In yesterday’s Wall Street session, First Industrial Realty Trust Inc. (NYSE:FR) shares traded at $48.00, down -0.54% from the previous session.
As of this writing, 14 analysts cover First Industrial Realty Trust Inc. (NYSE:FR). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $49.00, we find $56.50. Given the previous closing price of $48.26, this indicates a potential upside of 17.07 percent. FR stock price is now -0.83% away from the 50-day moving average and -6.85% away from the 200-day moving average. The market capitalization of the company currently stands at $6.40B.
There are 6 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $56.50 as their price target over the next twelve months.
With the price target enhanced from $53 to $56, JP Morgan Upgraded its rating from Neutral to Overweight for First Industrial Realty Trust Inc. (NYSE: FR). On January 13, 2022, Mizuho Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock increasing its target price from $54 to quote $64, while ‘Berenberg’ rates the stock as ‘Buy’.
A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FR stock. A new stake in First Industrial Realty Trust Inc. shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $56,620,000. JACOBS LEVY EQUITY MANAGEMENT, INC invested $17,918,000 in shares of FR during the first quarter. In the first quarter, LONG POND CAPITAL, LP acquired a new stake in First Industrial Realty Trust Inc. valued at approximately $14,900,000. WESTWOOD HOLDINGS GROUP INC acquired a new stake in FR for approximately $11,212,000. GREAT WEST LIFE ASSURANCE CO /CAN/ purchased a new stake in FR valued at around $9,711,000 in the second quarter.
Tuesday morning saw First Industrial Realty Trust Inc. (NYSE: FR) opened at $48.73. During the past 12 months, First Industrial Realty Trust Inc. has had a low of $42.91 and a high of $66.74. The fifty day moving average price for FR is $48.40 and a two-hundred day moving average price translates $51.53 for the stock.
The latest earnings results from First Industrial Realty Trust Inc. (NYSE: FR) was released for Sep, 2022. According to the REIT – Industrial Company, earnings per share came in at $0.94, beating analysts’ expectations of $0.27 by 0.67. This compares to $0.33 EPS in the same period last year. The net profit margin was 75.70% and return on equity was 17.10% for FR. The company reported revenue of $139.75 million for the quarter, compared to $121.08 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.42 percent. For the current quarter, analysts expect FR to generate $138.3M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/17/2023. Investors who held shares on 12/31/2022 were paid a $0.295 dividend. On an annualized basis, this represents a $1.18 dividend and a 2.46% percent yield. There was an ex-dividend date of 12/29/2022 for this dividend. In terms of dividend payout ratio, FR is presently at 38.90%.
First Industrial Realty Trust Inc.(FR) Company Profile
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. In total, we own and have under development approximately 64.1 million square feet of industrial space as of September 30, 2020.