First Industrial Realty Trust (NYSE:FR) Downgraded by Zacks Investment Research to Hold

First Industrial Realty Trust (NYSE:FR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “FIRST INDUSTRIAL REALTY TRUST is a self-administered and fully integrated industrial real estate company which owns, mamages, acquires and develops industrial real estste. “

Separately, ValuEngine downgraded First Industrial Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $33.70.

Shares of NYSE FR opened at $42.77 on Wednesday. The firm has a fifty day moving average of $41.60 and a 200-day moving average of $38.66. First Industrial Realty Trust has a 52-week low of $27.30 and a 52-week high of $43.18. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.37 billion, a PE ratio of 26.73, a P/E/G ratio of 3.83 and a beta of 0.67.

First Industrial Realty Trust (NYSE:FR) last posted its earnings results on Wednesday, October 23rd. The real estate investment trust reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.19. The business had revenue of $106.59 million for the quarter, compared to analysts’ expectations of $106.81 million. First Industrial Realty Trust had a net margin of 45.86% and a return on equity of 11.43%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 earnings per share. Equities research analysts expect that First Industrial Realty Trust will post 1.74 EPS for the current fiscal year.

In related news, EVP Peter Schultz sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $42.03, for a total transaction of $504,360.00. Following the completion of the sale, the executive vice president now owns 97,159 shares in the company, valued at approximately $4,083,592.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.22% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. bought a new position in shares of First Industrial Realty Trust in the 2nd quarter valued at about $35,000. Bartlett & Co. LLC bought a new position in shares of First Industrial Realty Trust during the 3rd quarter worth approximately $40,000. C M Bidwell & Associates Ltd. acquired a new stake in First Industrial Realty Trust in the 2nd quarter valued at $51,000. Point72 Hong Kong Ltd raised its holdings in First Industrial Realty Trust by 848.6% during the second quarter. Point72 Hong Kong Ltd now owns 1,660 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 1,485 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of First Industrial Realty Trust by 46.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,234 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 95.22% of the company’s stock.

About First Industrial Realty Trust

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.

Recommended Story: How to Invest in a Bull Market

Get a free copy of the Zacks research report on First Industrial Realty Trust (FR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.