First Industrial Realty Trust (NYSE:FR) Price Target Raised to $65.00

First Industrial Realty Trust (NYSE:FR) had its price target lifted by equities researchers at Truist Financial from $60.00 to $65.00 in a research report issued on Tuesday, Marketbeat reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target indicates a potential upside of 8.36% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $58.00 target price on shares of First Industrial Realty Trust in a report on Monday, January 5th. Robert W. Baird set a $64.00 price objective on First Industrial Realty Trust in a research report on Thursday, January 8th. UBS Group set a $62.00 target price on First Industrial Realty Trust in a research report on Thursday, December 4th. Industrial Alliance Securities set a $67.00 price target on shares of First Industrial Realty Trust in a report on Monday, January 5th. Finally, Wells Fargo & Company upped their price target on shares of First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, First Industrial Realty Trust presently has a consensus rating of “Moderate Buy” and an average price target of $62.46.

First Industrial Realty Trust Trading Up 1.1%

First Industrial Realty Trust stock opened at $59.99 on Tuesday. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 year high of $60.20. The firm’s 50-day moving average is $57.65 and its 200-day moving average is $53.68. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $7.94 billion, a P/E ratio of 33.51 and a beta of 1.14.

Insider Buying and Selling at First Industrial Realty Trust

In related news, CIO Johannson L. Yap sold 680 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $58.37, for a total value of $39,691.60. Following the completion of the sale, the executive owned 3,770 shares of the company’s stock, valued at $220,054.90. This represents a 15.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.94% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Industrial Realty Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in First Industrial Realty Trust during the 2nd quarter valued at $272,085,000. Rush Island Management LP acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at $79,904,000. PGGM Investments acquired a new stake in shares of First Industrial Realty Trust in the second quarter valued at $77,038,000. AQR Capital Management LLC boosted its stake in First Industrial Realty Trust by 491.9% during the second quarter. AQR Capital Management LLC now owns 1,855,214 shares of the real estate investment trust’s stock valued at $89,291,000 after buying an additional 1,541,778 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. acquired a new position in First Industrial Realty Trust during the third quarter worth about $74,584,000. Institutional investors own 99.85% of the company’s stock.

About First Industrial Realty Trust

First Industrial Realty Trust, Inc (NYSE: FR) is a publicly traded real estate investment trust focused on the ownership, operation and development of industrial real estate assets. The company specializes in light industrial, warehouse and distribution facilities that serve a broad range of end markets, including manufacturing, transportation and e-commerce. Through both acquisitions and ground-up developments, First Industrial seeks to assemble a diversified portfolio of strategically located properties that support its tenants’ supply-chain needs.

Core services provided by First Industrial include property leasing, asset management, redevelopment of obsolescent buildings and build-to-suit development for creditworthy users.