Barclays Forecasts Strong Price Appreciation for First Industrial Realty Trust (NYSE:FR) Stock

First Industrial Realty Trust (NYSE:FR) had its price objective raised by Barclays from $64.00 to $69.00 in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 0.26% from the company’s previous close.

A number of other research firms also recently weighed in on FR. Truist Financial upped their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research report on Wednesday, June 10th. Robert W. Baird boosted their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Wells Fargo & Company cut 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 research report on Monday, June 1st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, First Industrial Realty Trust has a consensus rating of “Moderate Buy” and a consensus target price of $64.29.

First Industrial Realty Trust Stock Up 0.2%

NYSE FR opened at $68.82 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The company has a market cap of $9.12 billion, a price-to-earnings ratio of 26.67 and a beta of 1.05. The company has a 50 day moving average of $62.88 and a 200-day moving average of $60.96. First Industrial Realty Trust has a 1-year low of $47.38 and a 1-year high of $69.88.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. M&T Bank Corp acquired a new stake in First Industrial Realty Trust during the 4th quarter valued at approximately $1,134,000. Hudson Bay Capital Management LP acquired a new position in shares of First Industrial Realty Trust in the 3rd quarter worth approximately $20,172,000. SG Americas Securities LLC boosted its stake in shares of First Industrial Realty Trust by 121.2% in the 4th quarter. SG Americas Securities LLC now owns 183,530 shares of the real estate investment trust’s stock valued at $10,511,000 after purchasing an additional 100,551 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of First Industrial Realty Trust by 7.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 209,488 shares of the real estate investment trust’s stock worth $11,997,000 after buying an additional 14,693 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of First Industrial Realty Trust by 8.8% during the third quarter. JPMorgan Chase & Co. now owns 1,586,367 shares of the real estate investment trust’s stock worth $81,650,000 after buying an additional 127,915 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

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.