Raymond James Financial Reaffirms Strong-Buy Rating for First Industrial Realty Trust (NYSE:FR)

First Industrial Realty Trust (NYSE:FR)‘s stock had its “strong-buy” rating reissued by investment analysts at Raymond James Financial in a research note issued on Thursday,Benzinga reports.

FR has been the subject of a number of other reports. Wells Fargo & Company decreased their target price on First Industrial Realty Trust from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, June 1st. Scotiabank boosted their target price on First Industrial Realty Trust from $62.00 to $63.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $65.00 target price on shares of First Industrial Realty Trust in a research report on Monday, April 27th. Truist Financial boosted their target price on First Industrial Realty Trust from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings raised First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, First Industrial Realty Trust presently has an average rating of “Moderate Buy” and a consensus price target of $63.93.

First Industrial Realty Trust Stock Performance

Shares of First Industrial Realty Trust stock opened at $60.56 on Thursday. First Industrial Realty Trust has a one year low of $47.36 and a one year high of $64.66. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 23.47 and a beta of 1.05. The business has a 50-day simple moving average of $61.99 and a 200 day simple moving average of $60.03. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.04 and a quick ratio of 1.04.

Institutional Trading of First Industrial Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in First Industrial Realty Trust by 120.8% during the 1st quarter. Parallel Advisors LLC now owns 1,382 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 756 shares in the last quarter. Bank of America Corp DE increased its holdings in First Industrial Realty Trust by 15.9% during the 1st quarter. Bank of America Corp DE now owns 778,077 shares of the real estate investment trust’s stock worth $45,012,000 after purchasing an additional 106,928 shares in the last quarter. Bull Harbor Capital LLC bought a new stake in First Industrial Realty Trust during the 1st quarter worth approximately $227,000. Amundi increased its holdings in First Industrial Realty Trust by 10.5% during the 1st quarter. Amundi now owns 76,387 shares of the real estate investment trust’s stock worth $4,419,000 after purchasing an additional 7,283 shares in the last quarter. Finally, Adelante Capital Management LLC increased its holdings in First Industrial Realty Trust by 14.9% during the 1st quarter. Adelante Capital Management LLC now owns 544,609 shares of the real estate investment trust’s stock worth $31,506,000 after purchasing an additional 70,543 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

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.