First Industrial Realty Trust (NYSE:FR) Price Target Raised to $52.00

First Industrial Realty Trust (NYSE:FR) had its price objective increased by The Goldman Sachs Group from $46.00 to $52.00 in a research note published on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the real estate investment trust’s stock.

FR has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price target on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an overweight rating on the stock in a report on Wednesday, April 24th. Wedbush downgraded shares of First Industrial Realty Trust from an outperform rating to a neutral rating and dropped their price objective for the company from $59.00 to $49.00 in a report on Thursday, April 25th. Scotiabank dropped their price objective on shares of First Industrial Realty Trust from $55.00 to $50.00 and set a sector perform rating on the stock in a report on Thursday, May 16th. Robert W. Baird dropped their price objective on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an outperform rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho reaffirmed a buy rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $53.55.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $54.27 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $48.57 and its two-hundred day simple moving average is $50.27. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.15. The stock has a market cap of $7.18 billion, a PE ratio of 25.01 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.25). The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. First Industrial Realty Trust’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. As a group, analysts forecast that First Industrial Realty Trust will post 2.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FR. SG Americas Securities LLC increased its position in shares of First Industrial Realty Trust by 10.0% in the fourth quarter. SG Americas Securities LLC now owns 22,559 shares of the real estate investment trust’s stock worth $1,188,000 after purchasing an additional 2,053 shares during the last quarter. Raymond James & Associates increased its position in shares of First Industrial Realty Trust by 13.9% in the fourth quarter. Raymond James & Associates now owns 20,610 shares of the real estate investment trust’s stock worth $1,086,000 after purchasing an additional 2,512 shares during the last quarter. Oak Thistle LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth approximately $477,000. State of Michigan Retirement System increased its position in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock worth $1,673,000 after purchasing an additional 200 shares during the last quarter. Finally, DAVENPORT & Co LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth approximately $209,000. 99.85% of the stock is currently owned by institutional investors.

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.