First Industrial Realty Trust (NYSE:FR) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank raised its price target for First Industrial Realty Trust from $63 to $66 while maintaining a “sector perform” rating, implying 4.47% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $67.07; Truist gave the stock a $73 target and a “buy” rating.
• FR shares rose 0.3% to $63.17, while the company’s latest quarterly results missed earnings expectations, reporting $0.58 EPS versus the $0.80 consensus despite 8.2% year-over-year revenue growth.

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its target price raised by research analysts at Scotiabank from $63.00 to $66.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the real estate investment trust's stock. Scotiabank's price target indicates a potential upside of 4.47% from the company's previous close.

Several other equities analysts also recently weighed in on FR. Weiss Ratings restated a "buy (b)" rating on shares of First Industrial Realty Trust in a report on Friday, July 24th. Truist Financial increased their price objective on shares of First Industrial Realty Trust from $67.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, July 27th. Cantor Fitzgerald restated a "neutral" rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, July 27th. Barclays lifted their target price on shares of First Industrial Realty Trust from $64.00 to $69.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Finally, KeyCorp reiterated a "sector weight" rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.07.

First Industrial Realty Trust Stock Up 0.3%

Shares of FR stock traded up $0.19 during trading hours on Wednesday, hitting $63.17. 45,862 shares of the company's stock traded hands, compared to its average volume of 1,070,044. The stock's fifty day simple moving average is $64.08 and its two-hundred day simple moving average is $61.81. First Industrial Realty Trust has a 12-month low of $48.03 and a 12-month high of $69.88. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 23.06 and a beta of 1.04. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.89.

First Industrial Realty Trust (NYSE:FR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.22). The company had revenue of $194.94 million during the quarter, compared to analysts' expectations of $195.81 million. First Industrial Realty Trust had a return on equity of 12.99% and a net margin of 47.97%.The business's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.76 EPS. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. On average, analysts expect that First Industrial Realty Trust will post 3.16 EPS for the current year.

Institutional Trading of First Industrial Realty Trust

Institutional investors and hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new position in First Industrial Realty Trust in the 2nd quarter worth $984,000. Ieq Capital LLC bought a new stake in First Industrial Realty Trust during the second quarter valued at about $3,274,000. Paralel Advisors LLC purchased a new position in shares of First Industrial Realty Trust in the second quarter valued at about $2,268,000. Allworth Financial LP purchased a new position in shares of First Industrial Realty Trust in the second quarter valued at about $94,000. Finally, NFJ Investment Group LLC bought a new position in shares of First Industrial Realty Trust in the second quarter worth about $10,718,000. 99.85% of the stock is currently owned by institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc NYSE: FR is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants' supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source