First Industrial Realty Trust (NYSE:FR) was downgraded by J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a research note issued to investors on Friday. They presently have a $31.00 price objective on the real estate investment trust’s stock. J P Morgan Chase & Co’s price target points to a potential downside of 3.55% from the stock’s previous close.

A number of other brokerages have also weighed in on FR. Jefferies Group reaffirmed a “hold” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a report on Friday, November 24th. SunTrust Banks reaffirmed a “buy” rating and set a $34.00 price objective on shares of First Industrial Realty Trust in a report on Friday, November 10th. Janney Montgomery Scott initiated coverage on First Industrial Realty Trust in a report on Friday, September 29th. They set a “buy” rating and a $34.00 price objective on the stock. ValuEngine raised First Industrial Realty Trust from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of First Industrial Realty Trust in a report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $31.86.

First Industrial Realty Trust (NYSE:FR) opened at $32.14 on Friday. First Industrial Realty Trust has a twelve month low of $25.31 and a twelve month high of $32.91. The firm has a market capitalization of $3,851.88, a price-to-earnings ratio of 20.87 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.98.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. First Industrial Realty Trust had a return on equity of 9.54% and a net margin of 32.44%. The firm had revenue of $99.30 million for the quarter, compared to analyst estimates of $98.38 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. First Industrial Realty Trust’s quarterly revenue was up 6.1% on a year-over-year basis. analysts expect that First Industrial Realty Trust will post 1.56 EPS for the current fiscal year.

In other First Industrial Realty Trust news, Director Bruce W. Duncan sold 16,855 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $31.73, for a total transaction of $534,809.15. Following the sale, the director now directly owns 883,820 shares in the company, valued at $28,043,608.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bruce W. Duncan sold 16,854 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $32.42, for a total value of $546,406.68. Following the sale, the director now owns 866,966 shares in the company, valued at $28,107,037.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,564 shares of company stock worth $1,601,193. 1.71% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FR. Renaissance Technologies LLC boosted its position in First Industrial Realty Trust by 532.3% during the first quarter. Renaissance Technologies LLC now owns 53,115 shares of the real estate investment trust’s stock worth $1,414,000 after purchasing an additional 44,715 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in First Industrial Realty Trust by 0.3% during the second quarter. Great West Life Assurance Co. Can now owns 128,273 shares of the real estate investment trust’s stock worth $3,669,000 after purchasing an additional 394 shares in the last quarter. World Asset Management Inc purchased a new stake in First Industrial Realty Trust during the second quarter worth $212,000. Sei Investments Co. boosted its position in First Industrial Realty Trust by 11,371.8% during the second quarter. Sei Investments Co. now owns 102,902 shares of the real estate investment trust’s stock worth $2,945,000 after purchasing an additional 102,005 shares in the last quarter. Finally, IFP Advisors Inc boosted its position in First Industrial Realty Trust by 5.2% during the second quarter. IFP Advisors Inc now owns 3,823 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 92.97% of the company’s stock.

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First Industrial Realty Trust Company Profile

First Industrial Realty Trust, Inc is a real estate investment trust (REIT). The Trust is a self-administered real estate company, which owns, manages, acquires, sells, develops and redevelops industrial real estate. As of December 31, 2016, the Company’s in-service portfolio consisted of 215 light industrial properties, 53 research and development (R&D)/flex properties, 167 bulk warehouse properties and 100 regional warehouse properties containing an aggregate of approximately 62.2 million square feet of gross leasable area (GLA) located in 23 states.

Analyst Recommendations for First Industrial Realty Trust (NYSE:FR)

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