First Industrial Realty Trust (NYSE:FR) Given New $65.00 Price Target at Truist Financial

First Industrial Realty Trust (NYSE:FR) had its target price lifted by Truist Financial from $60.00 to $65.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 8.36% from the company’s previous close.

FR has been the subject of several other research reports. Wells Fargo & Company increased their price objective on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a report on Monday, January 5th. Weiss Ratings restated a “hold (c+)” rating on shares of First Industrial Realty Trust in a research note on Friday, October 31st. Mizuho upped their target price on First Industrial Realty Trust from $56.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $62.46.

First Industrial Realty Trust Stock Up 1.1%

FR opened at $59.99 on Tuesday. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 year high of $60.20. The firm has a 50 day moving average price of $57.65 and a 200 day moving average price of $53.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $7.94 billion, a PE ratio of 33.51 and a beta of 1.14.

Insider Buying and Selling at First Industrial Realty Trust

In other news, CIO Johannson L. Yap sold 680 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total transaction of $39,691.60. Following the completion of the sale, the executive owned 3,770 shares of the company’s stock, valued at approximately $220,054.90. This trade represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at about $272,085,000. Rush Island Management LP bought a new stake in First Industrial Realty Trust in the second quarter valued at about $79,904,000. PGGM Investments acquired a new stake in First Industrial Realty Trust during the second quarter valued at approximately $77,038,000. AQR Capital Management LLC lifted its holdings in First Industrial Realty Trust by 491.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock worth $89,291,000 after buying an additional 1,541,778 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. bought a new position in First Industrial Realty Trust during the 3rd quarter worth approximately $74,584,000. 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 publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.