First Industrial Realty Trust (NYSE:FR) Price Target Raised to $69.00 at Barclays

First Industrial Realty Trust (NYSE:FR) had its target price upped by stock analysts at Barclays from $64.00 to $69.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price target points to a potential upside of 4.93% from the stock’s previous close.

FR has been the subject of several other reports. Robert W. Baird upped their price objective on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wells Fargo & Company reduced their price objective on shares of First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, June 1st. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Raymond James Financial reiterated a “strong-buy” rating on shares of First Industrial Realty Trust in a research note on Thursday, June 18th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $65.00 price target on shares of First Industrial Realty Trust in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.29.

First Industrial Realty Trust Stock Performance

Shares of FR stock opened at $65.76 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.04 and a current ratio of 1.04. First Industrial Realty Trust has a 52 week low of $47.38 and a 52 week high of $66.17. The company’s 50 day moving average price is $62.63 and its two-hundred day moving average price is $60.84. The company has a market capitalization of $8.72 billion, a P/E ratio of 25.49 and a beta of 1.05.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in First Industrial Realty Trust by 41.1% during the first quarter. Goldman Sachs Group Inc. now owns 839,536 shares of the real estate investment trust’s stock valued at $45,301,000 after purchasing an additional 244,562 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of First Industrial Realty Trust by 141.1% in the 2nd quarter. First Trust Advisors LP now owns 86,866 shares of the real estate investment trust’s stock valued at $4,181,000 after acquiring an additional 50,839 shares during the last quarter. Baird Financial Group Inc. grew its position in First Industrial Realty Trust by 4.4% during the 2nd quarter. Baird Financial Group Inc. now owns 55,781 shares of the real estate investment trust’s stock worth $2,685,000 after acquiring an additional 2,356 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of First Industrial Realty Trust during the second quarter valued at about $275,000. Finally, Cerity Partners LLC increased its stake in shares of First Industrial Realty Trust by 463.4% in the second quarter. Cerity Partners LLC now owns 63,013 shares of the real estate investment trust’s stock valued at $3,033,000 after buying an additional 51,828 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

First Industrial Realty Trust Company Profile

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.