First Industrial Realty Trust (NYSE:FR) PT Raised to $55.00 at Scotiabank

First Industrial Realty Trust (NYSE:FR) had its price objective raised by stock analysts at Scotiabank from $50.00 to $55.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would suggest a potential upside of 4.50% from the stock’s previous close.

A number of other research firms have also commented on FR. Truist Financial raised their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday. BNP Paribas began coverage on First Industrial Realty Trust in a research note on Tuesday, June 4th. They set an “outperform” rating and a $57.00 price target for the company. The Goldman Sachs Group upped their target price on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Wedbush lowered shares of First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, Robert W. Baird lowered their price target on shares of First Industrial Realty Trust from $62.00 to $56.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Hold” and a consensus target price of $54.73.

First Industrial Realty Trust Stock Up 0.6 %

Shares of First Industrial Realty Trust stock traded up $0.32 on Wednesday, reaching $52.63. 618,386 shares of the company were exchanged, compared to its average volume of 1,050,085. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.92. 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 company has a 50-day moving average of $49.40 and a 200 day moving average of $50.30. The company has a market capitalization of $6.97 billion, a price-to-earnings ratio of 24.25 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.25). The firm had revenue of $164.10 million during the quarter, compared to analyst estimates of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. On average, equities research analysts forecast that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. lifted its holdings in First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares during the period. Allspring Global Investments Holdings LLC increased its stake in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares during the last quarter. Mather Group LLC. bought a new stake in shares of First Industrial Realty Trust during the 1st quarter worth approximately $50,000. EdgeRock Capital LLC bought a new position in First Industrial Realty Trust in the 4th quarter valued at $56,000. Finally, C M Bidwell & Associates Ltd. increased its stake in First Industrial Realty Trust by 119.5% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 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.