First Industrial Realty Trust (NYSE:FR) Price Target Cut to $53.00 by Analysts at JPMorgan Chase & Co.

First Industrial Realty Trust (NYSE:FR) had its target price cut by investment analysts at JPMorgan Chase & Co. from $59.00 to $53.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.09% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada raised their target price on First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Barclays restated an “equal weight” rating and set a $53.00 price target (down previously from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Truist Financial raised their price target on First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Finally, The Goldman Sachs Group raised their price target on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, First Industrial Realty Trust currently has an average rating of “Hold” and a consensus price target of $53.11.

First Industrial Realty Trust Price Performance

Shares of NYSE FR opened at $46.05 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.25. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The firm has a market capitalization of $6.09 billion, a PE ratio of 21.22 and a beta of 1.01. The stock’s 50-day simple moving average is $51.73 and its 200-day simple moving average is $49.87.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors have recently modified their holdings of FR. Farmers & Merchants Investments Inc. boosted its stake in shares of First Industrial Realty Trust by 781.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 469 shares in the last quarter. Mather Group LLC. acquired a new position in First Industrial Realty Trust during the first quarter worth $50,000. EdgeRock Capital LLC acquired a new position in First Industrial Realty Trust during the fourth quarter worth $56,000. C M Bidwell & Associates Ltd. raised its holdings in First Industrial Realty Trust by 119.5% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in First Industrial Realty Trust during the fourth quarter worth $82,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.