Scotiabank Boosts First Industrial Realty Trust (NYSE:FR) Price Target to $51.00

First Industrial Realty Trust (NYSE:FR) had its target price increased by Scotiabank from $50.00 to $51.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential downside of 1.64% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada reduced their target price on First Industrial Realty Trust from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Truist Financial decreased their target price on shares of First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Robert W. Baird decreased their target price on First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and an average target price of $56.58.

First Industrial Realty Trust Stock Up 4.7%

Shares of NYSE:FR traded up $2.32 during trading hours on Monday, reaching $51.85. The stock had a trading volume of 490,143 shares, compared to its average volume of 1,131,297. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of 23.82 and a beta of 1.08. The firm’s 50 day moving average is $50.47 and its 200-day moving average is $52.03. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 year high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The firm had revenue of $177.07 million during the quarter, compared to analysts’ expectations of $176.98 million. Research analysts predict that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Bessemer Group Inc. grew its position in shares of First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in First Industrial Realty Trust in the first quarter valued at approximately $26,000. UMB Bank n.a. boosted its stake in First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares during the period. Parallel Advisors LLC grew its holdings in shares of First Industrial Realty Trust by 285.1% during the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 821 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 747 shares during the period. 99.85% of the stock is currently owned by institutional investors.

About First Industrial Realty Trust

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.