Scotiabank Issues Positive Forecast for First Industrial Realty Trust (NYSE:FR) Stock Price

First Industrial Realty Trust (NYSE:FR) had its price objective increased by Scotiabank from $54.00 to $57.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 1.80% from the company’s previous close.

FR has been the subject of several other reports. Royal Bank Of Canada upped their price target on First Industrial Realty Trust from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Wells Fargo & Company boosted their target price on First Industrial Realty Trust from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Cantor Fitzgerald began coverage on shares of First Industrial Realty Trust in a report on Wednesday, October 1st. They issued a “neutral” rating and a $55.00 price target on the stock. Barclays set a $54.00 price objective on shares of First Industrial Realty Trust in a research note on Monday, November 3rd. Finally, Mizuho raised their target price on shares of First Industrial Realty Trust from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, September 8th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.00.

First Industrial Realty Trust Trading Down 0.5%

Shares of First Industrial Realty Trust stock traded down $0.29 during mid-day trading on Monday, hitting $55.99. 27,115 shares of the stock were exchanged, compared to its average volume of 1,189,858. The company has a 50-day simple moving average of $53.07 and a 200 day simple moving average of $50.66. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 31.32 and a beta of 1.09. First Industrial Realty Trust has a twelve month low of $40.31 and a twelve month high of $58.17.

First Industrial Realty Trust (NYSE:FR) last posted its quarterly earnings data on Wednesday, October 15th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The business had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $182.63 million. First Industrial Realty Trust had a return on equity of 8.65% and a net margin of 33.18%.The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. First Industrial Realty Trust has set its FY 2025 guidance at 2.940-2.980 EPS. Research analysts forecast that First Industrial Realty Trust will post 2.89 EPS for the current year.

Institutional Investors Weigh In On First Industrial Realty Trust

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in shares of First Industrial Realty Trust by 9.3% during 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 purchasing an additional 22,499 shares during the period. Cerity Partners LLC raised its position in shares of First Industrial Realty Trust by 31.1% during the 1st quarter. Cerity Partners LLC now owns 11,185 shares of the real estate investment trust’s stock worth $606,000 after buying an additional 2,653 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of First Industrial Realty Trust by 1.0% in the first quarter. State of Michigan Retirement System now owns 31,668 shares of the real estate investment trust’s stock valued at $1,709,000 after buying an additional 300 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of First Industrial Realty Trust by 0.3% during the 1st quarter. New York State Common Retirement Fund now owns 136,829 shares of the real estate investment trust’s stock valued at $7,383,000 after acquiring an additional 447 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of First Industrial Realty Trust by 1.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 37,100 shares of the real estate investment trust’s stock worth $2,002,000 after acquiring an additional 400 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 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.