First Industrial Realty Trust (NYSE:FR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage currently has a $47.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.09% from the company’s current price.
According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “
Separately, ValuEngine lowered shares of First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $33.50.
Shares of FR stock opened at $41.93 on Monday. The company has a 50 day moving average price of $41.92 and a 200-day moving average price of $38.92. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $5.35 billion, a PE ratio of 26.21, a P/E/G ratio of 3.81 and a beta of 0.67. First Industrial Realty Trust has a 52 week low of $27.30 and a 52 week high of $43.24.
First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.19. The company had revenue of $106.59 million during the quarter, compared to analyst estimates of $106.81 million. First Industrial Realty Trust had a net margin of 45.86% and a return on equity of 11.43%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts anticipate that First Industrial Realty Trust will post 1.74 earnings per share for the current year.
In related news, EVP Peter Schultz sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $42.03, for a total transaction of $504,360.00. Following the completion of the sale, the executive vice president now directly owns 97,159 shares in the company, valued at $4,083,592.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.22% of the company’s stock.
A number of large investors have recently modified their holdings of FR. Arizona State Retirement System lifted its holdings in shares of First Industrial Realty Trust by 1.0% in the second quarter. Arizona State Retirement System now owns 91,800 shares of the real estate investment trust’s stock worth $3,373,000 after buying an additional 898 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of First Industrial Realty Trust by 74.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 144,400 shares of the real estate investment trust’s stock worth $5,305,000 after buying an additional 61,830 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of First Industrial Realty Trust by 38.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 162,530 shares of the real estate investment trust’s stock worth $5,971,000 after buying an additional 45,005 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of First Industrial Realty Trust by 25.3% in the second quarter. First Trust Advisors LP now owns 70,368 shares of the real estate investment trust’s stock worth $2,585,000 after buying an additional 14,201 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in shares of First Industrial Realty Trust by 3.7% in the second quarter. Aperio Group LLC now owns 50,279 shares of the real estate investment trust’s stock worth $1,847,000 after buying an additional 1,797 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
About First Industrial Realty Trust
First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.
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