First Industrial Realty Trust (NYSE:FR – Get Free Report) had its target price dropped by equities research analysts at Royal Bank Of Canada from $75.00 to $70.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price target indicates a potential upside of 28.63% from the company’s previous close.
Other research analysts have also recently issued reports about the company. 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. Citigroup cut their price objective on First Industrial Realty Trust from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group set a $71.00 price objective on First Industrial Realty Trust in a research note on Friday, October 23rd. Raymond James Financial lowered First Industrial Realty Trust from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $86.00 to $71.00 in a research report on Friday, October 23rd. Finally, Barclays lifted their target price on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Hold” and an average target price of $66.40.
Read Our Latest Stock Analysis on First Industrial Realty Trust
First Industrial Realty Trust Price Performance
NYSE:FR traded down $0.57 during mid-day trading on Friday, reaching $54.42. The stock had a trading volume of 628,061 shares, compared to its average volume of 1,112,253. The firm has a 50 day moving average price of $60.16 and a two-hundred day moving average price of $61.36. 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 has a one year low of $54.16 and a one year high of $69.88. The stock has a market capitalization of $7.22 billion, a P/E ratio of 20.23 and a beta of 1.03.
First Industrial Realty Trust (NYSE:FR – Get Free Report) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). The company had revenue of $197.12 million for the quarter, compared to the consensus estimate of $196.41 million. First Industrial Realty Trust had a net margin of 46.12% and a return on equity of 12.60%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. As a group, analysts expect that First Industrial Realty Trust will post 3.16 earnings per share for the current year.
Institutional Investors Weigh In On First Industrial Realty Trust
A number of hedge funds have recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in First Industrial Realty Trust by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 163 shares during the last quarter. Arizona State Retirement System boosted its holdings in First Industrial Realty Trust by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 36,580 shares of the real estate investment trust’s stock valued at $2,243,000 after purchasing an additional 207 shares in the last quarter. North Dakota State Investment Board raised its holdings in First Industrial Realty Trust by 6.1% during the third quarter. North Dakota State Investment Board now owns 4,039 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 233 shares during the last quarter. Versant Capital Management Inc grew its holdings in First Industrial Realty Trust by 2.9% during the 3rd quarter. Versant Capital Management Inc now owns 8,525 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 242 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its stake in First Industrial Realty Trust by 3.3% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 8,669 shares of the real estate investment trust’s stock worth $502,000 after buying an additional 274 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.
First Industrial Realty Trust Company Profile
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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