First Industrial Realty Trust, Inc. (NYSE:FR) Short Interest Update

First Industrial Realty Trust, Inc. (NYSE:FR) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 1,580,000 shares, a growth of 14.5% from the September 30th total of 1,380,000 shares. Based on an average daily trading volume, of 1,200,000 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FR shares. Wolfe Research upgraded First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price on the stock in a report on Tuesday, August 13th. Wells Fargo & Company upped 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 note on Wednesday, August 28th. Mizuho increased their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Scotiabank increased their price objective on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on First Industrial Realty Trust from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.92.

First Industrial Realty Trust Price Performance

Shares of FR traded down $0.21 on Thursday, hitting $53.19. The company’s stock had a trading volume of 67,215 shares, compared to its average volume of 1,100,117. The company has a 50 day moving average price of $55.44 and a 200 day moving average price of $51.36. First Industrial Realty Trust has a fifty-two week low of $41.68 and a fifty-two week high of $57.35. The company has a market capitalization of $7.04 billion, a PE ratio of 24.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.16.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $167.60 million during 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 firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the company posted $0.62 earnings per share. On average, research analysts anticipate that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Land & Buildings Investment Management LLC boosted its stake in shares of First Industrial Realty Trust by 256.4% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock valued at $38,398,000 after purchasing an additional 581,472 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in First Industrial Realty Trust by 328.4% in the first quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock valued at $39,413,000 after acquiring an additional 575,057 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in First Industrial Realty Trust during the 2nd quarter worth $23,755,000. Bank of Montreal Can raised its position in shares of First Industrial Realty Trust by 442.8% during the 2nd quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock valued at $26,570,000 after acquiring an additional 456,124 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its stake in shares of First Industrial Realty Trust by 479.8% in the 1st quarter. BROOKFIELD Corp ON now owns 486,178 shares of the real estate investment trust’s stock valued at $25,544,000 after purchasing an additional 402,331 shares during the period. Institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

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.