First Industrial Realty Trust (NYSE:FR) Price Target Raised to $56.00 at Mizuho

Key Points

• Investment analysts at Mizuho have raised the price target for First Industrial Realty Trust (NYSE:FR) from $53.00 to $56.00, suggesting a potential upside of 7.25% from the current stock price.
• The company reported a quarterly earnings of $0.76 per share, exceeding the consensus estimate of $0.72, with revenue increasing by 9.8% year-over-year.
• First Industrial Realty Trust has a consensus rating of "Hold" with five analysts recommending a Buy and six rating it as Hold.

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its target price upped by research analysts at Mizuho from $53.00 to $56.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Mizuho's price objective indicates a potential upside of 7.36% from the stock's current price.

A number of other equities research analysts also recently issued reports on FR. Wall Street Zen upgraded First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Scotiabank boosted their price target on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Finally, Wells Fargo & Company cut their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $54.80.

First Industrial Realty Trust Stock Performance

NYSE:FR traded down $0.48 during mid-day trading on Monday, reaching $52.16. The company's stock had a trading volume of 759,288 shares, compared to its average volume of 876,064. The firm's fifty day moving average price is $50.02 and its two-hundred day moving average price is $50.25. The stock has a market cap of $6.91 billion, a P/E ratio of 25.44 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 company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.88.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.04. The business had revenue of $180.16 million during the quarter, compared to the consensus estimate of $176.46 million. First Industrial Realty Trust had a return on equity of 9.92% and a net margin of 38.70%.The business's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.880-2.960 EPS. On average, equities analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current fiscal year.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its stake in First Industrial Realty Trust by 93.0% in the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 225 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in First Industrial Realty Trust in the first quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in First Industrial Realty Trust in the second quarter valued at about $40,000. Parallel Advisors LLC raised its stake in First Industrial Realty Trust by 285.1% in the first quarter. Parallel Advisors LLC now owns 1,109 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 821 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in shares of First Industrial Realty Trust by 988.7% in the second quarter. True Wealth Design LLC now owns 1,252 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 1,137 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Company Profile

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.