First Industrial Realty Trust (FR) Downgraded to Underweight at J P Morgan Chase & Co

First Industrial Realty Trust (NYSE:FR) was downgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $31.00 price target on the real estate investment trust’s stock. J P Morgan Chase & Co’s price objective points to a potential downside of 3.55% from the stock’s previous close.

Several other equities analysts have also recently commented on FR. Jefferies Group restated a “hold” rating and set a $32.00 price target (up from $30.00) on shares of First Industrial Realty Trust in a report on Thursday, August 24th. KeyCorp restated a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. Janney Montgomery Scott initiated coverage on shares of First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 price target on the stock. SunTrust Banks restated a “buy” rating and set a $32.00 price target on shares of First Industrial Realty Trust in a report on Friday, October 27th. Finally, Stifel Nicolaus boosted their price target on shares of First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $31.86.

First Industrial Realty Trust (NYSE FR) traded down $0.08 during midday trading on Friday, reaching $32.14. 1,781,943 shares of the company’s stock traded hands, compared to its average volume of 778,769. First Industrial Realty Trust has a 12-month low of $25.31 and a 12-month high of $32.91. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $3,850.00, a PE ratio of 20.95 and a beta of 1.02.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping 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 9.54%. The firm had revenue of $99.30 million for the quarter, compared to analysts’ expectations of $98.38 million. During the same period in the previous year, the company posted $0.37 EPS. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. equities research analysts expect that First Industrial Realty Trust will post 1.56 earnings per share for the current fiscal year.

In related news, Director Bruce W. Duncan sold 16,855 shares of the company’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $30.85, for a total value of $519,976.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruce W. Duncan sold 16,854 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total transaction of $546,406.68. Following the completion of the sale, the director now owns 866,966 shares of the company’s stock, valued at $28,107,037.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,564 shares of company stock worth $1,601,193. 1.71% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of FR. IFP Advisors Inc boosted its holdings in First Industrial Realty Trust by 5.2% in the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 190 shares in the last quarter. First Mercantile Trust Co. boosted its holdings in First Industrial Realty Trust by 1.8% in the second quarter. First Mercantile Trust Co. now owns 4,070 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 70 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in First Industrial Realty Trust by 77.8% in the second quarter. Riverhead Capital Management LLC now owns 6,224 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 2,724 shares in the last quarter. World Asset Management Inc bought a new stake in First Industrial Realty Trust in the second quarter worth $212,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in First Industrial Realty Trust in the third quarter worth $213,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

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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.