First Industrial Realty Trust (FR) Now Covered by Goldman Sachs Group

Research analysts at Goldman Sachs Group assumed coverage on shares of First Industrial Realty Trust (NYSE:FR) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the real estate investment trust’s stock.

A number of other research analysts have also recently issued reports on the company. Mizuho reissued a “buy” rating and set a $38.00 price objective on shares of First Industrial Realty Trust in a report on Wednesday, February 20th. SunTrust Banks reaffirmed a “buy” rating and issued a $36.00 price target on shares of First Industrial Realty Trust in a report on Wednesday, February 20th. Finally, Zacks Investment Research raised First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.90.

Shares of NYSE:FR traded up $0.30 during trading hours on Wednesday, hitting $35.05. 658,449 shares of the company’s stock traded hands, compared to its average volume of 661,769. First Industrial Realty Trust has a 52 week low of $27.30 and a 52 week high of $36.21. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.80. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 21.91, a price-to-earnings-growth ratio of 3.16 and a beta of 0.74.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Tuesday, April 23rd. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The business had revenue of $104.50 million for the quarter, compared to the consensus estimate of $104.68 million. First Industrial Realty Trust had a net margin of 36.88% and a return on equity of 9.05%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. On average, research analysts forecast that First Industrial Realty Trust will post 1.7 earnings per share for the current year.

In related news, CFO Scott A. Musil sold 13,000 shares of First Industrial Realty Trust stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $33.90, for a total value of $440,700.00. Following the completion of the sale, the chief financial officer now directly owns 110,989 shares in the company, valued at $3,762,527.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Johannson L. Yap sold 15,000 shares of First Industrial Realty Trust stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $34.02, for a total value of $510,300.00. Following the completion of the sale, the insider now owns 109,159 shares of the company’s stock, valued at $3,713,589.18. The disclosure for this sale can be found here. 1.22% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of First Industrial Realty Trust by 17.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,055,887 shares of the real estate investment trust’s stock valued at $33,154,000 after purchasing an additional 157,716 shares in the last quarter. Jane Street Group LLC acquired a new stake in First Industrial Realty Trust during the 3rd quarter worth $236,000. Morgan Stanley raised its stake in First Industrial Realty Trust by 9.3% during the 3rd quarter. Morgan Stanley now owns 580,131 shares of the real estate investment trust’s stock worth $18,215,000 after acquiring an additional 49,248 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of First Industrial Realty Trust by 1.2% in the third quarter. Vanguard Group Inc now owns 18,681,684 shares of the real estate investment trust’s stock valued at $586,605,000 after acquiring an additional 215,720 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in shares of First Industrial Realty Trust by 0.6% in the fourth quarter. Retirement Systems of Alabama now owns 163,760 shares of the real estate investment trust’s stock valued at $4,726,000 after acquiring an additional 950 shares in the last quarter. Hedge funds and other institutional investors own 92.62% of the company’s stock.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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The Fly

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

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