First Industrial Realty Trust (NYSE:FR) Raised to “Sector Weight” at KeyCorp

First Industrial Realty Trust (NYSE:FR) was upgraded by analysts at KeyCorp from an “underweight” rating to a “sector weight” rating in a research report issued on Tuesday, Marketbeat.com reports.

FR has been the topic of several other reports. Wells Fargo & Company boosted their price target on 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. Barclays lowered their price objective on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Scotiabank raised their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Finally, Mizuho boosted their price target on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $57.83.

First Industrial Realty Trust Trading Down 3.7 %

First Industrial Realty Trust stock opened at $50.06 on Tuesday. The business’s 50-day simple moving average is $53.29 and its 200-day simple moving average is $52.75. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $57.35. The firm has a market capitalization of $6.63 billion, a PE ratio of 21.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last posted 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 company had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a return on equity of 11.53% and a net margin of 47.34%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. Equities research analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC boosted its holdings in First Industrial Realty Trust by 7.3% during the third quarter. Lord Abbett & CO. LLC now owns 475,351 shares of the real estate investment trust’s stock worth $26,610,000 after buying an additional 32,504 shares during the last quarter. Franklin Resources Inc. boosted its stake in First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock worth $10,546,000 after acquiring an additional 58,088 shares during the last quarter. Synovus Financial Corp grew its holdings in First Industrial Realty Trust by 96.3% during the third quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock valued at $1,588,000 after purchasing an additional 13,922 shares during the period. Tidal Investments LLC increased its stake in First Industrial Realty Trust by 20.1% in the third quarter. Tidal Investments LLC now owns 82,537 shares of the real estate investment trust’s stock valued at $4,620,000 after purchasing an additional 13,827 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in First Industrial Realty Trust by 60.7% in the third quarter. Sanctuary Advisors LLC now owns 9,463 shares of the real estate investment trust’s stock worth $509,000 after purchasing an additional 3,576 shares during the period. 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 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.