Scotiabank Forecasts Strong Price Appreciation for First Industrial Realty Trust (NYSE:FR) Stock

First Industrial Realty Trust (NYSE:FR) had its target price boosted by equities researchers at Scotiabank from $50.00 to $51.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential downside of 1.64% from the company’s previous close.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Robert W. Baird cut their target price on shares of First Industrial Realty Trust from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock. Finally, Truist Financial cut their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating for the company in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Industrial Realty Trust has an average rating of “Moderate Buy” and an average price target of $56.58.

First Industrial Realty Trust Stock Up 4.7%

FR stock traded up $2.32 on Monday, hitting $51.85. 490,143 shares of the company’s stock were exchanged, compared to its average volume of 1,131,297. The firm has a 50 day moving average price of $50.47 and a two-hundred day moving average price of $52.03. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $58.17. The stock has a market cap of $6.86 billion, a P/E ratio of 23.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The business had revenue of $177.07 million for the quarter, compared to analysts’ expectations of $176.98 million. As a group, equities research analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

Institutional Trading of First Industrial Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. lifted its holdings in First Industrial Realty Trust by 93.0% during the 1st quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 225 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in shares of First Industrial Realty Trust during the first quarter worth $26,000. UMB Bank n.a. raised its stake in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 214 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in First Industrial Realty Trust by 200.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 747 shares during the period. Finally, Parallel Advisors LLC grew its stake in First Industrial Realty Trust by 285.1% during the 1st quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 821 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Company Profile

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.