Barclays Issues Positive Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price target increased by Barclays from $55.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price target would suggest a potential upside of 4.48% from the company's previous close.

A number of other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group upgraded shares of First Industrial Realty Trust from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $52.00 to $59.00 in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target for the company. Robert W. Baird boosted their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. Finally, KeyCorp upgraded First Industrial Realty Trust from an "underweight" rating to a "sector weight" rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of "Hold" and a consensus target price of $58.38.

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First Industrial Realty Trust Price Performance

Shares of FR stock traded down $0.65 during trading hours on Tuesday, reaching $53.60. The company's stock had a trading volume of 839,516 shares, compared to its average volume of 1,070,118. First Industrial Realty Trust has a fifty-two week low of $45.10 and a fifty-two week high of $58.17. The firm's 50 day simple moving average is $54.99 and its 200-day simple moving average is $53.72. 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 market capitalization of $7.10 billion, a price-to-earnings ratio of 24.59 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. Sell-side analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds have recently bought and sold shares of the company. Synovus Financial Corp grew its holdings in First Industrial Realty Trust by 96.3% during the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust's stock worth $1,588,000 after acquiring an additional 13,922 shares during the period. Franklin Resources Inc. grew its stake in First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after purchasing an additional 58,088 shares during the period. Proficio Capital Partners LLC bought a new stake in First Industrial Realty Trust in the fourth quarter worth approximately $1,463,000. JPMorgan Chase & Co. lifted its stake in First Industrial Realty Trust by 28.7% in the third quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust's stock valued at $187,798,000 after buying an additional 747,101 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of First Industrial Realty Trust by 13.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock worth $142,000 after buying an additional 331 shares in 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.