First Industrial Realty Trust (NYSE:FR) Raised to Neutral at The Goldman Sachs Group

First Industrial Realty Trust (NYSE:FR) was upgraded by investment analysts at The Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Finviz reports. The firm currently has a $59.00 price target on the real estate investment trust’s stock, up from their prior price target of $52.00. The Goldman Sachs Group’s price objective would indicate a potential upside of 5.77% from the company’s current price.

A number of other analysts also recently issued reports on FR. KeyCorp raised First Industrial Realty Trust from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, December 17th. Robert W. Baird lifted their target price on First Industrial Realty Trust from $59.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on First Industrial Realty Trust in a report on Tuesday, January 14th. They issued a “hold” rating and a $52.00 target price for the company. Finally, Barclays dropped their target price on First Industrial Realty Trust from $56.00 to $55.00 and set an “equal weight” rating for the company in a report on Monday, November 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $58.31.

First Industrial Realty Trust Stock Performance

NYSE:FR opened at $55.78 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.21 and a quick ratio of 1.11. First Industrial Realty Trust has a 1 year low of $45.10 and a 1 year high of $57.35. The stock’s 50 day simple moving average is $52.20 and its two-hundred day simple moving average is $53.60. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 25.59 and a beta of 1.09.

First Industrial Realty Trust (NYSE:FR) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that First Industrial Realty Trust will post 2.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Industrial Realty Trust

Large investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in First Industrial Realty Trust by 201.9% during the 3rd quarter. Blue Trust Inc. now owns 951 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 636 shares in the last quarter. Farther Finance Advisors LLC raised its position in First Industrial Realty Trust by 77.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 956 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 417 shares in the last quarter. Versant Capital Management Inc raised its position in First Industrial Realty Trust by 92.5% during the 4th quarter. Versant Capital Management Inc now owns 1,001 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 481 shares in the last quarter. UMB Bank n.a. raised its position in First Industrial Realty Trust by 24.7% during the 4th quarter. UMB Bank n.a. now owns 1,081 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 214 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in First Industrial Realty Trust by 200.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,119 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.