Truist Financial Has Lowered Expectations for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price objective reduced by research analysts at Truist Financial from $73.00 to $62.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial‘s price objective would suggest a potential upside of 15.25% from the stock’s current price.

A number of other analysts have also issued reports on FR. Robert W. Baird boosted their target price on First Industrial Realty Trust from $71.00 to $74.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald dropped their price objective on First Industrial Realty Trust from $71.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, October 26th. Citigroup dropped their price objective on First Industrial Realty Trust from $72.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Barclays boosted their price objective on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada decreased their target price on First Industrial Realty Trust from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, First Industrial Realty Trust presently has a consensus rating of “Hold” and an average target price of $64.93.

First Industrial Realty Trust Trading Down 0.2%

Shares of First Industrial Realty Trust stock traded down $0.13 during trading hours on Thursday, hitting $53.79. The company’s stock had a trading volume of 1,533,884 shares, compared to its average volume of 1,792,210. First Industrial Realty Trust has a twelve month low of $53.27 and a twelve month high of $69.88. The firm has a fifty day moving average of $59.15 and a 200-day moving average of $61.22. The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 20.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.06 and a current ratio of 1.06.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.38). The business had revenue of $197.12 million for the quarter, compared to analyst estimates of $196.41 million. First Industrial Realty Trust had a return on equity of 12.60% and a net margin of 46.12%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 earnings per share. Research analysts forecast that First Industrial Realty Trust will post 3.16 EPS for the current year.

Hedge Funds Weigh In On First Industrial Realty Trust

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of First Industrial Realty Trust during the second quarter worth about $1,021,489,000. Dimensional Fund Advisors LP boosted its position in shares of First Industrial Realty Trust by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,025,484 shares of the real estate investment trust’s stock valued at $117,173,000 after purchasing an additional 40,101 shares during the period. Deutsche Bank AG acquired a new stake in shares of First Industrial Realty Trust in the 2nd quarter valued at about $79,730,000. Artemis Investment Management LLP boosted its position in shares of First Industrial Realty Trust by 0.5% in the 3rd quarter. Artemis Investment Management LLP now owns 1,244,218 shares of the real estate investment trust’s stock valued at $74,081,000 after purchasing an additional 6,732 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of First Industrial Realty Trust by 27.1% in the 1st quarter. Quantinno Capital Management LP now owns 1,217,721 shares of the real estate investment trust’s stock valued at $70,445,000 after purchasing an additional 259,476 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 real estate investment trust focused on the ownership, management, acquisition, development and redevelopment of industrial properties in the United States. Its portfolio primarily serves businesses that require space for distribution, warehousing, manufacturing, light industrial operations and other logistics-related activities.

The company leases its properties to a diverse group of tenants, including retailers, manufacturers, logistics providers and third-party distribution companies.