First Industrial Realty Trust (NYSE:FR) Downgraded to “Sell” Rating by Wall Street Zen

First Industrial Realty Trust (NYSE:FR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research analysts have also recently commented on the company. Truist Financial lowered their price target on First Industrial Realty Trust from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Barclays lowered their price target on First Industrial Realty Trust from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price target on First Industrial Realty Trust from $57.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, May 19th. The Goldman Sachs Group lowered their price target on First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price target on First Industrial Realty Trust from $63.00 to $57.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $55.91.

First Industrial Realty Trust Trading Down 0.1%

Shares of NYSE:FR opened at $49.09 on Friday. The stock has a 50 day moving average of $48.81 and a 200 day moving average of $51.30. The company has a market cap of $6.50 billion, a PE ratio of 24.30 and a beta of 1.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The company had revenue of $177.07 million for the quarter, compared to the consensus estimate of $176.98 million. First Industrial Realty Trust had a net margin of 39.04% and a return on equity of 9.82%. As a group, equities research analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently modified their holdings of the company. Voya Investment Management LLC raised its holdings in First Industrial Realty Trust by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 257,054 shares of the real estate investment trust’s stock valued at $13,871,000 after buying an additional 10,518 shares during the period. Nicola Wealth Management LTD. purchased a new stake in First Industrial Realty Trust during the 1st quarter valued at $843,000. Invst LLC purchased a new stake in First Industrial Realty Trust during the 1st quarter valued at $687,000. Strs Ohio purchased a new stake in First Industrial Realty Trust during the 1st quarter valued at $6,572,000. Finally, Focus Partners Wealth raised its holdings in First Industrial Realty Trust by 1.0% during the 1st quarter. Focus Partners Wealth now owns 89,162 shares of the real estate investment trust’s stock valued at $4,811,000 after buying an additional 897 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

First Industrial Realty Trust Company Profile

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.