First Industrial Realty Trust, Inc. (FR) Receives $32.00 Average Price Target from Analysts
Shares of First Industrial Realty Trust, Inc. (NYSE:FR) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $32.00.
FR has been the subject of several research analyst reports. SunTrust Banks reissued a “buy” rating and set a $32.00 price objective on shares of First Industrial Realty Trust in a research report on Friday, October 27th. Stifel Nicolaus boosted their price objective on First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. JPMorgan Chase & Co. cut First Industrial Realty Trust from a “neutral” rating to an “underweight” rating and set a $31.00 price target for the company. in a report on Friday, December 15th. ValuEngine cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th.
In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the completion of the transaction, the director now owns 866,966 shares of the company’s stock, valued at approximately $28,107,037.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.71% of the company’s stock.
First Industrial Realty Trust (NYSE FR) traded down $0.42 during midday trading on Friday, hitting $28.68. The company had a trading volume of 1,521,870 shares, compared to its average volume of 822,351. First Industrial Realty Trust has a fifty-two week low of $25.56 and a fifty-two week high of $32.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a market cap of $3,633.76, a PE ratio of 26.80 and a beta of 0.89.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.21 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.84 annualized dividend and a yield of 2.93%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 78.50%.
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About First Industrial Realty Trust
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
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