First Industrial Realty Trust (NYSE:FR) Rating Increased to Buy at Mizuho

by · The Cerbat Gem

Mizuho upgraded shares of First Industrial Realty Trust (NYSE:FR – Free Report) from a neutral rating to a buy rating in a report issued on Tuesday morning, MarketBeat.com reports. Mizuho currently has $55.00 target price on the real estate investment trust’s stock.

Several other equities research analysts have also issued reports on FR. BMO Capital Markets reissued a market perform rating on shares of First Industrial Realty Trust in a research note on Thursday, September 14th. StockNews.com initiated coverage on First Industrial Realty Trust in a research report on Thursday, October 5th. They set a hold rating on the stock. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $47.00 to $41.00 and set a sell rating on the stock in a research report on Tuesday, October 24th. Wedbush initiated coverage on First Industrial Realty Trust in a research report on Tuesday, October 3rd. They set an outperform rating and a $55.00 price target on the stock. Finally, Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $48.00 and set a buy rating on the stock in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of Hold and an average price target of $53.56.

Get Our Latest Analysis on FR

First Industrial Realty Trust Price Performance

NYSE:FR opened at $49.46 on Tuesday. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 24.49 and a beta of 1.03. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.51. The stock has a fifty day moving average of $44.93 and a 200 day moving average of $49.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.90.

First Industrial Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.59%. First Industrial Realty Trust’s dividend payout ratio is currently 63.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of First Industrial Realty Trust by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 19,203,142 shares of the real estate investment trust’s stock worth $1,188,867,000 after purchasing an additional 338,812 shares in the last quarter. State Street Corp boosted its stake in First Industrial Realty Trust by 1.1% during the 1st quarter. State Street Corp now owns 7,315,813 shares of the real estate investment trust’s stock valued at $391,494,000 after purchasing an additional 79,479 shares during the last quarter. Cohen & Steers Inc. boosted its stake in First Industrial Realty Trust by 24.7% during the 2nd quarter. Cohen & Steers Inc. now owns 3,168,619 shares of the real estate investment trust’s stock valued at $166,796,000 after purchasing an additional 626,806 shares during the last quarter. Nomura Holdings Inc. boosted its stake in First Industrial Realty Trust by 192.7% during the 1st quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock valued at $164,296,000 after purchasing an additional 2,033,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in First Industrial Realty Trust by 5.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock valued at $143,943,000 after purchasing an additional 158,722 shares during the last quarter. Hedge funds and other institutional investors own 98.36% of the company’s stock.

About First Industrial Realty Trust

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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.

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