First Industrial Realty Trust (NYSE:FR) Price Target Lowered to $58.00 at Royal Bank of Canada

First Industrial Realty Trust (NYSE:FR) had its price target decreased by Royal Bank of Canada from $62.00 to $58.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 21.87% from the company’s previous close.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. The Goldman Sachs Group reduced their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Scotiabank dropped their target price on First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating for the company in a research report on Monday, April 7th. Finally, Robert W. Baird increased their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, First Industrial Realty Trust currently has an average rating of “Moderate Buy” and a consensus price target of $57.08.

First Industrial Realty Trust Stock Up 0.0 %

FR opened at $47.59 on Tuesday. The company has a market capitalization of $6.30 billion, a PE ratio of 21.83 and a beta of 1.07. The firm has a 50-day simple moving average of $51.57 and a two-hundred day simple moving average of $52.37. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 52 week low of $40.31 and a 52 week high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. The firm had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. Analysts forecast that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Industrial Realty Trust

Several institutional investors have recently made changes to their positions in the company. State of Michigan Retirement System lifted its stake in First Industrial Realty Trust by 1.0% in the first quarter. State of Michigan Retirement System now owns 31,668 shares of the real estate investment trust’s stock worth $1,709,000 after acquiring an additional 300 shares during the period. Cerity Partners LLC raised its holdings in shares of First Industrial Realty Trust by 31.1% in the 1st quarter. Cerity Partners LLC now owns 11,185 shares of the real estate investment trust’s stock valued at $606,000 after purchasing an additional 2,653 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of First Industrial Realty Trust by 5.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 89,195 shares of the real estate investment trust’s stock worth $4,625,000 after purchasing an additional 4,831 shares during the period. Liberty One Investment Management LLC lifted its position in shares of First Industrial Realty Trust by 8.1% in the 1st quarter. Liberty One Investment Management LLC now owns 91,812 shares of the real estate investment trust’s stock worth $4,954,000 after purchasing an additional 6,853 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of First Industrial Realty Trust by 9.3% during the first quarter. Envestnet Asset Management Inc. now owns 263,247 shares of the real estate investment trust’s stock valued at $14,205,000 after purchasing an additional 22,499 shares in the last quarter. Hedge funds and other institutional investors 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.