First Industrial Realty Trust (NYSE:FR) Price Target Cut to $51.00 by Analysts at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price objective dropped by stock analysts at The Goldman Sachs Group from $59.00 to $51.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. The Goldman Sachs Group's target price would indicate a potential upside of 7.78% from the company's current price.

Several other equities analysts also recently commented on FR. Robert W. Baird increased their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Scotiabank lowered their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating on the stock in a report on Monday, April 7th. Barclays reiterated a "cautious" rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Industrial Realty Trust has a consensus rating of "Hold" and a consensus target price of $57.15.

First Industrial Realty Trust Stock Down 0.7 %

NYSE FR traded down $0.31 during trading on Tuesday, reaching $47.32. The company's stock had a trading volume of 50,076 shares, compared to its average volume of 1,118,926. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $6.26 billion, a PE ratio of 21.72 and a beta of 1.07. First Industrial Realty Trust has a 1-year low of $40.31 and a 1-year high of $58.17. The business has a 50-day moving average price of $52.23 and a 200-day moving average price of $52.55.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). The business had revenue of $177.07 million during the quarter, compared to analyst estimates of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. On average, research analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FR. Invesco Ltd. boosted its holdings in First Industrial Realty Trust by 80.2% during the fourth quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust's stock valued at $214,401,000 after purchasing an additional 1,903,164 shares in the last quarter. Norges Bank bought a new position in shares of First Industrial Realty Trust during the 4th quarter worth approximately $90,489,000. JPMorgan Chase & Co. boosted its stake in First Industrial Realty Trust by 28.7% in the 3rd 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 in the last quarter. Artemis Investment Management LLP bought a new stake in First Industrial Realty Trust in the first quarter valued at $40,294,000. Finally, Deutsche Bank AG raised its stake in First Industrial Realty Trust by 56.1% during the fourth quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust's stock worth $94,176,000 after acquiring an additional 675,306 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.