First Industrial Realty Trust (NYSE:FR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

First Industrial Realty Trust (NYSE:FR) had its target price raised by stock analysts at Robert W. Baird from $59.00 to $61.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s target price would suggest a potential upside of 9.36% from the company’s previous close.

A number of other equities research analysts have also weighed in on FR. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 target price on the stock. Barclays dropped their price target on shares of First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Monday, November 18th. Finally, KeyCorp upgraded shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.77.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $55.78 on Wednesday. First Industrial Realty Trust has a twelve month low of $45.10 and a twelve month high of $57.35. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. The company has a 50-day simple moving average of $52.20 and a two-hundred day simple moving average of $53.60. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 25.59 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 EPS for the quarter, beating 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%. Analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in First Industrial Realty Trust by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 210 shares during the period. UMB Bank n.a. lifted its holdings in First Industrial Realty Trust by 24.7% during the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares during the last quarter. Stifel Financial Corp lifted its holdings in First Industrial Realty Trust by 0.9% during the fourth quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock valued at $1,309,000 after purchasing an additional 222 shares during the last quarter. Principal Securities Inc. lifted its holdings in First Industrial Realty Trust by 9.3% during the fourth quarter. Principal Securities Inc. now owns 3,151 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 269 shares during the last quarter. Finally, Fortem Financial Group LLC lifted its holdings in First Industrial Realty Trust by 2.9% during the fourth quarter. Fortem Financial Group LLC now owns 10,318 shares of the real estate investment trust’s stock valued at $517,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.