Barclays Has Lowered Expectations for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price objective decreased by equities researchers at Barclays from $56.00 to $55.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target suggests a potential upside of 5.97% from the stock’s current price.

A number of other analysts also recently commented on the stock. Mizuho boosted their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. The Goldman Sachs Group boosted their price target on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the company a “sell” rating in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 price target on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada boosted their price target on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Stock Down 1.0 %

NYSE FR opened at $51.90 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50 day simple moving average is $54.61 and its 200 day simple moving average is $51.85. First Industrial Realty Trust has a 12 month low of $44.35 and a 12 month high of $57.35. The company has a market capitalization of $6.87 billion, a P/E ratio of 22.27 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The business had revenue of $167.60 million for the quarter, compared to the consensus estimate of $164.01 million. During the same period in the previous year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts expect that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in First Industrial Realty Trust by 0.4% in the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust’s stock worth $1,008,284,000 after acquiring an additional 77,270 shares in the last quarter. Geode Capital Management LLC grew its position in First Industrial Realty Trust by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,468,395 shares of the real estate investment trust’s stock worth $138,214,000 after acquiring an additional 15,093 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in First Industrial Realty Trust by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,182,600 shares of the real estate investment trust’s stock worth $122,182,000 after acquiring an additional 81,826 shares in the last quarter. Victory Capital Management Inc. grew its position in First Industrial Realty Trust by 7.3% in the second quarter. Victory Capital Management Inc. now owns 2,177,761 shares of the real estate investment trust’s stock worth $103,465,000 after acquiring an additional 148,996 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in First Industrial Realty Trust by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,023,449 shares of the real estate investment trust’s stock worth $96,133,000 after acquiring an additional 118,239 shares in the last quarter. 99.85% of the stock is 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.