First Industrial Realty Trust (NYSE:FR) Raised to “Sector Weight” at KeyCorp

KeyCorp upgraded shares of First Industrial Realty Trust (NYSE:FR) from an underweight rating to a sector weight rating in a report released on Tuesday morning, MarketBeat.com reports.

A number of other research firms have also commented on FR. Wells Fargo & Company upped their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Mizuho upped their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Scotiabank lifted their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Barclays reduced their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and a consensus target price of $57.83.

First Industrial Realty Trust Stock Down 0.9 %

FR stock opened at $49.60 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $6.56 billion, a PE ratio of 21.29 and a beta of 1.07. First Industrial Realty Trust has a 12 month low of $45.10 and a 12 month high of $57.35. The firm has a 50 day simple moving average of $53.20 and a 200 day simple moving average of $52.72.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. Equities research analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

First Industrial Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 2.98%. First Industrial Realty Trust’s dividend payout ratio is currently 63.52%.

Institutional Trading of First Industrial Realty Trust

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. Stifel Financial Corp raised its holdings in First Industrial Realty Trust by 1.1% during the third quarter. Stifel Financial Corp now owns 25,899 shares of the real estate investment trust’s stock valued at $1,450,000 after buying an additional 278 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its position in shares of First Industrial Realty Trust by 4.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 6,472 shares of the real estate investment trust’s stock worth $307,000 after buying an additional 295 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 417 shares in the last quarter. Finally, Fortem Financial Group LLC increased its holdings in shares of First Industrial Realty Trust by 4.6% during the 2nd quarter. Fortem Financial Group LLC now owns 9,868 shares of the real estate investment trust’s stock valued at $469,000 after acquiring an additional 438 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading U.S.-only owner, operator, developer and acquirer of logistics properties. Through our fully integrated operating and investing platform, we provide high quality facilities and industry-leading customer service to multinational corporations and regional firms that are essential for their supply chains.