First Industrial Realty Trust (NYSE:FR) Upgraded by Zacks Investment Research to Buy

First Industrial Realty Trust (NYSE:FR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The brokerage presently has a $43.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.63% from the stock’s previous close.

According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “

Separately, Goldman Sachs Group started coverage on shares of First Industrial Realty Trust in a research note on Wednesday, May 15th. They set a “buy” rating and a $38.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.70.



FR traded down $0.03 during trading on Wednesday, reaching $38.52. 694,258 shares of the company were exchanged, compared to its average volume of 699,649. First Industrial Realty Trust has a 12-month low of $27.30 and a 12-month high of $39.63. The company’s 50-day moving average is $38.40 and its two-hundred day moving average is $36.26. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.83. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 3.51 and a beta of 0.72.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.11). First Industrial Realty Trust had a net margin of 35.11% and a return on equity of 8.70%. The company had revenue of $104.10 million for the quarter, compared to analysts’ expectations of $105.62 million. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that First Industrial Realty Trust will post 1.71 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. bought a new stake in First Industrial Realty Trust during the second quarter valued at approximately $35,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of First Industrial Realty Trust during the 2nd quarter valued at $51,000. Point72 Hong Kong Ltd lifted its holdings in shares of First Industrial Realty Trust by 848.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 1,660 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 1,485 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of First Industrial Realty Trust by 46.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,234 shares of the real estate investment trust’s stock worth $82,000 after acquiring an additional 708 shares during the last quarter. Finally, Signaturefd LLC grew its position in First Industrial Realty Trust by 12.8% in the first quarter. Signaturefd LLC now owns 2,814 shares of the real estate investment trust’s stock worth $100,000 after acquiring an additional 320 shares in the last quarter. 94.36% of the stock is owned by institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

See Also: What is Cost of Debt?

Get a free copy of the Zacks research report on First Industrial Realty Trust (FR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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.