First Industrial Realty Trust (NYSE:FR) Given New $56.00 Price Target at Barclays

First Industrial Realty Trust (NYSE:FR) had its price target lifted by analysts at Barclays from $55.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective points to a potential upside of 2.97% from the stock’s previous close.

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

First Industrial Realty Trust Stock Up 0.5 %

Shares of NYSE FR opened at $54.38 on Tuesday. The stock has a market capitalization of $7.20 billion, a P/E ratio of 24.95 and a beta of 1.07. The stock’s fifty day moving average is $54.88 and its 200 day moving average is $53.76. First Industrial Realty Trust has a 52 week low of $45.10 and a 52 week high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21.

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%. Sell-side analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in First Industrial Realty Trust by 80.2% during 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 last quarter. Norges Bank bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at about $90,489,000. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust in the third quarter valued at about $60,848,000. JPMorgan Chase & Co. raised its position in shares of 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 worth $187,798,000 after acquiring an additional 747,101 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of First Industrial Realty Trust by 56.1% in the fourth 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 during the period. Institutional investors own 99.85% of the company’s stock.

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.