First Industrial Realty Trust, Inc. (NYSE:FR)‘s stock had its “buy” rating reiterated by stock analysts at SunTrust Banks, Inc. in a research note issued to investors on Friday. They currently have a $32.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 3.09% from the company’s previous close.

Several other brokerages have also issued reports on FR. Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a research report on Tuesday, September 26th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research report on Tuesday. Zacks Investment Research upgraded shares of First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “buy” rating and set a $33.00 target price on shares of First Industrial Realty Trust in a research report on Friday, July 28th. Finally, Janney Montgomery Scott assumed coverage on shares of First Industrial Realty Trust in a research report on Friday, September 29th. They set a “buy” rating and a $34.00 target price for the company. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. First Industrial Realty Trust presently has a consensus rating of “Hold” and an average price target of $31.17.

Shares of First Industrial Realty Trust (NYSE FR) traded up 1.37% on Friday, hitting $31.04. 981,904 shares of the stock were exchanged. First Industrial Realty Trust has a one year low of $24.85 and a one year high of $31.83. The company has a 50-day moving average price of $30.93 and a 200-day moving average price of $29.67. The firm has a market capitalization of $3.72 billion, a PE ratio of 31.61 and a beta of 1.00.

First Industrial Realty Trust (NYSE:FR) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a net margin of 32.44% and a return on equity of 9.68%. The business had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.38 million. During the same period in the previous year, the business posted $0.37 earnings per share. First Industrial Realty Trust’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts expect that First Industrial Realty Trust will post $0.83 earnings per share for the current year.

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In other First Industrial Realty Trust news, CFO Scott A. Musil sold 20,000 shares of First Industrial Realty Trust stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $30.22, for a total transaction of $604,400.00. Following the transaction, the chief financial officer now directly owns 107,273 shares of the company’s stock, valued at $3,241,790.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruce W. Duncan sold 16,855 shares of First Industrial Realty Trust stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $30.85, for a total transaction of $519,976.75. The disclosure for this sale can be found here. Insiders have sold 100,988 shares of company stock worth $3,090,138 over the last three months. Insiders own 1.71% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Chicago Equity Partners LLC purchased a new position in shares of First Industrial Realty Trust during the second quarter worth approximately $1,637,000. The Manufacturers Life Insurance Company raised its stake in shares of First Industrial Realty Trust by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 258,793 shares of the real estate investment trust’s stock worth $7,406,000 after acquiring an additional 2,757 shares in the last quarter. Legal & General Group Plc raised its stake in shares of First Industrial Realty Trust by 11.5% during the second quarter. Legal & General Group Plc now owns 356,336 shares of the real estate investment trust’s stock worth $10,197,000 after acquiring an additional 36,713 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of First Industrial Realty Trust by 10.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,384,869 shares of the real estate investment trust’s stock worth $39,635,000 after acquiring an additional 128,673 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of First Industrial Realty Trust by 11,371.8% during the second quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock worth $2,945,000 after acquiring an additional 102,005 shares in the last quarter. 92.04% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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