Robert W. Baird Reaffirms “Hold” Rating for First Industrial Realty Trust (FR)

Robert W. Baird restated their hold rating on shares of First Industrial Realty Trust (NYSE:FR) in a research report released on Tuesday morning. The firm currently has a $31.00 target price on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on the stock. Jefferies Group upgraded shares of First Industrial Realty Trust from a hold rating to a buy rating in a report on Thursday, December 21st. ValuEngine lowered shares of First Industrial Realty Trust from a buy rating to a hold rating in a report on Wednesday, December 20th. JPMorgan Chase & Co. lowered shares of First Industrial Realty Trust from a neutral rating to an underweight rating and set a $31.00 target price on the stock. in a report on Friday, December 15th. SunTrust Banks reiterated a buy rating and set a $34.00 target price on shares of First Industrial Realty Trust in a report on Friday, November 10th. Finally, Stifel Nicolaus increased their target price on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the stock a buy rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $32.29.

Shares of First Industrial Realty Trust (NYSE:FR) traded down $0.03 during mid-day trading on Tuesday, hitting $29.81. 540,546 shares of the stock traded hands, compared to its average volume of 851,268. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a 52-week low of $25.31 and a 52-week high of $32.91. The firm has a market cap of $3,570.00, a price-to-earnings ratio of 27.86 and a beta of 1.03.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.16 by $0.25. The firm had revenue of $99.30 million for the quarter, compared to analyst estimates of $98.38 million. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.54%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. analysts forecast that First Industrial Realty Trust will post 1.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a yield of 2.82%. First Industrial Realty Trust’s dividend payout ratio (DPR) is presently 78.50%.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,854 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the sale, the director now directly owns 866,966 shares of the company’s stock, valued at approximately $28,107,037.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $31.73, for a total transaction of $534,809.15. Following the completion of the sale, the director now directly owns 883,820 shares in the company, valued at $28,043,608.60. The disclosure for this sale can be found here. 1.71% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. State Street Corp increased its position in shares of First Industrial Realty Trust by 2.9% in the 2nd quarter. State Street Corp now owns 5,558,921 shares of the real estate investment trust’s stock valued at $159,093,000 after purchasing an additional 154,676 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of First Industrial Realty Trust by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock valued at $133,874,000 after purchasing an additional 150,162 shares during the last quarter. Northern Trust Corp increased its position in shares of First Industrial Realty Trust by 3.5% in the 2nd quarter. Northern Trust Corp now owns 3,322,800 shares of the real estate investment trust’s stock valued at $95,098,000 after purchasing an additional 112,948 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of First Industrial Realty Trust by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,244,687 shares of the real estate investment trust’s stock valued at $97,632,000 after purchasing an additional 83,863 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of First Industrial Realty Trust by 5.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,342,014 shares of the real estate investment trust’s stock valued at $70,473,000 after purchasing an additional 114,605 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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