Robert W. Baird Issues Positive Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price objective raised by research analysts at Robert W. Baird from $59.00 to $61.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price target would indicate a potential upside of 9.43% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. KeyCorp raised shares of First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a report on Tuesday, December 17th. Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a report on Tuesday, January 14th. They set a “hold” rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $57.77.

First Industrial Realty Trust Price Performance

NYSE:FR opened at $55.74 on Wednesday. The company has a 50 day moving average price of $51.99 and a 200-day moving average price of $53.56. First Industrial Realty Trust has a 1-year low of $45.10 and a 1-year high of $57.35. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 25.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.36. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. Equities research analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp lifted its position in shares of First Industrial Realty Trust by 96.3% during the 3rd quarter. Synovus Financial Corp now owns 28,374 shares of the real estate investment trust’s stock worth $1,588,000 after purchasing an additional 13,922 shares during the last quarter. Franklin Resources Inc. lifted its holdings in First Industrial Realty Trust by 42.9% during the 3rd quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust’s stock worth $10,546,000 after buying an additional 58,088 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of First Industrial Realty Trust by 2,886.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,843 shares of the real estate investment trust’s stock worth $1,055,000 after acquiring an additional 18,212 shares in the last quarter. Commerce Bank purchased a new position in shares of First Industrial Realty Trust in the 3rd quarter valued at about $4,817,000. Finally, JPMorgan Chase & Co. raised its position in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after acquiring an additional 747,101 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.