Robert W. Baird Cuts First Industrial Realty Trust (NYSE:FR) Price Target to $56.00

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its price objective decreased by analysts at Robert W. Baird from $62.00 to $56.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the real estate investment trust's stock. Robert W. Baird's price objective points to a potential upside of 21.69% from the stock's previous close.

A number of other research analysts have also recently commented on the company. TheStreet raised First Industrial Realty Trust from a "c+" rating to a "b-" rating in a research note on Thursday, January 11th. Royal Bank of Canada increased their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. Truist Financial increased their target price on First Industrial Realty Trust from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. Wedbush cut First Industrial Realty Trust from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $59.00 to $49.00 in a research note on Thursday, April 25th. Finally, Mizuho reaffirmed a "buy" rating and set a $58.00 price objective on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of "Hold" and an average target price of $53.40.

First Industrial Realty Trust Price Performance

Shares of FR stock traded up $0.60 on Wednesday, reaching $46.02. The company's stock had a trading volume of 777,129 shares, compared to its average volume of 1,172,403. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a 12-month low of $40.44 and a 12-month high of $55.22. The company has a market capitalization of $6.09 billion, a P/E ratio of 21.21 and a beta of 1.01. The stock's 50 day simple moving average is $51.02 and its 200-day simple moving average is $49.89.

Institutional Trading of First Industrial Realty Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of First Industrial Realty Trust by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust's stock valued at $429,000 after purchasing an additional 275 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of First Industrial Realty Trust by 2.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 145,950 shares of the real estate investment trust's stock valued at $6,946,000 after purchasing an additional 3,580 shares during the last quarter. Cetera Trust Company N.A purchased a new position in shares of First Industrial Realty Trust during the fourth quarter valued at approximately $237,000. Deutsche Bank AG lifted its holdings in shares of First Industrial Realty Trust by 16.6% during the third quarter. Deutsche Bank AG now owns 223,882 shares of the real estate investment trust's stock valued at $10,655,000 after purchasing an additional 31,887 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in shares of First Industrial Realty Trust by 93.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 45,086 shares of the real estate investment trust's stock valued at $2,146,000 after purchasing an additional 21,780 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.