Scotiabank Issues Pessimistic Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price target decreased by analysts at Scotiabank from $58.00 to $50.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective indicates a potential upside of 9.57% from the company’s current price.

Several other research firms have also issued reports on FR. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research report on Tuesday, March 25th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $59.00 in a research note on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.77.

First Industrial Realty Trust Price Performance

Shares of FR stock traded down $2.05 during trading on Monday, hitting $45.64. The company had a trading volume of 1,363,053 shares, compared to its average volume of 1,087,894. The firm has a market capitalization of $6.04 billion, a P/E ratio of 20.98 and a beta of 1.07. First Industrial Realty Trust has a one year low of $44.23 and a one year high of $58.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.11 and a current ratio of 1.21. The stock’s 50-day moving average price is $54.93 and its 200 day moving average price is $53.56.

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

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in FR. Invesco Ltd. boosted its stake in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock valued at $214,401,000 after purchasing an additional 1,903,164 shares during the last quarter. Norges Bank acquired a new stake in First Industrial Realty Trust during the 4th quarter worth about $90,489,000. JPMorgan Chase & Co. raised its position in shares of First Industrial Realty Trust by 28.7% in 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. Deutsche Bank AG lifted its stake in shares of First Industrial Realty Trust by 56.1% in the 4th quarter. Deutsche Bank AG now owns 1,878,628 shares of the real estate investment trust’s stock valued at $94,176,000 after purchasing an additional 675,306 shares during the period. Finally, Rush Island Management LP boosted its position in shares of First Industrial Realty Trust by 50.9% during the 4th quarter. Rush Island Management LP now owns 1,640,530 shares of the real estate investment trust’s stock valued at $82,240,000 after purchasing an additional 553,567 shares in the last quarter. 99.85% of the stock is currently owned by 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.