Barclays Increases First Industrial Realty Trust (NYSE:FR) Price Target to $56.00

First Industrial Realty Trust (NYSE:FR) had its price target raised by Barclays from $52.00 to $56.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target would indicate a potential upside of 2.70% from the stock’s current price.

Several other research firms have also recently issued reports on FR. Truist Financial upped their target price on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Mizuho raised their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price objective on First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company raised their target price on First Industrial Realty Trust from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.92.

First Industrial Realty Trust Trading Up 1.4 %

Shares of First Industrial Realty Trust stock opened at $54.53 on Thursday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 25.13 and a beta of 1.08. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $57.35. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $55.18 and its 200 day simple moving average is $51.10.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.25). First Industrial Realty Trust had a return on equity of 10.72% and a net margin of 44.46%. The business had revenue of $164.10 million for the quarter, compared to analysts’ expectations of $163.48 million. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that First Industrial Realty Trust will post 2.62 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 company. Land & Buildings Investment Management LLC increased its holdings in shares of First Industrial Realty Trust by 256.4% in the 2nd quarter. Land & Buildings Investment Management LLC now owns 808,212 shares of the real estate investment trust’s stock worth $38,398,000 after buying an additional 581,472 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of First Industrial Realty Trust by 328.4% during the 1st quarter. Russell Investments Group Ltd. now owns 750,189 shares of the real estate investment trust’s stock worth $39,413,000 after acquiring an additional 575,057 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $23,755,000. Bank of Montreal Can grew its holdings in shares of First Industrial Realty Trust by 442.8% in the second quarter. Bank of Montreal Can now owns 559,132 shares of the real estate investment trust’s stock worth $26,570,000 after purchasing an additional 456,124 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its holdings in shares of First Industrial Realty Trust by 14.9% in the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock worth $163,856,000 after buying an additional 402,744 shares during the period. Hedge funds and other 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.