First Industrial Realty Trust (NYSE:FR) Rating Lowered to Sell at Wall Street Zen

First Industrial Realty Trust (NYSE:FR) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

FR has been the topic of several other research reports. Truist Financial cut their price objective on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Scotiabank upped their price objective on First Industrial Realty Trust from $50.00 to $51.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Barclays cut their price objective on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Finally, The Goldman Sachs Group cut their price objective on 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $55.91.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $49.09 on Friday. The stock’s fifty day moving average is $48.81 and its 200 day moving average is $51.30. First Industrial Realty Trust has a fifty-two week low of $40.31 and a fifty-two week high of $58.17. The firm has a market capitalization of $6.50 billion, a PE ratio of 24.30 and a beta of 1.08. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.05 and a current ratio of 1.05.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 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 the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. On average, sell-side analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of First Industrial Realty Trust by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust’s stock worth $1,044,103,000 after purchasing an additional 158,692 shares during the last quarter. Invesco Ltd. lifted its stake in shares of First Industrial Realty Trust by 2.0% during the 1st quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust’s stock worth $235,489,000 after purchasing an additional 87,229 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of First Industrial Realty Trust by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock worth $124,492,000 after purchasing an additional 14,298 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of First Industrial Realty Trust by 5.7% during the 4th quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock worth $121,922,000 after purchasing an additional 130,819 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of First Industrial Realty Trust by 159.5% during the 1st quarter. Millennium Management LLC now owns 2,260,701 shares of the real estate investment trust’s stock worth $121,987,000 after purchasing an additional 1,389,418 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.