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

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

FR has been the subject of several other research reports. Jefferies Group raised First Industrial Realty Trust from a hold rating to a buy rating in a research note on Thursday, December 21st. ValuEngine cut First Industrial Realty Trust from a buy rating to a hold rating in a research note on Wednesday, December 20th. 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 research note on Friday, December 15th. SunTrust Banks reissued a buy rating and issued a $34.00 price target on shares of First Industrial Realty Trust in a research note on Friday, November 10th. Finally, Stifel Nicolaus boosted their price target on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a buy rating in a research note 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $32.29.

First Industrial Realty Trust (FR) traded down $0.03 during trading hours on Tuesday, reaching $29.81. The company’s stock had a trading volume of 540,546 shares, compared to its average volume of 689,489. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98. First Industrial Realty Trust has a 52 week low of $25.31 and a 52 week high of $32.91. The stock has a market cap of $3,580.00, a PE ratio of 27.86 and a beta of 1.03.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The company had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $98.38 million. During the same quarter in the previous year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts forecast that First Industrial Realty Trust will post 1.55 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.21 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 2.82%. First Industrial Realty Trust’s payout ratio is 78.50%.

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 transaction of $546,406.68. Following the completion of the sale, the director now owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce W. Duncan sold 16,855 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total value of $534,809.15. Following the sale, the director now directly owns 883,820 shares of the company’s stock, valued at approximately $28,043,608.60. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Riverhead Capital Management LLC boosted its position in First Industrial Realty Trust by 77.8% during the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,724 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in First Industrial Realty Trust during the third quarter worth approximately $213,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Industrial Realty Trust by 7.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,917 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 575 shares during the period. Shelton Capital Management bought a new stake in First Industrial Realty Trust during the second quarter worth approximately $233,000. Finally, Virtu KCG Holdings LLC boosted its position in First Industrial Realty Trust by 15.8% during the second quarter. Virtu KCG Holdings LLC now owns 10,323 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 1,405 shares during the period. 92.88% of the stock is owned by hedge funds and other 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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