First Industrial Realty Trust's (FR) "Outperform" Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reaffirmed an "outperform" rating on First Industrial Realty Trust (FR) with a price target of $60.00, indicating a potential upside of 16.84% from the stock's previous close.
• Analysts show a mixed outlook with five providing a buy rating and six rating it a hold, resulting in an average target consensus of $55.00.
• First Industrial Realty Trust reported a 9.8% increase in revenue year-over-year, with $180.16 million in revenue and earnings per share of $0.76 for the latest quarter.

First Industrial Realty Trust (NYSE:FR - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Royal Bank Of Canada in a report released on Monday,Benzinga reports. They currently have a $60.00 price objective on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 16.84% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Scotiabank upped their price objective on First Industrial Realty Trust from $51.00 to $54.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. Mizuho boosted their target price on First Industrial Realty Trust from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Monday, September 8th. Finally, Wall Street Zen raised First Industrial Realty Trust from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, First Industrial Realty Trust has an average rating of "Hold" and a consensus price target of $55.00.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $51.35 on Monday. The stock's fifty day simple moving average is $50.54 and its 200 day simple moving average is $49.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 25.02 and a beta of 1.08. First Industrial Realty Trust has a one year low of $40.31 and a one year high of $58.17.

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

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp lifted its holdings in shares of First Industrial Realty Trust by 15.9% in the second quarter. Fifth Third Bancorp now owns 1,503 shares of the real estate investment trust's stock worth $72,000 after buying an additional 206 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of First Industrial Realty Trust by 1.1% in the first quarter. Cetera Investment Advisers now owns 19,500 shares of the real estate investment trust's stock worth $1,052,000 after buying an additional 220 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of 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 worth $25,000 after buying an additional 225 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 4.0% in the second quarter. ProShare Advisors LLC now owns 5,870 shares of the real estate investment trust's stock worth $283,000 after buying an additional 228 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of First Industrial Realty Trust by 0.9% in the second quarter. Corient Private Wealth LLC now owns 26,595 shares of the real estate investment trust's stock worth $1,280,000 after buying an additional 229 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

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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