First Industrial Realty Trust (NYSE:FR) Price Target Lowered to $59.00 at Robert W. Baird

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price target dropped by stock analysts at Robert W. Baird from $61.00 to $59.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Robert W. Baird's price target indicates a potential upside of 20.75% from the company's current price.

A number of other research firms have also recently commented on FR. Deutsche Bank Aktiengesellschaft initiated coverage on First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a "hold" rating and a $52.00 price target for the company. The Goldman Sachs Group lowered their price objective on First Industrial Realty Trust from $59.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank cut their price target on First Industrial Realty Trust from $58.00 to $50.00 and set a "sector perform" rating for the company in a research note on Monday, April 7th. Royal Bank of Canada decreased their price objective on shares of First Industrial Realty Trust from $62.00 to $58.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. dropped their price target 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.50.

First Industrial Realty Trust Trading Down 0.3 %

FR opened at $48.86 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. First Industrial Realty Trust has a 12 month low of $40.31 and a 12 month high of $58.17. The stock has a fifty day moving average price of $51.10 and a 200-day moving average price of $52.20.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its earnings results 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 company had revenue of $177.07 million during the quarter, compared to analysts' expectations of $176.98 million. First Industrial Realty Trust had a net margin of 42.94% and a return on equity of 10.64%. As a group, equities research analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its holdings in First Industrial Realty Trust by 34.6% in the third quarter. Barclays PLC now owns 131,111 shares of the real estate investment trust's stock valued at $7,341,000 after purchasing an additional 33,702 shares during the period. Franklin Resources Inc. increased its stake in shares of First Industrial Realty Trust by 42.9% during the third quarter. Franklin Resources Inc. now owns 193,532 shares of the real estate investment trust's stock worth $10,546,000 after buying an additional 58,088 shares during the period. Versant Capital Management Inc lifted its stake in First Industrial Realty Trust by 92.5% in the fourth quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 481 shares during the last quarter. Park Avenue Securities LLC grew its holdings in First Industrial Realty Trust by 14.8% during the 4th quarter. Park Avenue Securities LLC now owns 10,124 shares of the real estate investment trust's stock worth $508,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of First Industrial Realty Trust by 6.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 10,241 shares of the real estate investment trust's stock valued at $513,000 after purchasing an additional 665 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other 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.

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