Raymond James Financial Reaffirms Strong-Buy Rating for First Industrial Realty Trust (NYSE:FR)

First Industrial Realty Trust (NYSE:FR)‘s stock had its “strong-buy” rating reiterated by investment analysts at Raymond James Financial in a research note issued on Thursday,Benzinga reports.

A number of other analysts have also recently issued reports on the company. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Wells Fargo & Company cut their price objective 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. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Scotiabank raised their price objective 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. Finally, Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.93.

First Industrial Realty Trust Stock Performance

Shares of NYSE FR opened at $60.56 on Thursday. First Industrial Realty Trust has a 52 week low of $47.36 and a 52 week high of $64.66. The stock has a market capitalization of $8.03 billion, a PE ratio of 23.47 and a beta of 1.05. The stock has a 50 day moving average price of $61.99 and a 200 day moving average price of $60.03. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04.

Hedge Funds Weigh In On First Industrial Realty Trust

A number of large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its stake in shares of First Industrial Realty Trust by 2.0% during the first quarter. Sequoia Financial Advisors LLC now owns 8,184 shares of the real estate investment trust’s stock worth $473,000 after purchasing an additional 163 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of First Industrial Realty Trust by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,550 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 179 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of First Industrial Realty Trust by 4.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 4,463 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 183 shares during the period. Assetmark Inc. increased its stake in shares of First Industrial Realty Trust by 7.1% during the third quarter. Assetmark Inc. now owns 2,994 shares of the real estate investment trust’s stock worth $154,000 after purchasing an additional 198 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of First Industrial Realty Trust by 2.0% during the third quarter. Quadrant Capital Group LLC now owns 10,761 shares of the real estate investment trust’s stock worth $554,000 after purchasing an additional 211 shares during the period. 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.