First Industrial Realty Trust (NYSE:FR) PT Lowered to $53.00 at JPMorgan Chase & Co.

First Industrial Realty Trust (NYSE:FR) had its target price decreased by analysts at JPMorgan Chase & Co. from $59.00 to $53.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 15.29% from the stock’s previous close.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group raised their price objective on First Industrial Realty Trust from $41.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, January 11th. TheStreet raised First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research note on Thursday, January 11th. Barclays reiterated an “equal weight” rating and set a $53.00 price objective (down from $63.00) on shares of First Industrial Realty Trust in a research note on Wednesday, March 27th. Truist Financial boosted their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada lifted their price target on First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.70.

First Industrial Realty Trust Stock Performance

NYSE:FR traded down $0.50 during mid-day trading on Wednesday, reaching $45.97. 338,033 shares of the company’s stock were exchanged, compared to its average volume of 1,173,286. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.25. The firm has a market capitalization of $6.08 billion, a PE ratio of 21.20 and a beta of 1.01. First Industrial Realty Trust has a one year low of $40.44 and a one year high of $55.22. The business’s fifty day simple moving average is $52.05 and its two-hundred day simple moving average is $49.92.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in FR. Centersquare Investment Management LLC increased its holdings in First Industrial Realty Trust by 23.6% in the fourth quarter. Centersquare Investment Management LLC now owns 4,551,501 shares of the real estate investment trust’s stock worth $239,728,000 after purchasing an additional 869,676 shares in the last quarter. Nomura Holdings Inc. lifted its position in shares of First Industrial Realty Trust by 14.9% during the 4th quarter. Nomura Holdings Inc. now owns 3,110,986 shares of the real estate investment trust’s stock valued at $163,856,000 after acquiring an additional 402,744 shares during the period. JPMorgan Chase & Co. boosted its stake in First Industrial Realty Trust by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 3,024,655 shares of the real estate investment trust’s stock worth $143,943,000 after acquiring an additional 158,722 shares in the last quarter. Hsbc Holdings PLC grew its holdings in First Industrial Realty Trust by 22.0% in the third quarter. Hsbc Holdings PLC now owns 2,240,983 shares of the real estate investment trust’s stock worth $106,847,000 after purchasing an additional 403,887 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in First Industrial Realty Trust by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,042,028 shares of the real estate investment trust’s stock valued at $107,554,000 after purchasing an additional 60,658 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

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.