First Industrial Realty Trust (NYSE:FR) Given New $63.00 Price Target at Truist Financial

First Industrial Realty Trust (NYSE:FR – Get Rating) had its target price trimmed by Truist Financial from $66.00 to $63.00 in a report published on Monday, The Fly reports.

Separately, StockNews.com began coverage on shares of First Industrial Realty Trust in a research note on Thursday, March 31st. They issued a hold rating on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, First Industrial Realty Trust has a consensus rating of Buy and an average target price of $52.73.

Shares of NYSE:FR opened at $51.06 on Monday. First Industrial Realty Trust has a one year low of $49.11 and a one year high of $66.74. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 27.30 and a beta of 0.93. The company has a 50-day simple moving average of $59.35 and a 200-day simple moving average of $60.41. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.73 and a current ratio of 0.73.

First Industrial Realty Trust (NYSE:FR – Get Rating) last posted its quarterly earnings data on Wednesday, April 20th. The real estate investment trust reported $0.27 EPS for the quarter, beating the consensus estimate of $0.26 by $0.01. First Industrial Realty Trust had a return on equity of 11.40% and a net margin of 50.47%. The firm had revenue of $125.50 million during the quarter, compared to the consensus estimate of $123.45 million. During the same period in the prior year, the business earned $0.46 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. As a group, research analysts forecast that First Industrial Realty Trust will post 2.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Thursday, June 30th will be issued a $0.295 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.31%. First Industrial Realty Trust’s dividend payout ratio is presently 63.10%.

Several hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its position in shares of First Industrial Realty Trust by 15.5% in the 4th quarter. Russell Investments Group Ltd. now owns 715,410 shares of the real estate investment trust’s stock worth $47,340,000 after buying an additional 95,774 shares in the last quarter. California Public Employees Retirement System grew its position in shares of First Industrial Realty Trust by 2.0% in the third quarter. California Public Employees Retirement System now owns 295,382 shares of the real estate investment trust’s stock valued at $15,383,000 after purchasing an additional 5,887 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of First Industrial Realty Trust by 10.8% during the 4th quarter. State of Alaska Department of Revenue now owns 180,303 shares of the real estate investment trust’s stock worth $11,934,000 after purchasing an additional 17,578 shares in the last quarter. Strs Ohio raised its position in shares of First Industrial Realty Trust by 23.7% during the 4th quarter. Strs Ohio now owns 178,118 shares of the real estate investment trust’s stock worth $11,791,000 after purchasing an additional 34,079 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in First Industrial Realty Trust in the 3rd quarter valued at approximately $230,000. Institutional investors own 96.39% of the company’s stock.

About First Industrial Realty Trust (Get Rating)

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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