First Industrial Realty Trust, Inc. (NYSE:FR) Receives $54.38 Average Price Target from Brokerages

Shares of First Industrial Realty Trust, Inc. (NYSE:FRGet Free Report) have earned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $54.38.

A number of brokerages recently commented on FR. Wells Fargo & Company began coverage on First Industrial Realty Trust in a research note on Thursday, December 7th. They set an “equal weight” rating for the company. The Goldman Sachs Group lifted their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. KeyCorp cut First Industrial Realty Trust from a “sector weight” rating to an “underweight” rating and set a $42.00 target price for the company. in a research note on Wednesday, October 11th. StockNews.com started coverage on First Industrial Realty Trust in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Truist Financial decreased their target price on First Industrial Realty Trust from $60.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, October 24th.

Read Our Latest Report on First Industrial Realty Trust

First Industrial Realty Trust Trading Down 0.5 %

FR stock opened at $51.52 on Monday. The company has a market cap of $6.81 billion, a P/E ratio of 25.51 and a beta of 1.04. First Industrial Realty Trust has a twelve month low of $40.44 and a twelve month high of $55.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $51.36 and a 200-day moving average of $49.34.

Institutional Trading of First Industrial Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. grew its position in shares of First Industrial Realty Trust by 192.7% in the first quarter. Nomura Holdings Inc. now owns 3,088,269 shares of the real estate investment trust’s stock valued at $164,296,000 after purchasing an additional 2,033,000 shares during the last quarter. Norges Bank acquired a new stake in First Industrial Realty Trust during the fourth quarter worth approximately $70,783,000. JPMorgan Chase & Co. grew its position in First Industrial Realty Trust by 92.2% during the first quarter. JPMorgan Chase & Co. now owns 2,799,425 shares of the real estate investment trust’s stock worth $148,929,000 after buying an additional 1,342,783 shares in the last quarter. Alliancebernstein L.P. grew its position in First Industrial Realty Trust by 469.3% during the second quarter. Alliancebernstein L.P. now owns 1,576,944 shares of the real estate investment trust’s stock worth $83,010,000 after buying an additional 1,299,944 shares in the last quarter. Finally, State Street Corp grew its position in First Industrial Realty Trust by 13.4% during the first quarter. State Street Corp now owns 7,126,381 shares of the real estate investment trust’s stock worth $443,256,000 after buying an additional 844,833 shares in the last quarter. Institutional investors own 98.36% of the company’s stock.

About First Industrial Realty Trust

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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.

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