Deutsche Bank Aktiengesellschaft Initiates Coverage on First Industrial Realty Trust (NYSE:FR)

Research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust (NYSE:FR) in a report released on Tuesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $52.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 3.69% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays decreased their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, November 18th. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.38.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $50.15 on Tuesday. The company has a 50-day moving average of $51.68 and a 200-day moving average of $53.14. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 21.52 and a beta of 1.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a twelve month low of $45.10 and a twelve month high of $57.35.

First Industrial Realty Trust (NYSE:FR) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analysts’ expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Analysts forecast that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds have recently modified their holdings of the stock. American Century Companies Inc. grew its stake in First Industrial Realty Trust by 10.0% in the second quarter. American Century Companies Inc. now owns 42,763 shares of the real estate investment trust’s stock valued at $2,032,000 after purchasing an additional 3,884 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of First Industrial Realty Trust by 4.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 215,455 shares of the real estate investment trust’s stock valued at $10,236,000 after buying an additional 9,188 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 118,239 shares during the last quarter. Renaissance Technologies LLC raised its position in First Industrial Realty Trust by 77.7% during the second quarter. Renaissance Technologies LLC now owns 143,400 shares of the real estate investment trust’s stock valued at $6,813,000 after acquiring an additional 62,700 shares in the last quarter. Finally, Edgestream Partners L.P. lifted its stake in First Industrial Realty Trust by 216.7% in the second quarter. Edgestream Partners L.P. now owns 106,331 shares of the real estate investment trust’s stock valued at $5,052,000 after acquiring an additional 72,757 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

About First Industrial Realty Trust

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.