JPMorgan Chase & Co. Issues Pessimistic Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $63.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 19.77% from the company’s previous close.

FR has been the topic of several other research reports. Barclays reaffirmed a “cautious” rating on shares of First Industrial Realty Trust in a report on Tuesday, March 25th. Robert W. Baird raised their price target on First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group lowered their target price on shares of First Industrial Realty Trust from $59.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of First Industrial Realty Trust in a research note on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Scotiabank lowered their price objective 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $57.42.

First Industrial Realty Trust Trading Down 0.3 %

NYSE:FR opened at $47.59 on Monday. First Industrial Realty Trust has a 1 year low of $40.31 and a 1 year high of $58.17. The stock’s fifty day moving average price is $51.73 and its two-hundred day moving average price is $52.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market cap of $6.30 billion, a P/E ratio of 21.83 and a beta of 1.07.

First Industrial Realty Trust (NYSE:FR) last issued its quarterly earnings data 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). The company had revenue of $177.07 million for the quarter, compared to analysts’ expectations of $176.98 million. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, analysts expect that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Trading of First Industrial Realty Trust

Several institutional investors have recently added to or reduced their stakes in FR. Envestnet Asset Management Inc. increased its holdings in shares of First Industrial Realty Trust by 9.3% in the first quarter. Envestnet Asset Management Inc. now owns 263,247 shares of the real estate investment trust’s stock worth $14,205,000 after buying an additional 22,499 shares during the period. Aaron Wealth Advisors LLC bought a new position in First Industrial Realty Trust during the 1st quarter worth approximately $214,000. Summit Trail Advisors LLC increased its stake in First Industrial Realty Trust by 155.1% in the 1st quarter. Summit Trail Advisors LLC now owns 10,718 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 6,516 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in First Industrial Realty Trust by 4.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,136 shares of the real estate investment trust’s stock valued at $1,464,000 after purchasing an additional 1,237 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its stake in shares of First Industrial Realty Trust by 8.5% during the first quarter. Money Concepts Capital Corp now owns 15,488 shares of the real estate investment trust’s stock valued at $836,000 after purchasing an additional 1,215 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.