First Industrial Realty Trust (NYSE:FR) Stock Price Expected to Rise, Scotiabank Analyst Says

First Industrial Realty Trust (NYSE:FR) had its target price increased by analysts at Scotiabank from $63.00 to $66.00 in a note issued to investors on Wednesday,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 4.47% from the stock’s current price.

A number of other research analysts have also weighed in on FR. Cantor Fitzgerald restated a “neutral” rating and set a $71.00 price objective on shares of First Industrial Realty Trust in a research report on Monday, July 27th. Barclays increased their price target on First Industrial Realty Trust from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of First Industrial Realty Trust in a report on Friday, July 24th. Citigroup lifted their price objective on First Industrial Realty Trust from $63.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of First Industrial Realty Trust in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.07.

First Industrial Realty Trust Price Performance

Shares of NYSE:FR traded up $0.19 during midday trading on Wednesday, reaching $63.17. 45,862 shares of the company were exchanged, compared to its average volume of 1,070,044. The stock has a market cap of $8.37 billion, a PE ratio of 23.06 and a beta of 1.04. The business’s fifty day moving average is $64.08 and its two-hundred day moving average is $61.81. First Industrial Realty Trust has a one year low of $48.03 and a one year high of $69.88. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.89.

First Industrial Realty Trust (NYSE:FR) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.22). The company had revenue of $194.94 million during the quarter, compared to the consensus estimate of $195.81 million. First Industrial Realty Trust had a net margin of 47.97% and a return on equity of 12.99%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 earnings per share. First Industrial Realty Trust has set its FY 2026 guidance at 3.120-3.200 EPS. As a group, analysts predict that First Industrial Realty Trust will post 3.16 earnings per share for the current year.

Institutional Trading of First Industrial Realty Trust

Several hedge funds have recently made changes to their positions in FR. BlackRock Inc. bought a new stake in First Industrial Realty Trust during the second quarter worth approximately $1,021,489,000. Northwestern Mutual Wealth Management Co. raised its holdings in First Industrial Realty Trust by 856,065.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,785,973 shares of the real estate investment trust’s stock valued at $560,443,000 after buying an additional 9,784,830 shares during the period. Norges Bank bought a new stake in First Industrial Realty Trust in the fourth quarter worth $320,075,000. Invesco Ltd. lifted its position in First Industrial Realty Trust by 8.0% in the third quarter. Invesco Ltd. now owns 4,343,723 shares of the real estate investment trust’s stock worth $223,571,000 after buying an additional 323,248 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its position in First Industrial Realty Trust by 10.5% during the fourth quarter. Centersquare Investment Management LLC now owns 2,649,757 shares of the real estate investment trust’s stock valued at $151,752,000 after acquiring an additional 252,650 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

About First Industrial Realty Trust

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.