First Industrial Realty Trust’s (NYSE:FR) “Buy” Rating Reaffirmed at SunTrust Banks, Inc.

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.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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