SunTrust Banks, Inc. reiterated their buy rating on shares of First Industrial Realty Trust, Inc. (NYSE:FR) in a research note published on Friday. SunTrust Banks, Inc. currently has a $32.00 price target on the real estate investment trust’s stock.

Several other research firms also recently weighed in on FR. Stifel Nicolaus reiterated a buy rating and set a $31.50 target price on shares of First Industrial Realty Trust in a research report on Friday, July 14th. Zacks Investment Research upgraded First Industrial Realty Trust from a sell rating to a hold rating in a research report on Monday, July 31st. BidaskClub upgraded First Industrial Realty Trust from a hold rating to a buy rating in a research report on Monday, July 24th. Jefferies Group LLC reiterated a hold rating and set a $32.00 target price (up from $30.00) on shares of First Industrial Realty Trust in a research report on Thursday, August 24th. Finally, Janney Montgomery Scott initiated coverage on First Industrial Realty Trust in a research report on Friday, September 29th. They set a buy rating and a $34.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. First Industrial Realty Trust presently has an average rating of Hold and a consensus price target of $31.17.

First Industrial Realty Trust (FR) opened at 30.68 on Friday. First Industrial Realty Trust has a one year low of $24.85 and a one year high of $31.83. The firm has a 50-day moving average price of $30.91 and a 200-day moving average price of $29.71. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 31.24 and a beta of 1.00.

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, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.68% and a net margin of 32.44%. The firm had revenue of $99.30 million for the quarter, compared to the consensus estimate of $98.38 million. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities analysts predict that First Industrial Realty Trust will post $0.83 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.21 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.74%. First Industrial Realty Trust’s dividend payout ratio (DPR) is 78.50%.

In other news, Director Bruce W. Duncan sold 16,855 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total value of $519,976.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Harker sold 20,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $30.45, for a total value of $609,000.00. Following the completion of the sale, the executive vice president now owns 118,470 shares of the company’s stock, valued at approximately $3,607,411.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,856 shares of company stock worth $2,116,561. Company insiders own 1.71% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in shares of First Industrial Realty Trust by 1.1% in the second quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock valued at $7,406,000 after buying an additional 2,757 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at about $1,637,000. Legal & General Group Plc grew its stake in shares of First Industrial Realty Trust by 11.5% in the second quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock valued at $10,197,000 after buying an additional 36,713 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of First Industrial Realty Trust by 10.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock valued at $39,635,000 after buying an additional 128,673 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of First Industrial Realty Trust by 3.7% in the second quarter. Goldman Sachs Group Inc. now owns 740,025 shares of the real estate investment trust’s stock valued at $21,180,000 after buying an additional 26,649 shares in the last quarter. Institutional investors and hedge funds own 92.10% of the company’s stock.

First Industrial Realty Trust Company Profile

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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