JPMorgan Chase & Co. Trims First Industrial Realty Trust (NYSE:FR) Target Price to $53.00

First Industrial Realty Trust (NYSE:FR) had its price target decreased by JPMorgan Chase & Co. from $59.00 to $53.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 15.29% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Mizuho reaffirmed a “buy” rating and issued a $58.00 price target on shares of First Industrial Realty Trust in a research note on Tuesday, April 2nd. Truist Financial increased their target price on shares of First Industrial Realty Trust from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Royal Bank of Canada increased their target price on shares of First Industrial Realty Trust from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. TheStreet raised shares of First Industrial Realty Trust from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Barclays restated an “equal weight” rating and set a $53.00 price target (down from $63.00) on shares of First Industrial Realty Trust in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.70.

First Industrial Realty Trust Stock Down 1.1 %

NYSE:FR traded down $0.50 during trading hours on Wednesday, hitting $45.97. 338,033 shares of the stock traded hands, compared to its average volume of 1,173,286. The firm has a 50 day moving average price of $52.05 and a 200 day moving average price of $49.92. The company has a current ratio of 1.25, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83. First Industrial Realty Trust has a fifty-two week low of $40.44 and a fifty-two week high of $55.22. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 21.20 and a beta of 1.01.

Institutional Investors Weigh In On First Industrial Realty Trust

Hedge funds have recently made changes to their positions in the stock. State of Michigan Retirement System raised its position in First Industrial Realty Trust by 0.6% in the fourth quarter. State of Michigan Retirement System now owns 31,768 shares of the real estate investment trust’s stock worth $1,673,000 after purchasing an additional 200 shares in the last quarter. Covestor Ltd raised its position in First Industrial Realty Trust by 14.0% in the third quarter. Covestor Ltd now owns 1,960 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 241 shares in the last quarter. GYL Financial Synergies LLC raised its position in First Industrial Realty Trust by 0.7% in the third quarter. GYL Financial Synergies LLC now owns 35,469 shares of the real estate investment trust’s stock worth $1,688,000 after purchasing an additional 242 shares in the last quarter. M&T Bank Corp increased its holdings in shares of First Industrial Realty Trust by 1.5% during the third quarter. M&T Bank Corp now owns 16,886 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 250 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of First Industrial Realty Trust by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,009 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 275 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

First Industrial Realty Trust Company Profile

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.