Raymond James Financial Reaffirms Strong-Buy Rating for First Industrial Realty Trust (NYSE:FR)

First Industrial Realty Trust (NYSE:FR)‘s stock had its “strong-buy” rating reiterated by Raymond James Financial in a research report issued on Thursday,Benzinga reports.

Several other research analysts also recently commented on the company. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Wells Fargo & Company cut their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Scotiabank lifted their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a report on Monday, March 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $65.00 target price on shares of First Industrial Realty Trust in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Stock Down 3.6%

Shares of FR opened at $60.56 on Thursday. The company has a market capitalization of $8.03 billion, a PE ratio of 23.47 and a beta of 1.05. First Industrial Realty Trust has a 12 month low of $47.36 and a 12 month high of $64.66. The stock’s 50-day moving average price is $61.99 and its two-hundred day moving average price is $60.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after acquiring an additional 163 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of First Industrial Realty Trust by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after acquiring an additional 179 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of First Industrial Realty Trust by 4.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 183 shares in the last quarter. Assetmark Inc. raised its position in shares of First Industrial Realty Trust by 7.1% in the 3rd quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock worth $154,000 after acquiring an additional 198 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of First Industrial Realty Trust by 2.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after acquiring an additional 211 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.