First Industrial Realty Trust (NYSE:FR) PT Raised to $52.00 at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR) had its price target upped by stock analysts at The Goldman Sachs Group from $46.00 to $52.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 2.37% from the stock’s current price.

Several other research firms also recently weighed in on FR. Wedbush downgraded First Industrial Realty Trust from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $59.00 to $49.00 in a report on Thursday, April 25th. JPMorgan Chase & Co. cut their price objective on shares of First Industrial Realty Trust from $59.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Mizuho restated a “buy” rating and set a $58.00 target price on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Scotiabank cut their price target on First Industrial Realty Trust from $55.00 to $50.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, BNP Paribas assumed coverage on First Industrial Realty Trust in a research report on Tuesday, June 4th. They issued an “outperform” rating and a $57.00 price target for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, First Industrial Realty Trust has an average rating of “Hold” and a consensus price target of $53.55.

First Industrial Realty Trust Trading Up 1.1 %

Shares of FR stock traded up $0.58 during trading hours on Friday, reaching $53.26. 71,150 shares of the stock were exchanged, compared to its average volume of 1,057,376. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $55.15. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 24.48 and a beta of 1.07. The company’s 50-day moving average price is $48.33 and its 200-day moving average price is $50.29.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). The business had revenue of $164.10 million during the quarter, compared to the consensus estimate of $163.48 million. First Industrial Realty Trust had a net margin of 44.46% and a return on equity of 10.72%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. As a group, equities analysts anticipate that First Industrial Realty Trust will post 2.61 earnings per share for the current year.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of First Industrial Realty Trust by 10.0% in the 4th quarter. SG Americas Securities LLC now owns 22,559 shares of the real estate investment trust’s stock valued at $1,188,000 after purchasing an additional 2,053 shares during the period. Raymond James & Associates boosted its stake in shares of First Industrial Realty Trust by 13.9% during the 4th quarter. Raymond James & Associates now owns 20,610 shares of the real estate investment trust’s stock worth $1,086,000 after acquiring an additional 2,512 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter valued at about $477,000. State of Michigan Retirement System increased its stake in shares of First Industrial Realty Trust by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock valued at $1,673,000 after purchasing an additional 200 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in First Industrial Realty Trust in the 4th quarter worth about $209,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.