First Industrial Realty Trust (NYSE:FR) had its price target dropped by analysts at Stifel Nicolaus from $34.00 to $32.00 in a research note issued on Tuesday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 14.16% from the company’s current price.
FR has been the topic of a number of other research reports. ValuEngine cut shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Jefferies Group raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. SunTrust Banks reissued a “buy” rating and set a $34.00 target price on shares of First Industrial Realty Trust in a report on Friday, November 10th. Robert W. Baird reissued a “hold” rating and set a $31.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, January 9th. Finally, Zacks Investment Research cut shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. First Industrial Realty Trust currently has a consensus rating of “Hold” and an average target price of $32.71.
Shares of First Industrial Realty Trust (NYSE FR) opened at $28.03 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 1.07 and a debt-to-equity ratio of 0.88. The company has a market cap of $3,367.09, a P/E ratio of 17.85 and a beta of 0.90. First Industrial Realty Trust has a 1-year low of $25.56 and a 1-year high of $32.91.
In other news, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $32.42, for a total value of $546,406.68. Following the transaction, the director now owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.71% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FR. Raymond James & Associates bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth $211,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of First Industrial Realty Trust in the third quarter worth $213,000. Zeke Capital Advisors LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth $213,000. Vident Investment Advisory LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth $236,000. Finally, Lourd Capital LLC bought a new position in shares of First Industrial Realty Trust in the fourth quarter worth $244,000. 94.14% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This story was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another site, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.tickerreport.com/banking-finance/3230590/stifel-nicolaus-trims-first-industrial-realty-trust-fr-target-price-to-32-00.html.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.
Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.