First Industrial Realty Trust (NYSE:FR) Raised to Strong-Buy at Raymond James Financial

First Industrial Realty Trust (NYSE:FR) was upgraded by research analysts at Raymond James Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also recently commented on FR. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Truist Financial boosted their price target on shares of First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 15th. Scotiabank increased their price objective on shares of First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Monday, March 2nd. Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, June 1st. Finally, Robert W. Baird raised their price objective on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.93.

First Industrial Realty Trust Price Performance

Shares of FR stock opened at $61.77 on Wednesday. First Industrial Realty Trust has a 12 month low of $47.36 and a 12 month high of $64.66. The company has a market capitalization of $8.19 billion, a P/E ratio of 23.94 and a beta of 1.05. The stock has a 50 day moving average of $62.04 and a two-hundred day moving average of $60.07. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently modified their holdings of FR. Citadel Advisors LLC lifted its position in First Industrial Realty Trust by 70.8% during the 3rd quarter. Citadel Advisors LLC now owns 2,498,172 shares of the real estate investment trust’s stock valued at $128,581,000 after purchasing an additional 1,035,385 shares during the period. M&T Bank Corp acquired a new stake in shares of First Industrial Realty Trust during the 4th quarter worth approximately $1,134,000. Hudson Bay Capital Management LP bought a new stake in shares of First Industrial Realty Trust during the third quarter worth approximately $20,172,000. NewSquare Capital LLC raised its stake in shares of First Industrial Realty Trust by 50,026.4% during the third quarter. NewSquare Capital LLC now owns 26,567 shares of the real estate investment trust’s stock worth $1,367,000 after buying an additional 26,514 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in First Industrial Realty Trust by 52.0% in the third quarter. Handelsbanken Fonder AB now owns 71,574 shares of the real estate investment trust’s stock valued at $3,684,000 after buying an additional 24,500 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 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.