ValuEngine Upgrades First Industrial Realty Trust, Inc. (FR) to Buy

First Industrial Realty Trust, Inc. (NYSE:FR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other research analysts have also issued reports on the company. SunTrust Banks, Inc. reissued a “buy” rating and issued a $34.00 target price on shares of First Industrial Realty Trust in a research report on Friday, November 10th. Stifel Nicolaus increased their target price on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a research note on Tuesday, October 24th. Janney Montgomery Scott began coverage on First Industrial Realty Trust in a research note on Friday, September 29th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a research note on Tuesday, September 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.67.

First Industrial Realty Trust (NYSE:FR) opened at $32.36 on Wednesday. First Industrial Realty Trust has a 52-week low of $25.31 and a 52-week high of $32.47. The stock has a market capitalization of $3,808.74, a P/E ratio of 20.64 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.81.

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, topping the consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million during the quarter, compared to analyst estimates of $98.38 million. During the same quarter in the prior year, the company earned $0.37 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. research analysts expect that First Industrial Realty Trust will post 1.55 earnings per share for the current fiscal year.

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In related news, Director Bruce W. Duncan sold 16,855 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was 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 SEC, which is available through this link. Over the last ninety days, insiders sold 50,565 shares of company stock worth $1,585,718. 1.71% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. State Street Corp raised its holdings in First Industrial Realty Trust by 2.9% during the second quarter. State Street Corp now owns 5,558,921 shares of the real estate investment trust’s stock valued at $159,093,000 after acquiring an additional 154,676 shares during the period. Principal Financial Group Inc. raised its holdings in First Industrial Realty Trust by 3.5% during the third quarter. Principal Financial Group Inc. now owns 4,449,105 shares of the real estate investment trust’s stock valued at $133,874,000 after acquiring an additional 150,162 shares during the period. Northern Trust Corp raised its holdings in First Industrial Realty Trust by 3.5% during the second quarter. Northern Trust Corp now owns 3,322,800 shares of the real estate investment trust’s stock valued at $95,098,000 after acquiring an additional 112,948 shares during the period. Bank of New York Mellon Corp raised its holdings in First Industrial Realty Trust by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 3,244,687 shares of the real estate investment trust’s stock valued at $97,632,000 after acquiring an additional 83,863 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in First Industrial Realty Trust by 5.1% during the third quarter. Ameriprise Financial Inc. now owns 2,342,014 shares of the real estate investment trust’s stock valued at $70,473,000 after acquiring an additional 114,605 shares during the period. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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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