First Industrial Realty Trust, Inc. (NYSE:FR)‘s stock had its “buy” rating restated by SunTrust Banks, Inc. in a report released on Friday, November 10th. They currently have a $34.00 price target on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 4.65% from the company’s previous close.
Several other analysts have also recently commented on the company. Stifel Nicolaus upped their target price on First Industrial Realty Trust from $33.00 to $34.00 and gave the company a “buy” rating in a report on Monday, November 6th. KeyCorp reiterated a “hold” rating on shares of First Industrial Realty Trust in a report on Tuesday, October 24th. Janney Montgomery Scott began coverage on First Industrial Realty Trust in a report on Friday, September 29th. They issued a “buy” rating and a $34.00 target price on the stock. Jefferies Group LLC reiterated a “neutral” rating on shares of First Industrial Realty Trust in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.67.
Shares of First Industrial Realty Trust (NYSE:FR) opened at $32.49 on Friday. The firm has a market capitalization of $3,933.38, a PE ratio of 21.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.81 and a current ratio of 0.81. First Industrial Realty Trust has a twelve month low of $25.31 and a twelve month high of $32.86.
First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ 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 company 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 business posted $0.37 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. research analysts anticipate that First Industrial Realty Trust will post 1.55 EPS for the current year.
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In related news, Director Bruce W. Duncan sold 16,855 shares of the 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 50,565 shares of company stock valued at $1,585,718 over the last three months. 1.71% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in FR. Balyasny Asset Management LLC grew its stake in First Industrial Realty Trust by 421.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,135,241 shares of the real estate investment trust’s stock valued at $32,491,000 after purchasing an additional 917,632 shares during the period. Rothschild Asset Management Inc. bought a new position in shares of First Industrial Realty Trust during the 2nd quarter worth $19,235,000. Renaissance Technologies LLC grew its stake in shares of First Industrial Realty Trust by 1,008.5% during the 2nd quarter. Renaissance Technologies LLC now owns 588,800 shares of the real estate investment trust’s stock worth $16,851,000 after acquiring an additional 535,685 shares during the period. Citadel Advisors LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter worth $14,308,000. Finally, Wells Fargo & Company MN grew its stake in shares of First Industrial Realty Trust by 54.9% during the 3rd quarter. Wells Fargo & Company MN now owns 700,001 shares of the real estate investment trust’s stock worth $21,064,000 after acquiring an additional 247,976 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.
About First Industrial Realty Trust
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.
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