First Industrial Realty Trust (NYSE:FR) Stock Gets Price Target Trim from Truist Financial

First Industrial Realty Trust (NYSE:FR) had its price objective dropped by research analysts at Truist Financial from $73.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price objective suggests a potential upside of 12.38% from the company’s previous close.

A number of other equities analysts have also recently issued reports on FR. Royal Bank Of Canada dropped their price target on shares of First Industrial Realty Trust from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Weiss Ratings downgraded shares of First Industrial Realty Trust from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Scotiabank lowered their target price on shares of First Industrial Realty Trust from $66.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Friday, October 30th. The Goldman Sachs Group dropped their target price on shares of First Industrial Realty Trust from $72.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, October 23rd. Finally, Cantor Fitzgerald cut their target price on shares of First Industrial Realty Trust from $71.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, October 26th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Hold” and an average price target of $64.93.

First Industrial Realty Trust Trading Down 0.6%

First Industrial Realty Trust stock traded down $0.34 during trading hours on Thursday, reaching $55.17. The stock had a trading volume of 127,695 shares, compared to its average volume of 1,124,850. The company has a fifty day simple moving average of $59.50 and a 200-day simple moving average of $61.28. First Industrial Realty Trust has a 52 week low of $54.16 and a 52 week high of $69.88. The stock has a market cap of $7.31 billion, a PE ratio of 20.48 and a beta of 1.01. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.06 and a quick ratio of 1.06.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. The business had revenue of $197.12 million during the quarter, compared to the consensus estimate of $196.41 million. During the same quarter in the prior year, the business posted $0.76 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts forecast that First Industrial Realty Trust will post 3.15 EPS for the current fiscal year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Csenge Advisory Group grew its position in First Industrial Realty Trust by 3.6% in the 3rd quarter. Csenge Advisory Group now owns 35,823 shares of the real estate investment trust’s stock valued at $2,133,000 after purchasing an additional 1,252 shares during the period. Kestra Investment Management LLC bought a new stake in First Industrial Realty Trust during the 3rd quarter valued at $501,000. AlphaCore Capital LLC raised its holdings in First Industrial Realty Trust by 140.5% during the third quarter. AlphaCore Capital LLC now owns 8,724 shares of the real estate investment trust’s stock worth $519,000 after buying an additional 5,096 shares during the last quarter. Fulcrum Asset Management LLP raised its holdings in First Industrial Realty Trust by 115.5% during the third quarter. Fulcrum Asset Management LLP now owns 3,299 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 1,768 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in shares of First Industrial Realty Trust by 105.4% in the third quarter. Kestra Advisory Services LLC now owns 10,014 shares of the real estate investment trust’s stock valued at $596,000 after buying an additional 5,138 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.