price target on First Industrial Realty Trust from $53.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Mizuho lifted their price objective on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, January 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of First Industrial Realty Trust in a research note on Friday, October 31st. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $60.54.

First Industrial Realty Trust Price Performance

The firm has a market cap of $7.80 billion, a PE ratio of 32.90 and a beta of 1.14. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average price of $57.18 and a 200 day moving average price of $53.24.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $181.43 million during the quarter, compared to analysts’ expectations of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.First Industrial Realty Trust’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, sell-side analysts expect that First Industrial Realty Trust, Inc. will post 2.89 EPS for the current year.

First Industrial Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.0%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 99.44%.

Insider Activity at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the transaction, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. The trade was a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently bought and sold shares of FR. Crossmark Global Holdings Inc. increased its stake in First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 179 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of First Industrial Realty Trust by 0.5% during the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after acquiring an additional 193 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of First Industrial Realty Trust by 3.6% in the third quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock worth $292,000 after buying an additional 195 shares during the period. Assetmark Inc. grew its position in First Industrial Realty Trust by 7.1% in the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after acquiring an additional 198 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in First Industrial Realty Trust by 15.9% during the 2nd quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.