First Industrial Realty Trust (NYSE:FR) Upgraded to Buy by Zacks Investment Research

First Industrial Realty Trust (NYSE:FR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Zacks.com reports. The brokerage currently has a $46.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 16.37% from the company’s previous close.

According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “

FR has been the topic of a number of other reports. Jefferies Financial Group boosted their price objective on shares of First Industrial Realty Trust from $40.00 to $41.00 and gave the company a “hold” rating in a research report on Monday, July 27th. TD Securities downgraded shares of First Industrial Realty Trust to a “hold” rating and boosted their price objective for the company from $16.50 to $19.50 in a research report on Friday, July 24th. Raymond James reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a research report on Thursday, August 6th. Mizuho boosted their price objective on shares of First Industrial Realty Trust from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird raised shares of First Industrial Realty Trust from a “neutral” rating to an “outperform” rating in a research report on Friday, July 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.89.

Shares of First Industrial Realty Trust stock traded down $1.15 during trading on Monday, hitting $39.53. The stock had a trading volume of 841,074 shares, compared to its average volume of 1,225,982. The stock has a 50 day simple moving average of $42.26 and a 200 day simple moving average of $38.03. The company has a market capitalization of $5.03 billion, a PE ratio of 19.96 and a beta of 0.82. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.91. First Industrial Realty Trust has a 1 year low of $25.89 and a 1 year high of $46.12.

First Industrial Realty Trust (NYSE:FR) last released its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.16). The firm had revenue of $109.20 million during the quarter, compared to analysts’ expectations of $109.04 million. First Industrial Realty Trust had a return on equity of 14.15% and a net margin of 57.56%. As a group, equities analysts expect that First Industrial Realty Trust will post 1.8 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp raised its stake in First Industrial Realty Trust by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 31,752 shares of the real estate investment trust’s stock valued at $1,221,000 after purchasing an additional 373 shares during the last quarter. Moloney Securities Asset Management LLC raised its stake in First Industrial Realty Trust by 4.6% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 9,506 shares of the real estate investment trust’s stock valued at $365,000 after purchasing an additional 420 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in First Industrial Realty Trust by 7.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,132 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 437 shares during the last quarter. Assetmark Inc. raised its stake in First Industrial Realty Trust by 25.2% during the 2nd quarter. Assetmark Inc. now owns 3,202 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 644 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in First Industrial Realty Trust by 108.8% during the 1st quarter. Van ECK Associates Corp now owns 1,543 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 804 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

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Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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