First Industrial Realty Trust (FR) Rating Lowered to Hold at ValuEngine

First Industrial Realty Trust (NYSE:FR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Several other brokerages have also recently issued reports on FR. JPMorgan Chase & Co. upped their price objective on First Industrial Realty Trust from $30.00 to $34.00 and gave the stock an “underweight” rating in a report on Friday, July 27th. Jefferies Financial Group cut First Industrial Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Zacks Investment Research cut First Industrial Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Finally, SunTrust Banks set a $35.00 price objective on First Industrial Realty Trust and gave the stock a “buy” rating in a report on Tuesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.67.

NYSE FR opened at $30.89 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.53 and a current ratio of 1.31. First Industrial Realty Trust has a 12 month low of $27.61 and a 12 month high of $34.04. The company has a market capitalization of $3.90 billion, a P/E ratio of 19.68 and a beta of 0.62.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings results on Wednesday, October 24th. The real estate investment trust reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.06. First Industrial Realty Trust had a return on equity of 13.40% and a net margin of 52.47%. The company had revenue of $100.26 million for the quarter, compared to analysts’ expectations of $99.74 million. As a group, equities analysts forecast that First Industrial Realty Trust will post 1.59 earnings per share for the current year.

In other news, Director H Patrick Hackett, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $31.38, for a total transaction of $470,700.00. Following the transaction, the director now owns 37,577 shares of the company’s stock, valued at approximately $1,179,166.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bruce W. Duncan sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $32.52, for a total value of $975,600.00. Following the transaction, the director now directly owns 612,564 shares in the company, valued at approximately $19,920,581.28. The disclosure for this sale can be found here. Insiders own 1.71% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FR. Assetmark Inc. bought a new position in shares of First Industrial Realty Trust during the 2nd quarter valued at approximately $121,000. Qube Research & Technologies Ltd bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $164,000. Sumitomo Mitsui Asset Management Company LTD bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $201,000. Hartford Investment Management Co. bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $204,000. Finally, World Asset Management Inc bought a new position in First Industrial Realty Trust in the 2nd quarter valued at $205,000. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc (NYSE: FR) is a leading fully integrated owner, operator, and developer of industrial real estate with a track record of providing industry-leading customer service to multinational corporations and regional customers. Across major markets in the United States, our local market experts manage, lease, buy, (re)develop, and sell bulk and regional distribution centers, light industrial, and other industrial facility types.

See Also: How a Put Option Works

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

Receive News & Ratings for First Industrial Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Industrial Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply