Barclays Issues Pessimistic Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price objective decreased by equities researchers at Barclays from $56.00 to $55.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 3.81% from the stock’s previous close.

Several other brokerages also recently issued reports on FR. Wells Fargo & Company increased their price objective on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. boosted their price objective on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Scotiabank upped their price objective on shares of First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Truist Financial lifted their target price on First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group increased their price target on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.83.

First Industrial Realty Trust Stock Up 0.6 %

Shares of FR opened at $52.98 on Monday. The firm has a market cap of $7.01 billion, a PE ratio of 22.74 and a beta of 1.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average is $54.53 and its two-hundred day moving average is $51.94. First Industrial Realty Trust has a fifty-two week low of $44.35 and a fifty-two week high of $57.35.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $167.60 million for the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of institutional investors and hedge funds have recently bought and sold shares of FR. Vanguard Group Inc. raised its stake in shares of First Industrial Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after buying an additional 77,270 shares in the last quarter. Geode Capital Management LLC grew its holdings in First Industrial Realty Trust by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after acquiring an additional 15,093 shares during the period. Charles Schwab Investment Management Inc. raised its position in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock worth $122,182,000 after acquiring an additional 81,826 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in First Industrial Realty Trust by 7.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock valued at $103,465,000 after acquiring an additional 148,996 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of First Industrial Realty Trust by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock valued at $96,133,000 after purchasing an additional 118,239 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.