First Industrial Realty Trust (NYSE:FR) Price Target Raised to $67.00 at Truist Financial

First Industrial Realty Trust (NYSE:FR) had its price target boosted by Truist Financial from $66.00 to $67.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective would suggest a potential upside of 10.73% from the company’s current price.

A number of other brokerages have also recently commented on FR. Cantor Fitzgerald reissued a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, April 27th. Robert W. Baird upped their price target on shares of First Industrial Realty Trust from $67.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Citigroup increased their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, February 10th. Scotiabank lifted their price objective on First Industrial Realty Trust from $62.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada raised their price target on First Industrial Realty Trust from $64.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and an average target price of $63.64.

First Industrial Realty Trust Price Performance

FR stock traded down $0.82 during midday trading on Friday, hitting $60.51. 39,031 shares of the stock were exchanged, compared to its average volume of 1,017,179. The stock’s 50-day moving average price is $60.67 and its 200-day moving average price is $59.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 23.45 and a beta of 1.07. First Industrial Realty Trust has a fifty-two week low of $47.36 and a fifty-two week high of $64.66.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its position in shares of First Industrial Realty Trust by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock valued at $473,000 after purchasing an additional 163 shares during the period. Crossmark Global Holdings Inc. boosted its stake in First Industrial Realty Trust by 1.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after buying an additional 179 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 4.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 183 shares during the period. AlphaQuest LLC boosted its position in shares of First Industrial Realty Trust by 0.5% in the third quarter. AlphaQuest LLC now owns 41,416 shares of the real estate investment trust’s stock worth $2,132,000 after acquiring an additional 193 shares during the last quarter. Finally, Assetmark Inc. grew its stake in First Industrial Realty Trust by 7.1% during the 3rd quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock valued at $154,000 after purchasing an additional 198 shares in the last quarter. Institutional investors and hedge funds 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.