Wells Fargo & Company Cuts First Industrial Realty Trust (NYSE:FR) Price Target to $61.00

First Industrial Realty Trust (NYSE:FR) had its price objective decreased by research analysts at Wells Fargo & Company from $63.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 0.44% from the company’s current price.

FR has been the subject of a number of other reports. Wall Street Zen raised First Industrial Realty Trust from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Robert W. Baird upped their price target on First Industrial Realty Trust from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of First Industrial Realty Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, April 27th. Citigroup boosted their price target on shares of First Industrial Realty Trust from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada raised their price target on First Industrial Realty Trust from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, February 9th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.93.

First Industrial Realty Trust Trading Down 1.8%

First Industrial Realty Trust stock traded down $1.14 during mid-day trading on Monday, hitting $60.73. The company’s stock had a trading volume of 72,659 shares, compared to its average volume of 1,010,659. The stock’s fifty day moving average is $61.03 and its two-hundred day moving average is $59.53. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $8.05 billion, a PE ratio of 23.57 and a beta of 1.06. First Industrial Realty Trust has a 1 year low of $47.36 and a 1 year high of $64.66.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in First Industrial Realty Trust during the third quarter worth about $26,000. Parallel Advisors LLC lifted its holdings in shares of First Industrial Realty Trust by 86.9% in the 4th quarter. Parallel Advisors LLC now owns 626 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 291 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of First Industrial Realty Trust by 64.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 301 shares in the last quarter. Danske Bank A S acquired a new position in First Industrial Realty Trust during the third quarter worth $51,000. Finally, Parkside Financial Bank & Trust raised its position in First Industrial Realty Trust by 27.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,231 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 262 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.