First Industrial Realty Trust (NYSE:FR – Get Free Report) had its target price dropped by equities research analysts at Cantor Fitzgerald from $71.00 to $58.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Cantor Fitzgerald‘s target price would suggest a potential upside of 6.46% from the stock’s current price.
Several other research firms have also weighed in on FR. Truist Financial upped their price objective on First Industrial Realty Trust from $67.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Robert W. Baird raised their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. UBS Group set a $71.00 price target on First Industrial Realty Trust in a research note on Friday. Royal Bank Of Canada upped their price target on First Industrial Realty Trust from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, Barclays increased their price objective on First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.07.
Read Our Latest Stock Analysis on FR
First Industrial Realty Trust Price Performance
Shares of First Industrial Realty Trust stock opened at $54.48 on Monday. The firm has a market cap of $7.22 billion, a P/E ratio of 20.25 and a beta of 1.03. The firm’s 50-day simple moving average is $60.76 and its 200-day simple moving average is $62.31. First Industrial Realty Trust has a twelve month low of $54.20 and a twelve month high of $69.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.06 and a current ratio of 1.06.
First Industrial Realty Trust (NYSE:FR – Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.38). First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. The business had revenue of $197.12 million during the quarter, compared to analyst estimates of $196.41 million. During the same period last year, the company earned $0.76 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, research analysts expect that First Industrial Realty Trust will post 3.16 EPS for the current fiscal year.
Institutional Investors Weigh In On First Industrial Realty Trust
A number of large investors have recently bought and sold shares of FR. Trust Co. of Vermont acquired a new position in First Industrial Realty Trust in the second quarter worth $39,000. Elevation Wealth Partners LLC raised its holdings in shares of First Industrial Realty Trust by 94.1% in the third quarter. Elevation Wealth Partners LLC now owns 751 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 364 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in First Industrial Realty Trust during the 2nd quarter worth about $70,000. State of Wyoming acquired a new position in First Industrial Realty Trust during the 2nd quarter worth about $71,000. Finally, Parallel Advisors LLC lifted its position in First Industrial Realty Trust by 120.8% during the 1st quarter. Parallel Advisors LLC now owns 1,382 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 756 shares in the last quarter. 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 real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.
The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.
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