JPMorgan Chase & Co. Lowers First Industrial Realty Trust (NYSE:FR) Price Target to $57.00

First Industrial Realty Trust (NYSE:FR) had its price target reduced by investment analysts at JPMorgan Chase & Co. from $63.00 to $57.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.56% from the company’s previous close.

Several other analysts have also weighed in on FR. Deutsche Bank Aktiengesellschaft began coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price objective for the company. Robert W. Baird raised their price objective on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Barclays reiterated a “cautious” rating on shares of First Industrial Realty Trust in a research note on Tuesday, March 25th. Scotiabank reduced their price target on shares of First Industrial Realty Trust from $58.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Monday, April 7th. Finally, The Goldman Sachs Group lowered their price objective on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $57.58.

First Industrial Realty Trust Stock Up 0.8 %

FR stock traded up $0.36 during midday trading on Monday, hitting $47.67. 120,249 shares of the company’s stock were exchanged, compared to its average volume of 1,118,381. The firm has a 50 day moving average price of $52.06 and a 200-day moving average price of $52.48. First Industrial Realty Trust has a 12-month low of $40.31 and a 12-month high of $58.17. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of 21.87 and a beta of 1.07. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings results on Wednesday, April 16th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. The company had revenue of $177.07 million during the quarter, compared to the consensus estimate of $176.98 million. On average, analysts anticipate that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FR. CIBC Asset Management Inc increased its stake in First Industrial Realty Trust by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 4,089 shares of the real estate investment trust’s stock worth $205,000 after purchasing an additional 210 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of First Industrial Realty Trust by 24.7% in the fourth quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock worth $54,000 after buying an additional 214 shares during the period. Stifel Financial Corp increased its position in shares of First Industrial Realty Trust by 0.9% in the fourth quarter. Stifel Financial Corp now owns 26,121 shares of the real estate investment trust’s stock worth $1,309,000 after acquiring an additional 222 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of First Industrial Realty Trust by 93.0% during the first quarter. Bessemer Group Inc. now owns 467 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 225 shares during the period. Finally, Fifth Third Bancorp raised its holdings in shares of First Industrial Realty Trust by 22.2% during the first quarter. Fifth Third Bancorp now owns 1,297 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 236 shares during the period. Institutional investors own 99.85% of the company’s stock.

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.