Brokerages Set First Industrial Realty Trust, Inc. (NYSE:FR) Price Target at $64.29

First Industrial Realty Trust, Inc. (NYSE:FR) has received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $64.2857.

A number of research firms recently weighed in on FR. Robert W. Baird upped their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of First Industrial Realty Trust in a report on Thursday, June 18th. Wells Fargo & Company decreased their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Finally, KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds have recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC purchased a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $26,000. Parallel Advisors LLC increased its stake in shares of First Industrial Realty Trust by 86.9% during the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 291 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of First Industrial Realty Trust by 64.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 301 shares in the last quarter. Danske Bank A S acquired a new position in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $51,000. Finally, Parkside Financial Bank & Trust raised its position in shares of First Industrial Realty Trust by 27.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 262 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Trading Down 0.1%

Shares of First Industrial Realty Trust stock opened at $68.82 on Friday. The company has a 50-day moving average of $62.88 and a two-hundred day moving average of $60.99. First Industrial Realty Trust has a 12-month low of $47.38 and a 12-month high of $69.88. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The stock has a market cap of $9.12 billion, a PE ratio of 26.67 and a beta of 1.05.

First Industrial Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. First Industrial Realty Trust’s dividend payout ratio is presently 77.52%.

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.