First Industrial Realty Trust (NYSE:FR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised the price target for First Industrial Realty Trust from $58.00 to $61.00, indicating a potential upside of 10.05% from the last closing price.
• First Industrial Realty Trust demonstrated solid performance with a reported $0.76 earnings per share for the quarter, surpassing the consensus estimate of $0.74.
• Investment analysts remain optimistic, with five giving a Buy rating and eight a Hold rating, while the average target price stands at $56.00.

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $58.00 to $61.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 10.05% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $60.00 price objective on shares of First Industrial Realty Trust in a report on Monday, September 29th. Cantor Fitzgerald initiated coverage on First Industrial Realty Trust in a research note on Wednesday, October 1st. They set a "neutral" rating and a $55.00 target price for the company. Mizuho upped their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research report on Monday, September 8th. Industrial Alliance Securities set a $55.00 target price on First Industrial Realty Trust in a report on Wednesday, October 1st. Finally, The Goldman Sachs Group upped their target price on shares of First Industrial Realty Trust from $53.00 to $59.00 and gave the company a "neutral" rating in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $56.00.

First Industrial Realty Trust Stock Down 0.4%

First Industrial Realty Trust stock traded down $0.22 during midday trading on Thursday, hitting $55.43. 131,843 shares of the company's stock were exchanged, compared to its average volume of 1,201,509. The firm has a 50-day moving average of $51.85 and a two-hundred day moving average of $49.74. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.04 and a current ratio of 0.91. The company has a market cap of $7.34 billion, a PE ratio of 30.99 and a beta of 1.07. First Industrial Realty Trust has a 12 month low of $40.31 and a 12 month high of $58.17.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The firm had revenue of $181.43 million for the quarter, compared to the consensus estimate of $182.63 million. During the same period in the previous year, the business earned $0.69 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. As a group, analysts expect 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 have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in First Industrial Realty Trust by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,349,577 shares of the real estate investment trust's stock valued at $1,044,103,000 after acquiring an additional 158,692 shares during the period. Norges Bank bought a new position in First Industrial Realty Trust during the 2nd quarter valued at about $272,085,000. Invesco Ltd. boosted its stake in First Industrial Realty Trust by 2.0% in the first quarter. Invesco Ltd. now owns 4,364,135 shares of the real estate investment trust's stock worth $235,489,000 after purchasing an additional 87,229 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of First Industrial Realty Trust by 29.0% in the second quarter. Prudential Financial Inc. now owns 2,617,338 shares of the real estate investment trust's stock worth $137,215,000 after acquiring an additional 588,208 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of First Industrial Realty Trust by 7.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,366,674 shares of the real estate investment trust's stock valued at $113,908,000 after buying an additional 153,817 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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