First Industrial Realty Trust (NYSE:FR) Price Target Cut to $53.00

First Industrial Realty Trust (NYSE:FR) had its price target decreased by analysts at JPMorgan Chase & Co. from $59.00 to $53.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.09% from the stock’s current price.

FR has been the topic of a number of other research reports. Royal Bank of Canada raised their price target on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, February 16th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a report on Thursday, January 11th. Truist Financial raised their price objective on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Mizuho reissued a “buy” rating and issued a $58.00 price objective on shares of First Industrial Realty Trust in a report on Tuesday, April 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of First Industrial Realty Trust from $41.00 to $47.00 and gave the company a “sell” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.11.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $46.05 on Wednesday. The firm’s 50-day moving average price is $51.73 and its 200-day moving average price is $49.87. The company has a quick ratio of 1.06, a current ratio of 1.25 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.09 billion, a PE ratio of 21.22 and a beta of 1.01. First Industrial Realty Trust has a 52-week low of $40.44 and a 52-week high of $55.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FR. Farmers & Merchants Investments Inc. lifted its stake in shares of First Industrial Realty Trust by 781.7% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 529 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 469 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of First Industrial Realty Trust in the first quarter valued at $50,000. EdgeRock Capital LLC bought a new stake in shares of First Industrial Realty Trust in the 4th quarter worth about $56,000. C M Bidwell & Associates Ltd. boosted its stake in shares of First Industrial Realty Trust by 119.5% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,405 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 765 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in First Industrial Realty Trust during the 4th quarter valued at about $82,000. Hedge funds and other 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.