First Industrial Realty Trust (NYSE:FR) Rating Lowered to Hold at Zacks Investment Research

First Industrial Realty Trust (NYSE:FR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

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, ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. First Industrial Realty Trust has a consensus rating of “Hold” and a consensus price target of $33.10.

FR opened at $40.52 on Tuesday. The business has a 50 day moving average price of $39.51 and a two-hundred day moving average price of $37.31. 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 $5.11 billion, a PE ratio of 25.33, a P/E/G ratio of 3.68 and a beta of 0.70. First Industrial Realty Trust has a 52 week low of $27.30 and a 52 week high of $40.62.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. SRS Capital Advisors Inc. acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $35,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter worth approximately $51,000. Point72 Hong Kong Ltd grew its holdings in shares of First Industrial Realty Trust by 848.6% in 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 period. Tower Research Capital LLC TRC grew its holdings in shares of First Industrial Realty Trust by 46.4% in 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 period. Finally, Assetmark Inc. grew its holdings in shares of First Industrial Realty Trust by 11.5% in the 2nd quarter. Assetmark Inc. now owns 4,993 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 516 shares during the period. Institutional investors and hedge funds own 94.42% of the company’s stock.

About First Industrial Realty Trust

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.

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