Barclays Raises First Industrial Realty Trust (NYSE:FR) Price Target to $56.00

First Industrial Realty Trust (NYSE:FR) had its price target upped by Barclays from $55.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 3.86% from the stock’s current price.

A number of other research firms also recently weighed in on FR. Robert W. Baird raised their price target on shares of First Industrial Realty Trust from $59.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. The Goldman Sachs Group upgraded First Industrial Realty Trust from a “sell” rating to a “neutral” rating and raised their target price for the company from $52.00 to $59.00 in a report on Friday, February 21st. KeyCorp upgraded First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of First Industrial Realty Trust in a research report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 price target on the stock. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $58.38.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR opened at $53.92 on Tuesday. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 24.73 and a beta of 1.07. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $58.17. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $54.71 and a 200 day simple moving average of $53.77.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.36. First Industrial Realty Trust had a return on equity of 10.64% and a net margin of 42.94%. As a group, sell-side analysts predict that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Institutional Trading of First Industrial Realty Trust

A number of institutional investors and hedge funds have recently modified their holdings of FR. Vanguard Group Inc. increased its stake in First Industrial Realty Trust by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,190,885 shares of the real estate investment trust’s stock valued at $962,039,000 after acquiring an additional 304,589 shares during the period. Invesco Ltd. raised its holdings in shares of First Industrial Realty Trust by 80.2% in the 4th quarter. Invesco Ltd. now owns 4,276,906 shares of the real estate investment trust’s stock worth $214,401,000 after buying an additional 1,903,164 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First Industrial Realty Trust by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,354,728 shares of the real estate investment trust’s stock worth $187,798,000 after buying an additional 747,101 shares during the period. Geode Capital Management LLC raised its stake in First Industrial Realty Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,482,693 shares of the real estate investment trust’s stock worth $124,492,000 after acquiring an additional 14,298 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of First Industrial Realty Trust by 5.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,432,120 shares of the real estate investment trust’s stock valued at $121,922,000 after acquiring an additional 130,819 shares during the period. 99.85% of the stock is currently owned by institutional investors.

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.