First Industrial Realty Trust (NYSE:FR) Upgraded at KeyCorp

First Industrial Realty Trust (NYSE:FR) was upgraded by research analysts at KeyCorp from an “underweight” rating to a “sector weight” rating in a research note issued to investors on Tuesday.

Several other analysts also recently commented on the stock. Mizuho increased their target price on shares of First Industrial Realty Trust from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Scotiabank increased their price target on First Industrial Realty Trust from $55.00 to $58.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company upped their price objective on First Industrial Realty Trust from $50.00 to $61.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, Barclays lowered their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $57.83.

First Industrial Realty Trust Price Performance

FR stock opened at $52.45 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.80. The company’s fifty day simple moving average is $53.44 and its 200 day simple moving average is $52.69. First Industrial Realty Trust has a 12-month low of $45.10 and a 12-month high of $57.35. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 22.51 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $167.60 million during the quarter, compared to analyst estimates of $164.01 million. First Industrial Realty Trust had a net margin of 47.34% and a return on equity of 11.53%. First Industrial Realty Trust’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.62 EPS. On average, analysts expect that First Industrial Realty Trust will post 2.63 earnings per share for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of large investors have recently made changes to their positions in FR. V Square Quantitative Management LLC bought a new stake in shares of First Industrial Realty Trust during the 3rd quarter valued at $28,000. Allspring Global Investments Holdings LLC boosted its stake in First Industrial Realty Trust by 46.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 200 shares in the last quarter. UMB Bank n.a. grew its holdings in First Industrial Realty Trust by 116.2% in the third quarter. UMB Bank n.a. now owns 867 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 466 shares during the period. Blue Trust Inc. increased its stake in shares of First Industrial Realty Trust by 201.9% during the third quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 77.4% during the third quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares during the last quarter. 99.85% of the stock is currently owned by 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.