Barclays Forecasts Strong Price Appreciation for First Industrial Realty Trust (NYSE:FR) Stock

First Industrial Realty Trust (NYSE:FR) had its target price lifted by stock analysts at Barclays from $55.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 3.86% from the company’s current price.

FR has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft assumed coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. The Goldman Sachs Group raised First Industrial Realty Trust from a “sell” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $59.00 in a research note on Friday, February 21st. Robert W. Baird lifted their price objective on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $58.38.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $53.92 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The firm has a market capitalization of $7.14 billion, a PE ratio of 24.73 and a beta of 1.07. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $58.17. The business’s fifty day moving average price is $54.71 and its two-hundred day moving average price is $53.77.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, topping the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, research analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after purchasing an additional 1,903,164 shares during the period. Norges Bank acquired a new stake in shares of First Industrial Realty Trust in the fourth quarter worth $90,489,000. Rush Island Management LP purchased a new position in shares of First Industrial Realty Trust during the third quarter valued at $60,848,000. JPMorgan Chase & Co. raised its position in First Industrial Realty Trust by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock valued at $187,798,000 after buying an additional 747,101 shares during the period. Finally, Deutsche Bank AG lifted its stake in First Industrial Realty Trust by 56.1% in the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock worth $94,176,000 after acquiring an additional 675,306 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.