First Industrial Realty Trust (NYSE:FR) Upgraded at Raymond James Financial

First Industrial Realty Trust (NYSE:FR) was upgraded by research analysts at Raymond James Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. KeyCorp restated a “sector weight” rating on shares of First Industrial Realty Trust in a research note on Wednesday, June 10th. Wall Street Zen upgraded First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, April 27th. Wells Fargo & Company cut their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Finally, Scotiabank upped their price target on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.20.

First Industrial Realty Trust Trading Up 1.8%

Shares of First Industrial Realty Trust stock opened at $61.77 on Wednesday. First Industrial Realty Trust has a 52-week low of $47.36 and a 52-week high of $64.66. The firm has a market capitalization of $8.19 billion, a PE ratio of 23.94 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04. The company’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $60.07.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently modified their holdings of FR. Parallel Advisors LLC raised its stake in shares of First Industrial Realty Trust by 120.8% in the first quarter. Parallel Advisors LLC now owns 1,382 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 756 shares during the last quarter. Bank of America Corp DE grew its position in First Industrial Realty Trust by 15.9% during the 1st quarter. Bank of America Corp DE now owns 778,077 shares of the real estate investment trust’s stock worth $45,012,000 after acquiring an additional 106,928 shares during the last quarter. Bull Harbor Capital LLC bought a new stake in First Industrial Realty Trust during the 1st quarter worth approximately $227,000. Amundi increased its holdings in First Industrial Realty Trust by 10.5% during the 1st quarter. Amundi now owns 76,387 shares of the real estate investment trust’s stock valued at $4,419,000 after purchasing an additional 7,283 shares in the last quarter. Finally, Adelante Capital Management LLC raised its position in First Industrial Realty Trust by 14.9% in the 1st quarter. Adelante Capital Management LLC now owns 544,609 shares of the real estate investment trust’s stock valued at $31,506,000 after purchasing an additional 70,543 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.