First Industrial Realty Trust (FR) Rating Increased to Buy at ValuEngine

First Industrial Realty Trust (NYSE:FR) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

FR has been the subject of several other research reports. SunTrust Banks set a $32.00 target price on shares of First Industrial Realty Trust and gave the stock a “buy” rating in a research note on Friday, March 2nd. Zacks Investment Research lowered shares of First Industrial Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Jefferies Group reiterated a “buy” rating and issued a $39.00 target price on shares of First Industrial Realty Trust in a research note on Friday, February 23rd. Robert W. Baird reiterated a “hold” rating and issued a $31.00 target price on shares of First Industrial Realty Trust in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus reduced their target price on shares of First Industrial Realty Trust from $34.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.86.

Shares of FR stock opened at $30.27 on Friday. The firm has a market cap of $3,560.56, a price-to-earnings ratio of 19.28 and a beta of 0.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.07 and a quick ratio of 1.07. First Industrial Realty Trust has a 12 month low of $27.38 and a 12 month high of $32.91.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Tuesday, April 24th. The real estate investment trust reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.17. First Industrial Realty Trust had a net margin of 53.92% and a return on equity of 15.20%. The firm had revenue of $99.77 million during the quarter, compared to analyst estimates of $98.86 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. analysts forecast that First Industrial Realty Trust will post 1.61 EPS for the current year.

In related news, CIO Johannson L. Yap sold 6,600 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $28.54, for a total value of $188,364.00. Following the transaction, the executive now directly owns 292,033 shares of the company’s stock, valued at approximately $8,334,621.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.71% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in First Industrial Realty Trust by 9.8% during the fourth quarter. BlackRock Inc. now owns 18,349,221 shares of the real estate investment trust’s stock valued at $577,449,000 after purchasing an additional 1,645,026 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in First Industrial Realty Trust by 39.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,268,200 shares of the real estate investment trust’s stock valued at $71,380,000 after purchasing an additional 643,800 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Industrial Realty Trust by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,740,731 shares of the real estate investment trust’s stock valued at $52,379,000 after purchasing an additional 71,899 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in First Industrial Realty Trust by 12.5% during the fourth quarter. Macquarie Group Ltd. now owns 1,538,144 shares of the real estate investment trust’s stock valued at $47,665,000 after purchasing an additional 171,367 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in First Industrial Realty Trust by 8.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,478,117 shares of the real estate investment trust’s stock valued at $46,517,000 after purchasing an additional 113,069 shares during the last quarter. 94.21% 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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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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