Royal Bank Of Canada Forecasts Strong Price Appreciation for First Industrial Realty Trust (NYSE:FR) Stock

Key Points

• Royal Bank of Canada raised the target price for First Industrial Realty Trust from $60.00 to $64.00, indicating a potential upside of 14.53% from the current stock price.
• Several analysts have also increased their price targets for First Industrial Realty Trust, with Mizuho and Goldman Sachs setting targets of $56.00 and $59.00, respectively.
• First Industrial Realty Trust reported an EPS of $0.76 for the quarter, exceeding analysts' estimates, while its revenue grew 8.2% year-over-year.

First Industrial Realty Trust (NYSE:FR - Get Free Report) had its target price lifted by Royal Bank Of Canada from $60.00 to $64.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the real estate investment trust's stock. Royal Bank Of Canada's target price would indicate a potential upside of 14.53% from the stock's current price.

Other equities research analysts have also issued reports about the company. Mizuho increased their price target on First Industrial Realty Trust from $53.00 to $56.00 and gave the stock an "outperform" rating in a research report on Monday, September 8th. The Goldman Sachs Group increased their price objective on First Industrial Realty Trust from $53.00 to $59.00 and gave the company a "neutral" rating in a research report on Tuesday. Cantor Fitzgerald started coverage on First Industrial Realty Trust in a research report on Wednesday, October 1st. They issued a "neutral" rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on First Industrial Realty Trust from $58.00 to $61.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Industrial Alliance Securities set a $55.00 price objective on First Industrial Realty Trust in a research report on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, First Industrial Realty Trust has an average rating of "Hold" and a consensus target price of $56.33.

First Industrial Realty Trust Price Performance

NYSE FR traded up $0.16 during trading hours on Friday, reaching $55.88. 53,326 shares of the company's stock were exchanged, compared to its average volume of 1,200,554. The stock has a market cap of $7.40 billion, a PE ratio of 31.20 and a beta of 1.07. First Industrial Realty Trust has a one year low of $40.31 and a one year high of $58.17. The firm has a fifty day moving average of $52.00 and a 200-day moving average of $49.82. The company has a current ratio of 0.91, 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, October 15th. The real estate investment trust reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $181.43 million for the quarter, compared to analyst estimates of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.First Industrial Realty Trust's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. On average, equities research analysts predict that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of First Industrial Realty Trust by 26.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,935 shares of the real estate investment trust's stock valued at $536,000 after purchasing an additional 2,106 shares during the period. GAMMA Investing LLC raised its stake in First Industrial Realty Trust by 55.4% during the 1st quarter. GAMMA Investing LLC now owns 1,681 shares of the real estate investment trust's stock worth $91,000 after buying an additional 599 shares during the period. Summit Trail Advisors LLC lifted its holdings in First Industrial Realty Trust by 155.1% during the first quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust's stock worth $583,000 after acquiring an additional 6,516 shares in the last quarter. Artemis Investment Management LLP acquired a new position in First Industrial Realty Trust in the first quarter valued at about $40,294,000. Finally, FJ Capital Management LLC grew its stake in First Industrial Realty Trust by 76.8% in the first quarter. FJ Capital Management LLC now owns 38,445 shares of the real estate investment trust's stock valued at $2,074,000 after acquiring an additional 16,704 shares during the period. Institutional investors and hedge funds 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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