First Industrial Realty Trust (NYSE:FR) Price Target Lowered to $55.00 at Truist Financial

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price objective lowered by Truist Financial from $60.00 to $55.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. Truist Financial's price objective points to a potential upside of 12.53% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Scotiabank cut their price objective on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research report on Monday, April 7th. Royal Bank of Canada reduced their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 30th. The Goldman Sachs Group reduced their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their price objective on First Industrial Realty Trust from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.67.

First Industrial Realty Trust Stock Down 0.3 %

First Industrial Realty Trust stock traded down $0.15 during mid-day trading on Monday, hitting $48.88. The company had a trading volume of 120,943 shares, compared to its average volume of 1,118,679. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 22.42 and a beta of 1.07. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 0.80. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 year high of $58.17. The business has a fifty day moving average of $51.26 and a 200 day moving average of $52.24.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). The business had revenue of $177.07 million for the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. On average, sell-side analysts expect that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in shares of 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 valued at $10,546,000 after acquiring an additional 58,088 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter valued at approximately $1,463,000. Barclays PLC increased its position in First Industrial Realty Trust by 109.7% during the fourth quarter. Barclays PLC now owns 274,968 shares of the real estate investment trust's stock worth $13,783,000 after buying an additional 143,857 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of First Industrial Realty Trust by 13.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,827 shares of the real estate investment trust's stock valued at $142,000 after purchasing an additional 331 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in First Industrial Realty Trust by 6.2% during the fourth quarter. Victory Capital Management Inc. now owns 698,710 shares of the real estate investment trust's stock valued at $35,026,000 after acquiring an additional 40,734 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

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.

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