Barclays Has Lowered Expectations for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its target price decreased by investment analysts at Barclays from $56.00 to $55.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target indicates a potential upside of 5.97% from the company’s previous close.

A number of other brokerages have also recently weighed in on FR. The Goldman Sachs Group boosted their price objective on shares of First Industrial Realty Trust from $46.00 to $52.00 and gave the stock a “sell” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on shares of First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Wolfe Research upgraded shares of First Industrial Realty Trust from a “peer perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research note on Tuesday, August 13th. Royal Bank of Canada upped their target price on shares of First Industrial Realty Trust from $57.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of First Industrial Realty Trust from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.83.

First Industrial Realty Trust Price Performance

Shares of First Industrial Realty Trust stock opened at $51.90 on Monday. The firm has a fifty day simple moving average of $54.61 and a 200-day simple moving average of $51.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 1-year low of $44.35 and a 1-year high of $57.35. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 22.27 and a beta of 1.08.

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

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds have recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new position in shares of First Industrial Realty Trust in the 2nd quarter valued at $2,824,000. DekaBank Deutsche Girozentrale grew its holdings in shares of First Industrial Realty Trust by 32.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,567,000 after purchasing an additional 21,767 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of First Industrial Realty Trust by 29.6% in the 1st quarter. Tidal Investments LLC now owns 53,015 shares of the real estate investment trust’s stock worth $2,785,000 after purchasing an additional 12,097 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of 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 worth $24,956,000 after purchasing an additional 295,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of First Industrial Realty Trust by 17.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 531,900 shares of the real estate investment trust’s stock worth $25,271,000 after purchasing an additional 79,515 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.