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

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price target dropped by analysts at Barclays from $56.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the real estate investment trust's stock. Barclays's price objective suggests a potential upside of 4.46% from the company's current price.

A number of other brokerages have also weighed in on FR. Wells Fargo & Company raised their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 28th. Truist Financial raised their price target on shares of First Industrial Realty Trust from $54.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. The Goldman Sachs Group lifted their target price on First Industrial Realty Trust from $46.00 to $52.00 and gave the company a "sell" rating in a research report on Friday, July 26th. Wolfe Research upgraded shares of First Industrial Realty Trust from a "peer perform" rating to an "outperform" rating and set a $64.00 price objective on the stock in a research note on Tuesday, August 13th. Finally, Scotiabank lifted their target price on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a "sector perform" rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.83.

First Industrial Realty Trust Stock Up 0.4 %

Shares of First Industrial Realty Trust stock traded up $0.21 during midday trading on Monday, hitting $52.65. The company had a trading volume of 621,881 shares, compared to its average volume of 1,091,623. First Industrial Realty Trust has a 52-week low of $44.35 and a 52-week high of $57.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day moving average of $54.61 and a 200 day moving average of $51.90. The stock has a market capitalization of $6.97 billion, a P/E ratio of 22.27 and a beta of 1.08.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $167.60 million during the quarter, compared to analysts' expectations of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. The firm's quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. On average, equities analysts predict that First Industrial Realty Trust will post 2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Industrial Realty Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. Janney Montgomery Scott LLC acquired a new position in shares of First Industrial Realty Trust during the 1st quarter worth approximately $230,000. Vanguard Group Inc. lifted its position in First Industrial Realty Trust by 0.4% during the first quarter. Vanguard Group Inc. now owns 19,190,794 shares of the real estate investment trust's stock worth $1,008,284,000 after buying an additional 77,270 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in First Industrial Realty Trust by 4.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,600 shares of the real estate investment trust's stock worth $715,000 after buying an additional 588 shares during the last quarter. National Bank of Canada FI grew its holdings in First Industrial Realty Trust by 163.9% in the 1st quarter. National Bank of Canada FI now owns 475,000 shares of the real estate investment trust's stock valued at $24,956,000 after buying an additional 295,000 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of First Industrial Realty Trust by 3.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 265,678 shares of the real estate investment trust's stock worth $13,955,000 after acquiring an additional 9,450 shares during the last quarter. Institutional investors and hedge funds 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.