First Industrial Realty Trust (NYSE:FR) Downgraded by Wedbush to “Neutral”

First Industrial Realty Trust (NYSE:FR) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a note issued to investors on Thursday, FinViz reports. They currently have a $49.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $59.00. Wedbush’s target price would suggest a potential upside of 6.45% from the company’s previous close.

Several other research analysts also recently weighed in on FR. Mizuho restated a “buy” rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Barclays reiterated an “equal weight” rating and issued a $53.00 target price (down previously from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. TheStreet upgraded shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Royal Bank of Canada increased their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Finally, The Goldman Sachs Group raised their price objective on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, First Industrial Realty Trust has a consensus rating of “Hold” and an average price target of $53.11.

First Industrial Realty Trust Stock Performance

FR opened at $46.03 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. The company’s fifty day moving average price is $51.89 and its two-hundred day moving average price is $49.89. First Industrial Realty Trust has a 1-year low of $40.44 and a 1-year high of $55.22. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 21.21 and a beta of 1.01.

Hedge Funds Weigh In On First Industrial Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farmers & Merchants Investments Inc. grew its stake in First Industrial Realty Trust by 781.7% during the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 469 shares in the last quarter. Mather Group LLC. purchased a new position in First Industrial Realty Trust during the first quarter valued at approximately $50,000. EdgeRock Capital LLC purchased a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $56,000. C M Bidwell & Associates Ltd. grew its stake in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 765 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in First Industrial Realty Trust during the fourth quarter valued at approximately $82,000. Institutional investors 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.