First Industrial Realty Trust (NYSE:FR) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of First Industrial Realty Trust (NYSE:FR) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other analysts also recently issued reports on the company. Robert W. Baird set a $65.00 price objective on First Industrial Realty Trust in a research report on Tuesday, February 17th. Citigroup lifted their price objective on First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 10th. Barclays reissued a “positive” rating and issued a $64.00 target price on shares of First Industrial Realty Trust in a research note on Tuesday, January 13th. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 13th. Finally, Mizuho raised their price target on shares of First Industrial Realty Trust from $56.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

First Industrial Realty Trust Stock Down 3.2%

First Industrial Realty Trust stock opened at $56.94 on Friday. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $64.01. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 30.61 and a beta of 1.11. The stock’s fifty day moving average is $59.83 and its two-hundred day moving average is $56.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 1.12.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, February 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). First Industrial Realty Trust had a net margin of 34.03% and a return on equity of 9.02%. The business had revenue of $188.41 million for the quarter, compared to analysts’ expectations of $186.20 million. During the same quarter last year, the business posted $0.71 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. First Industrial Realty Trust has set its FY 2026 guidance at 3.090-3.190 EPS. Analysts predict that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

First Industrial Realty Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 20th. Investors of record on Tuesday, March 31st will be given a $0.50 dividend. This is an increase from First Industrial Realty Trust’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.5%. First Industrial Realty Trust’s dividend payout ratio is 95.70%.

Institutional Investors Weigh In On First Industrial Realty Trust

Institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. increased its position in shares of First Industrial Realty Trust by 1.9% in 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 in the last quarter. AlphaQuest LLC increased its holdings in First Industrial Realty Trust by 0.5% in the 3rd quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock valued at $2,132,000 after purchasing an additional 193 shares in the last quarter. Global Retirement Partners LLC increased its holdings in First Industrial Realty Trust by 3.6% in the 3rd quarter. Global Retirement Partners LLC now owns 5,670 shares of the real estate investment trust’s stock valued at $292,000 after purchasing an additional 195 shares in the last quarter. Assetmark Inc. raised 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 purchasing an additional 198 shares during the period. Finally, Quadrant Capital Group LLC raised its position in First Industrial Realty Trust by 2.0% in the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock valued at $554,000 after purchasing an additional 211 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.